Pension Fund Growth Signals Stronger Confidence in CPS

Nigeria’s pension assets have increased by 51 per cent over the past two years, rising from ₦20.79 trillion to ₦31.48 trillion as of July 2026, according to the National Pension Commission (PenCom).

The commission said the growth reflects renewed confidence in the Contributory Pension Scheme (CPS), driven by stronger regulation, professional fund management and increased participation.
PenCom Director-General, Omolola Oloworaran, disclosed this while briefing the State House Press Corps on Tuesday. She said pension assets grew by ₦10.7 trillion within the period, while active CPS membership increased by 938,229 contributors, bringing the total number of registered members to 11.32 million. According to her, the growth was supported by improved investment returns and higher participation in the pension scheme.
Oloworaran also highlighted the Federal Government’s issuance of a ₦758 billion Pension Bond earlier this year, describing it as a major milestone that cleared long-standing pension liabilities dating back to 2007. She added that monthly pension payments have risen by 22 per cent from ₦12.2 billion to ₦14.9 billion. In addition, over 195,000 eligible retirees have benefited from the approved ₦32,000 monthly consequential pension adjustment following the implementation of the new national minimum wage.
The PenCom boss attributed the sustained growth to the Pension Reform Act of 2004, which introduced the Contributory Pension Scheme and replaced the old defined-benefit system. She, however, noted that inflation, low participation from the informal sector and limited infrastructure investment opportunities remain challenges. Industry analysts believe that expanding pension coverage, diversifying investment opportunities and protecting contributors’ returns against inflation will be key to sustaining the sector’s growth and supporting Nigeria’s long-term economic development.