Nigeria’s pension assets hit N31.3trn — PenCom

Nigeria’s pension fund assets achieved a historic milestone, soaring to an unprecedented N31.32 trillion in May 2026.

This was revealed in the latest data published by the National Pension Commission (PenCom) in an unaudited report on June 29, 2026.

The new data revealed a 1.23% month-on-month growth from the N30.94 trillion recorded in April.

It also represents an impressive 29.5% year-on-year expansion compared to the N24.18 trillion reported in May 2025, adding roughly N384.98 billion in just one month.

Analysts attribute this continuous growth to the resilience of the country’s pension sector, which has steadily expanded despite persistent macroeconomic hurdles like inflation, liquidity constraints, and currency volatility.

A closer look at the asset distribution reveals a deep preference among Pension Fund Administrators (PFAs) for low-risk, high-yield fixed-income instruments.

More than half of the total assets, totaling N17.48 trillion, were allocated to Federal Government securities. This allocation features N13.48 trillion in held-to-maturity government bonds and N1.13 trillion in Treasury bills, alongside N361.53 billion in State Government securities and N77.64 billion in held-to-maturity Sukuk bonds.

PFAs also held N3.01 trillion in money market instruments and N271 billion in mutual funds. Beyond fixed income, pension managers significantly expanded their footprint in the domestic equities market during the early months of the year, driving local stock investments up by 38.09% to N5.46 trillion by the end of the first quarter.