Nigeria’s pension fund assets rose to N26.09 trillion at the end of the third quarter of 2025, marking a year-on-year growth of 22.03 per cent. The increase, which amounts to more than N4.71 trillion, reflects higher investment by Pension Fund Administrators in Federal Government securities. This is according to the latest Monthly Industry Report released by the National Pension Commission.
The figures showed that the assets grew from N21.38 trillion in September 2024 to N26.09 trillion in September 2025. Nigeria’s pension fund crossed the N25 trillion mark in July when it closed at N25.79 trillion. It climbed further in August, rising by about N97.88 billion.
Federal Government securities remained the largest investment destination for PFAs. These include bonds, Sukuk, treasury bills and agency securities. According to PenCom, the instruments accounted for about 60 per cent of total pension assets. PFAs increased their exposure to government securities by about N3 trillion within the one-year period. Analysts say this trend reflects confidence in Federal Government instruments as the broader economy faces persistent uncertainties.
Investment in Domestic Ordinary Shares also recorded strong growth. PenCom’s data showed that equity holdings increased by around N1.6 trillion year-on-year. Improved market valuations, better liquidity and fresh investor appetite contributed to the gains recorded in the equities market.
Corporate debt instruments received more attention as well. PFAs allocated more funds to corporate bonds as credit conditions improved for highly rated issuers and activity in the corporate debt market picked up.
The pension sector also recorded growth in Retirement Savings Accounts. RSA membership rose to about 10.9 million due to stricter compliance checks, increased onboarding of private sector employees and improved interest in the rebranded Personal Pension Plan.
The new figures follow an earlier development reported by BizWatch Nigeria in which PenCom confirmed that more than N130 billion of pension funds had been invested in infrastructure. The Commission said the investment was part of a long-term plan to fund critical national projects while safeguarding contributors’ funds.
Industry analysts note that the growth in pension assets suggests a stronger domestic savings base. They add that the increased allocation to government securities and infrastructure could provide the Federal Government with more room to raise capital for development projects.
