Pension fund operators have committed ₦241 billion to infrastructure development through the industry’s infrastructure consortium, as the National Pension Commission (PenCom) moves to mobilise more long-term pension capital for infrastructure projects in Nigeria.
PenCom Director-General and Chairman of the Pension Industry Leadership Council (PILC), Ms Omolola Oloworaran, disclosed this on Thursday in Lagos at a news conference after the council’s fourth meeting. She said the commitment, made under a framework established in conjunction with FSD Africa, is expected to rise to nearly ₦300 billion as the industry gains more confidence in the initiative, with actual investments through the consortium expected to begin in the second quarter of 2027.
Speaking on the development, Oloworaran said the commitment was part of the pension industry’s efforts to mobilise long-term capital for infrastructure development in the country.
“This is the first step we are taking as an industry and this is just the beginning,” she said.
“We are committed to mobilising capital within the pension industry to deepen infrastructure development in the country,” she added.
Oloworaran said the commission and pension fund operators were interested in infrastructure investments because they are long-term and offer protection against inflation.
She also announced that the council had approved an independent global benchmark maturity assessment for the pension industry.
“We think it is something we need to do in order to elevate the industry to global standards and ensure that we operate within best practices across the board,” she said.
The PenCom boss said the assessment would be concluded soon.
She further announced that the 2026 Pension Week would hold from October 26 to October 30, with more details to be provided during subsequent engagements with the media.
Oloworaran also said the industry was working on the “Pension Transformation Agenda 2030”, an initiative aimed at articulating and formalising ongoing reforms in the sector.
According to her, the agenda would define the direction of the industry towards 2030 and the impact it seeks to make in the lives of Nigerians.
