Director-general of the National Pension Commission (PenCom), Omolola Oloworaran, has projected that Nigeria’s pension industry could expand to as much as N100 trillion in assets within the next five years, underscoring rising confidence in the country’s institutional investment framework.
Speaking at the FSDH Investors Conference held in Lagos yesterday, Oloworaran disclosed that pension assets currently stand at about N29.5 trillion and are expected to cross the N30 trillion mark very soon, describing the trajectory as a reflection of the sector’s growing depth and resilience.
Oloworaran expressed optimism that sustained reforms, broader participation, and improved investment structures could significantly accelerate industry growth, pushing total assets to unprecedented levels over the medium term.
‘We are N29.5 trillion in pension fund assets, and we are heading to N30 trillion very soon’, she said.
She pointed out that the steady expansion highlights the strengthening fundamentals of Nigeria’s pension ecosystem.
Oloworaran emphasised the increasing role of pension funds as a critical source of long-term capital for infrastructure development and broader economic transformation.
She noted that institutional funds remain uniquely positioned to support national development due to their long-term investment horizon and large asset base.
She pointed out that unlocking this potential would require stronger regulatory frameworks, improved de-risking mechanisms, and deeper collaboration between government, regulators, and private sector players.
‘Institutional capital, especially pension funds, has the scale and patience required to finance infrastructure, but it must be supported by the right frameworks, de-risking mechanisms, and collaborative partnerships’, she said.
Looking ahead, Oloworaran reiterated her bold projection for the sector, stating that Nigeria could be looking at N100 trillion in pension assets within five years under the right conditions.
‘In five years we could be looking at maybe N100 trillion in pension assets, which I’m being very optimistic about. So we want to change the landscape of the business, bring new and fresh people into the system’, she added.
Oloworaran further highlighted recent reforms aimed at improving retirement outcomes and strengthening confidence in the system, noting that the introduction of Pension Boost 1.0 had already led to a significant improvement in payouts.
