June 2026
29Jun

Nigeria. PenCom’s pension expansion drive targets nine million transport workers

The National Pension Commission (PenCom) has rolled out a fresh drive to extend pension coverage to about nine million transport workers under the Personal Pension Plan (PPP). The plan is expected to deepen financial inclusion and expand social security for the informal sector operators. The initiative, being developed in partnership with the National Union of Road Transport Workers (NURTW), is expected to increase retirement savings among workers in one of Nigeria’s largest informal-sector groups while creating a framework for structured financing of mass-transit vehicles...

June 29, 2026
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18Jun

Nigeria. Over 92% of personal pension savings accounts remain unfunded

Amidst efforts by the National Pension Commission, PenCom, to include informal sector workers in the pension scheme, the Personal Pension Plan, PPP, which caters to the informal sector, has remained stagnant. While the PPP has 215,412 registered Retirement Savings Accounts, RSAs, only 17,320 of these RSAs, which represents 8.0 per cent, have received contributions. The remaining 198,092 RSAs, which represent 92.0 per cent, are dormant. PenCom, in its fourth quarter 2025 report stated that registrations are not savings and registration without funding...

June 18, 2026
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02Jun

Nigeria. Unremitted pensions: The silent threat to workers’ retirement security

For millions of Nigerian workers enrolled under the Contributory Pension Scheme (CPS), monthly pension deductions are expected to provide financial security after retirement. However, a growing challenge within the system is threatening that promise: The persistent failure of some employers to remit pension contributions deducted from employees’ salaries. Despite nearly two decades of pension reform and significant growth in pension assets, non-remittance of pension contributions remains one of the biggest compliance concerns facing Nigeria’s pension industry. The practice cuts across...

June 2, 2026
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April 2026
30Apr

Nigeria: CPs – Pencom Sustains Push for States, Others

The National Pension Commission has sustained the drive for states, local governments and employers in formal sector to fully embrace the Contributory Pension Scheme, writes Ebere Nwoji One of the major headaches of the present leadership of the pension sector regulatory authority, the National Pension Commission (PenCom), is how to succeed in making every Nigerian with genuine means of livelihood enrol into the Contributory Pension Scheme (CPS). The commission said the overall aim is to ensure that at advanced age, every...

April 30, 2026
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23Apr

Can Nigeria’s N27 Trillion Pension Assets Rescue Its Aailing Health Sector?

Nigeria’s pension fund assets experienced an unprecedented 20% surge in 2025, reaching a total of N27.3 trillion (approximately KES 2.35 trillion) by the end of December. While this growth represents a significant triumph for the National Pension Commission (PenCom), a critical debate is now emerging: can these vast resources be diverted from financing government deficits to fixing Nigeria’s chronic healthcare financing gap? Currently, the overwhelming majority of these assets—over 65%—are invested in Federal Government of Nigeria (FGN) securities. While these...

April 23, 2026
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08Apr

Nigeria. Pension assets jump to N29.43 trillion in February 2026

Nigeria’s pension assets rose to N29.43 trillion in February 2026, marking a month-on-month increase of N1.39 trillion. This is according to the latest data released by the National Pension Commission (PenCom). The increase represents the strongest monthly expansion since the introduction of the Contributory Pension Scheme over two decades ago, surpassing the previous record of N1.18 trillion recorded in January 2024. What the data is saying  PenCom data showed that total pension assets increased from N28.04 trillion in January, driven by fresh contributions and...

April 8, 2026
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01Apr

Nigeria. Informal sector workers protest, seek urgent pension, health reforms

Informal workers under the aegis of the Federation of Informal Workers Organisations of Nigeria (FIWON) staged a protest at the National Assembly, demanding reforms of the pension and health sub-sectors. The General Secretary of FIWON, Gbenga Komolafe, who led the protest, said over 93 per cent of Nigeria’s workforce operates outside formal employment and contributes an estimated 65 per cent to the country’s gross domestic product (GDP). He explained that such workers deserve social protection who are presently underserved. Komolafe warned that the country...

April 1, 2026
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March 2026
12Mar

Nigeria. PenCom targets one million informal women for pension

The National Pension Commission has officially launched an ambitious drive to enrol one million women into the Personal Pension Plan, marking a significant shift in its strategy to extend financial security to Nigeria’s vast informal sector. The initiative was unveiled by the Director-General of PenCom, Ms Omolola Oloworaran, during an outreach campaign held to commemorate International Women’s Day on Tuesday in Lagos. Speaking to market women and entrepreneurs at Mile 12 Market in Lagos, she highlighted the urgent need to bridge...

March 12, 2026
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06Mar

Managing Retirement Risk: Policy Choices in Pension Fund Administration

By Fawaz Adediran & Oluwatobiloba Yomi-Oshatimi This article critically examines the legal and institutional framework governing pension administration and Pension Fund Administrators in Nigeria under the Pension Reform Act 2014. It analyses the structure of the contributory pension scheme, focusing on the statutory separation between Pension Fund Administrators and Pension Fund Custodians as well as the fiduciary obligations imposed on administrators, and the supervisory mandate of the National Pension Commission. The study situates Nigeria's pension reforms within the broader global...

March 6, 2026
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February 2026
24Feb

Nigeria. Fighting poverty in retirement: The role of pensions for informal workers in Nigeria

In Nigeria, the word “pension” evokes different reactions. For many civil servants and corporate workers, it symbolises hope for a near-comfortable retirement. However, for the majority of Nigerians working in the informal sector, it represents a bleak future. These are the market traders, motorcycle riders, small-scale farmers, artisans, and workers in countless micro and nano-scale businesses. With approximately 90% of Nigeria’s workforce operating outside the formal economy, pension coverage for informal workers is almost non-existent. Believe me, this has...

February 24, 2026
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