Nigeria Archives - Page 2 of 23 - Pension Policy International

01AprApril 1, 2026

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

NewsInformal Sector, Nigeria

12MarMarch 12, 2026

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

NewsCoverage, Gender Gap, Nigeria

06MarMarch 6, 2026

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

Articles, Pension Management2026, Nigeria, Pension Management, Regulation, supervision

24FebFebruary 24, 2026

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

NewsCoverage, Nigeria, Poverty

23FebFebruary 23, 2026

Nigeria. Ogun introduces fresh pension benefit to boost CPS confidence

The Ogun State Government has introduced an Additional Pension Benefit (APB) to address stakeholder concerns following the full implementation of the Contributory Pension Scheme (CPS) in the state. Approved by Governor Dapo Abiodun, the initiative was announced after consultative meetings with organised labour, the State and Local Government Pension Administration Committees, and the Commissioner for Finance and Chief Economic Adviser, Dapo Okubadejo. The CPS became fully operational in Ogun State on July 2, 2025. The APB is a one-off payment at retirement designed to...

February 23, 2026

NewsNigeria, Pension Reform

18FebFebruary 18, 2026

Nigeria. Ogun govt clears pension backlog, boosts retiree welfare

The Ogun State Government has announced the clearance of pension and gratuity arrears owed to workers who retired between 2012 and 2020, reaffirming its commitment to the welfare of retirees. The disclosure was made on Tuesday by the Economic Adviser and Commissioner for Finance, Dapo Okubadejo, during a media briefing organised by the Ogun State Ministry of Budget and Planning. Okubadejo explained that the backlog was linked to the Defined Benefits Scheme, under which retirees receive monthly pensions, noting that the current...

February 18, 2026

NewsNigeria, Pension Payouts

11FebFebruary 11, 2026

Nigeria Turns to Fintech Model to Fix Informal Sector Pension

For six years, Nigeria’s “Micro Pension Plan” (MPP) has been inactive. It was launched in 2019 by the Buhari administration to include millions of traders, artisans, and gig workers in the pension system. However, progress has stalled. As of Q3 2024, only about 164,000 out of a target of roughly 75 million informal workers had registered. Of these, only about 12,000 had funded accounts. This means coverage is effectively zero. On Monday, the National Pension Commission (PenCom) made a significant change....

February 11, 2026

NewsFintech, Informal Sector, Nigeria

22JanJanuary 22, 2026

Nigeria. ‘Only 215,914 informal workers enrolled in personal pensions as 92m remain uncovered’

The National Pension Commission (PenCom) has disclosed that just 215,914 Nigerians in the informal sector are enrolled in the Personal Pension Plan (PPP), leaving about 91.88 million workers without any form of pension cover out of an estimated 92.1 million informal-sector workforce. The pension regulator, in its third-quarter 2025 report, said the figures highlight the enormous untapped potential within the informal sector and underscore the need for a more deliberate and coordinated industry-wide strategy to deepen micro-pension adoption. PenCom noted that...

January 22, 2026

NewsCoverage, Informal Sector, Nigeria

12JanJanuary 12, 2026

Nigeria. Driving growth with recapitalisation

With macroeconomic headwinds still blowing, regulatory shakeups underway, and citizens demanding more value for their trust, Omobola Tolu-Kusimo writes on whether 2026 could be the year these industries either break new ground or stay stuck in the cycle of unrealized potential. The year 2025 ended with increased premiums, improved regulatory oversight, and renewed investor interest following NAICOM’s enforcement of the Nigerian Insurance Industry Reform Act, 2025 (NIIRA 2025).reforms and recapitalisation efforts. However, insurance penetration remains below 1per cent, a stubborn reminder...

January 12, 2026

NewsInformal Sector, Nigeria, Pension Reform

16DecDecember 16, 2025

Nigeria. 92.4% of Personal Pension accounts unfunded despite push

Industry data indicate that the majority of the Retirement Savings Accounts under the rebranded Personal Pension Plan were largely unfunded, marking a glaring disparity between registration and actual contribution within the micro-pension scheme. This is against the backdrop of Nigeria’s pension industry recording a 5.93 per cent increase in its Total Net Asset Value to N26.09tn as of the end of the third quarter from N24.63tn in June 2025, driven by strong investment returns in equities and government securities. The PPP...

December 16, 2025

NewsNigeria, savings

April 2026

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

March 2026

Nigeria. PenCom targets one million informal women for pension

Managing Retirement Risk: Policy Choices in Pension Fund Administration

February 2026

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

Nigeria. Ogun introduces fresh pension benefit to boost CPS confidence

Nigeria. Ogun govt clears pension backlog, boosts retiree welfare

Nigeria Turns to Fintech Model to Fix Informal Sector Pension

January 2026

Nigeria. ‘Only 215,914 informal workers enrolled in personal pensions as 92m remain uncovered’

Nigeria. Driving growth with recapitalisation

December 2025

Nigeria. 92.4% of Personal Pension accounts unfunded despite push