The Net Asset Value (NAV) of Nigeria’s pension fund assets reached a record ₦27.45 trillion as of early 2026, reflecting a significant upward trajectory for the industry. This growth follows a strong close to 2025, where assets jumped by 22 percent to ₦26.7 trillion by October, driven by increased contribution inflows and a robust performance in the domestic equities market.
The National Pension Commission (PenCom) has attributed the continued surge to its strategic diversification policy, which has seen fund managers move away from traditional government securities toward more lucrative long-term development assets and private equity.
Investment in Federal Government Securities remains the largest component of the portfolio at roughly 60 percent, but Domestic Ordinary Shares have seen the fastest growth, increasing by over 80 percent year-on-year.
This shift reflects renewed investor confidence in the Nigerian Exchange (NGX), where pension fund holdings in equity investments rose to reach ₦3.84 trillion. Furthermore, the industry has seen a massive expansion in Mutual Fund and Infrastructure Fund investments, which more than doubled in value as pension funds increased their exposure to national development projects and alternative assets.
The expansion is also supported by a rise in the number of Retirement Savings Accounts (RSAs), which has now crossed the 11 million mark. Increased participation from the youth and the informal sector via the Micro Pension Plan (MPP) has added a steady stream of new contributions.
To safeguard this massive pool of capital, PenCom has introduced stricter recapitalization requirements for Pension Fund Administrators (PFAs), raising the minimum capital to ₦20 billion to ensure that operators have the financial depth to manage the rapidly growing assets while maintaining high service standards for Nigerian retirees.
 of Nigeria's pension fund assets reached a record ₦27.45 trillion as of early 2026, reflecting a significant upward trajectory for the industry. This growth follows a strong close to 2025, where assets jumped by 22 percent to ₦26.7 trillion by October, driven by increased contribution inflows and a robust performance in the domestic equities market.){kind=link}