Pension assets up N10.7trn in 2 years as FG settles 17-year backlog
Pension fund assets in Nigeria rose by N10.7 trillion in two years, climbing from N20.79 trillion in July 2024 to N31.48 trillion in July 2026. This is even as the Federal Government cleared inherited pension liabilities dating back to 2007 with a N758 billion intervention bond. The Director-General of the National Pension Commission (PenCom), Ms […]
Nigeria's pension fund assets surged by N10.7 trillion over two years, reaching N31.48 trillion in July 2026 from N20.79 trillion in July 2024. The Federal Government resolved an inherited 17-year pension liability backlog with a N758 billion intervention bond. The National Pension Commission (PenCom) DG, Ms Omolola Oloworaran, disclosed these figures at the 2026 PenCom Media Conference in Lagos.
The increase reflected more than 938,229 Nigerians joining the Contributory Pension Scheme (CPS) during the same period. Pension payments for over 241,000 retirees rose from N12.15 billion to N14.83 billion monthly. A new exit benefit scheme for Treasury-funded Ministries, Departments, and Agencies (MDAs) provides eligible employees with a 100% additional benefit equivalent to their total emolument, on top of normal pension benefits.
PenCom reduced retirement benefit approval time from 21 months to 48 hours for eligible Federal workers and private-sector retirees. Two initiatives aimed at enhancing retirement security were announced: PenCare Retiree Health Programme for essential healthcare and Minimum Pension Guarantee to establish a floor below which retirees would not fall.
The Federal Government settled all inherited pension liabilities, some dating back to 2007, marking a decisive end to decades of delayed benefits across multiple administrations.
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