Nigeria’s pension funds have committed ₦241 billion to infrastructure investment through the Pension Industry Infrastructure Consortium, with the figure expected to rise to almost ₦300 billion as additional commitments are received.
Omolola Oloworaran, director-general of the National Pension Commission (PenCom), disclosed this at a press conference where she outlined key initiatives being pursued by the pension industry.
The consortium was established by the Pension Industry Leadership Council (PILC), in collaboration with FSD Africa, to mobilise pension industry capital for infrastructure development in Nigeria.
Oloworaran said the industry expects investments in infrastructure projects under the initiative to begin in the second quarter of 2027, as the implementation timetable is developed.
“As part of that initiative, pension funds have, as of today, committed a total of ₦241 billion, and we expect that to touch almost ₦300 billion very soon, as soon as we get all the commitments in,” she said.
She described the initiative as an early step towards creating a coordinated approach to deploying pension assets into infrastructure, noting that such assets are suited to the long-term investment horizon of pension funds.
The PenCom DG said infrastructure investments could also provide pension funds with some protection against inflation while supporting the financing of projects that contribute to economic development.
The development comes as the pension industry seeks to expand the role of its assets beyond traditional investments and increase its contribution to Nigeria’s infrastructure financing needs.
Oloworaran also disclosed that the industry had approved an independent global benchmark maturity assessment to evaluate the Nigerian pension sector against international standards.
She said the assessment, which is expected to be concluded soon, would help identify areas for improvement and strengthen adherence to global best practices.
“We think it’s something we need to do in order to elevate the industry to global standards and to ensure that we operate within best practice across board,” she said.
Meanwhile, PenCom has announced that Pension Week 2026 will hold from October 26 to 30, with further details expected to be released in the coming days.
She further disclosed that the pension industry is developing a Pension Transformation Agenda 2030 to formalise ongoing initiatives and establish a longer-term direction for the sector.
According to her, the agenda will focus on where the industry should be by 2030 and the impact it intends to have on Nigerians.
The initiatives form part of broader efforts by the pension industry to strengthen its operating standards, increase its contribution to economic development and improve the long-term value delivered to pension contributors and retirees.
