Abuja, Nigeria – Nigeria’s pension industry opened 2026 with total assets under management reaching N28.04 trillion (approximately $18.6 billion USD). This figure represents a 2.11% increase from N27.46 trillion in December 2025.
Okay News reports that the National Pension Commission released the data on Monday. The growth marks a 22.64% jump compared to N22.86 trillion recorded in January 2025.
The sector demonstrates resilience despite ongoing macroeconomic challenges in Africa’s most populous nation. Pension managers continue to favor fixed income products heavily, particularly federal government securities.
Federal Government of Nigeria instruments remain the backbone of pension portfolios, totaling N16.70 trillion ($11.1 billion USD). These securities contribute 59.55% of total pension assets.
Treasury bills showed notable growth with a 17.48% month-on-month increase. This reflects improved yields and stronger positioning in short-term instruments by pension fund administrators.
Money market instruments rose to N2.75 trillion ($1.8 billion USD), accounting for 9.82% of total assets. Fixed deposits and bank acceptances within this category reached N2.48 trillion, up 9.63% from the previous month.
Conversely, commercial papers declined sharply to N213.79 billion, a 30.36% drop from December 2025. This suggests selective risk reduction by fund managers amid market uncertainty.
Corporate debt securities stood at N2.24 trillion ($1.5 billion USD), representing 7.98% of pension assets. Corporate infrastructure bonds surged 81.30% to N67.42 billion, signaling increasing appetite for structured long-term projects.
Equity allocations remained modest compared to fixed income holdings. Domestic ordinary shares totaled N4.29 trillion ($2.9 billion USD), representing 15.30% of assets and increasing 8.47% month-on-month.
The Retirement Savings Account breakdown shows Fund II dominates with N11.86 trillion ($7.9 billion USD). This mid-risk default category contributes 42.29% of total pension assets.
RSA registrations rose to 11.08 million, indicating gradual expansion of formal pension participation across Nigeria. The industry added roughly N589 billion ($392 million USD) in assets during January alone.
Cash holdings dropped significantly by 39.70% to N450.44 billion. This suggests portfolio reallocation into higher-yielding instruments as fund managers seek better returns.
The pension industry remains heavily supported by sovereign assets. High interest rates continue shaping allocation decisions, driving growth in fixed deposits and treasury bills.
. This figure represents a 2.11% increase from N27.46 trillion in December 2025.){kind=link}