Nigeria's Pension Assets Climb to N24.1 Trillion Amid Investment Shake-Up

Nigeria's pension industry maintained its growth momentum in May 2025 as total assets under management (AUM) rose to N24.10 trillion, up 1.91% from N23.65 trillion in April, according to the latest figures from the National Pension Commission (PenCom).

- 

The increase reflects not just a rise in new Retirement Savings Account (RSA) registrations, but also robust investment returns and a noticeable shift in portfolio allocation strategy by Pension Fund Administrators (PFAs). Despite macroeconomic pressures, including inflation and interest rate uncertainty, PFAs are exploring new asset classes while remaining anchored in government securities.

FGN Securities Remain the Anchor

Federal Government instruments remain the backbone of pension fund investments, accounting for 62.06% of total pension assets. Total holdings in this category rose to N14.95 trillion. Within this:

FGN Bonds (Held-to-Maturity) grew 1.73% to N12.67 trillion, maintaining their position as the largest single investment class, representing 52.56% of total Net Asset Value (NAV).

Treasury Bills increased by 5.15% to N604.59 billion, likely reflecting a shift to shorter tenors ahead of possible rate hikes.