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Pension Assets Hit ₦31.32tn Record in May – PenCom

Nigeria’s pension fund assets rose to a record ₦31.32 trillion in May 2026, according to the National Pension Commission (PenCom) unaudited report.

The figure represents a 1.23% increase from April’s ₦30.94 trillion, with the industry adding nearly ₦385 billion in one month. Year-on-year, assets grew by 29.5%, up from ₦24.18 trillion in May 2025.

PenCom said the growth underscores the resilience of the pension sector, which has expanded despite inflation, exchange rate volatility, and other macroeconomic challenges.

Most assets remain invested in Federal Government securities, totaling ₦17.48 trillion, including ₦13.48 trillion in bonds, ₦1.13 trillion in treasury bills, ₦361.5 billion in state securities, and ₦77.6 billion in Sukuk bonds.

Investments in money market instruments stood at ₦3.01 trillion, while mutual funds accounted for ₦271 billion. Elevated yields on government securities continue to support asset growth.

The report also highlighted increased exposure to domestic equities, with pension fund administrators boosting investments to ₦5.46 trillion in March 2026, up from ₦3.96 trillion at the end of 2025—a 38% year-to-date growth.

Analysts say the expansion reflects stronger investor confidence, improved market performance, and efforts to diversify portfolios beyond fixed income.

With assets now above ₦31 trillion, Nigeria’s pension industry is one of the largest pools of long-term domestic capital, financing government debt, supporting capital market development, and providing retirement security for millions of contributors.