By Seun Ibiyemi
Nigeria’s pension assets surged to N29.43 trillion in February, marking a month-on-month increase of N1.39 trillion, the highest monthly expansion since the introduction of the Contributory Pension Scheme (CPS) over 20 years ago.
The previous record of N1.18 trillion was posted in January 2024, according to data from the National Pension Commission (PenCom).
The growth from N28.04 trillion in January was largely driven by fresh fund inflows and valuation gains, particularly in the equities segment.
Investments in domestic equities rose to N5.41 trillion, highlighting pension funds’ increasing participation in the Nigerian stock market.
In contrast, foreign equity exposure remained modest at N261.99 billion, reflecting a cautious approach by fund managers amid global economic uncertainties.
Allocation to non-sovereign debt instruments also increased, with corporate debt securities rising to N2.25 trillion and state government bonds totaling N368.99 billion.
Liquidity within the system remained strong, as money market instruments climbed to N2.74 trillion, comprising fixed deposits and bank acceptances of N2.50 trillion and commercial paper investments of N209.23 billion.
Alternative assets, while still modest, also recorded growth. Infrastructure funds were valued at N300.02 billion, private equity at N258.31 billion, real estate at N169.52 billion, and Real Estate Investment Trusts (REITs) at N77.64 billion.
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Among the Retirement Savings Accounts (RSAs), RSA Fund IV retained its position as the largest contributor to asset growth, with total assets of N12.67 trillion, driven by a concentration of active contributors. RSA Fund II also accounted for a significant share of total pension assets.
Membership in RSAs continued to expand, surpassing 11.13 million as of February, reflecting sustained growth in pension enrolment across the country.
The latest data underscores the resilience and growing depth of Nigeria’s pension system, with strong participation in domestic markets and steady expansion of the overall asset base.
