Coins in a glass jar. Pension
Nigeria’s pension fund industry recorded significant growth, with total assets rising to N28.04 trillion as of January 31, 2026, representing a 22.64 per cent increase from N22.86 trillion recorded in January 2025.
According to the report, the growth was driven by sustained contributions and improved investment performance, while membership of the Registered Savings Account (RSA) scheme rose to 11,084,127 contributors.
The industry’s investment portfolio remains heavily concentrated in Federal Government securities, which account for N16.69 trillion of total assets.
Among these, Federal Government Bonds (Held to Maturity)constitute the largest investment instrument, valued at N13.16 trillion.
Other significant investment categories include Domestic Ordinary Shares, valued at N4.29 trillion, and Corporate Debt Securities, which account for N2.24 trillion.
Within the RSA structure, Fund II remains the largest fund category with a net asset value of N11.86 trillion, followed by Fund III with N7.19 trillion, while the retiree-focused Fund IVholds N2.27 trillion.
The industry also maintains a strong liquidity position, with cash and other assets valued at N450.44 billion.
Industry analysts attribute the continued expansion of pension assets to steady contributions, improved investment returns, and growing participation in the Contributory Pension Scheme.
The National Pension Commission (PenCom) has also reiterated the need to deepen participation in the scheme, particularly among workers in the informal sector.
