Despite a tumultuous economic climate, Nigeria’s non-pension asset management industry experienced remarkable growth in 2024, with total assets under management (AuM) increasing by 71.2 per cent to reach N10.1 trillion.
According to a report by Agusto & Co., this growth was driven by macro-economic factors, regulatory reforms, and heightened investor engagement, particularly from the retail segment.
“In a year defined by significant macroeconomic instability and soaring inflation, Nigeria’s non-pension asset management industry did not just survive; it thrived, spectacularly. Total assets under management increased by 71.2 per cent to reach an aggregate of N10.1 trillion.
“This considerable expansion was underpinned by a confluence of macroeconomic factors, regulatory reforms, and heightened investor engagement, particularly from the retail segment.
“The proliferation of digital investment platforms prised open market access for a new generation of younger, digitally-native investors, democratising access to wealth creation like never before,” Agusto & Co. said.
However, the report noted that the sustainability of this growth is uncertain, as it appears to be predicated on volatile economic conditions.
It stated, “The industry’s growth was largely driven by investors seeking safe havens from inflation and currency fluctuations.”
