Nigeria’s pension industry continued its steady climb in September 2025, reaching ₦26.09 trillion, up from ₦25.90 trillion in August.
This represents a 0.75% monthly rise and a 23.44% year-on-year growth, showing resilience despite mixed market conditions.
Nigeria’s Pension Hits ₦26 Trillion
Meanwhile, contributor numbers increased by 0.42% to 10.93 million, reflecting growing trust in the Contributory Pension Scheme (CPS) even amid economic pressures.
Government instruments remain the industry’s anchor; however, September brought mixed results.
Government Bonds Anchor Growth
Total FGN securities declined 0.50% to ₦15.75 trillion, dragged down by FGN bonds, Sukuk, and agency bonds.
On the other hand, Treasury Bills rose 2.50% to ₦616.33 billion, Green Bonds climbed 7.69% to ₦13.46 billion, and State Government Securities grew 1.33% to ₦240.91 billion.
Consequently, these instruments still make up 60.35% of total pension assets, reflecting a cautious approach amid inflation and exchange rate swings.
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Diversification Gains Momentum
Equities and corporate debt also contributed positively.
Domestic shares increased 1.47% to ₦3.66 trillion, while foreign shares remained nearly flat.
Additionally, corporate debt grew 0.12% to ₦2.24 trillion, signalling slow but steady diversification.
Money market investments rose 0.74% to ₦2.42 trillion, and cash holdings surged 78.45% to ₦518.95 billion, highlighting a tactical shift toward liquidity.
Alternative investments showed mixed performance: REITs jumped 23.61%, open-end funds fell 17.84%, and private equity declined 4.66%.
Among RSA funds, Fund II, the most popular, rose 0.50% to ₦10.96 trillion, contributing 42.1% of total assets, while Fund III increased 0.61% to ₦6.73 trillion.
Micro-pension funds and legacy schemes also recorded steady growth.
Overall, the September data show that Nigeria’s pension sector is resilient, gradually diversifying, and steadily expanding, actively navigating market fluctuations with prudence.
