The National Pension Commission (PenCom) revealed yesterday that Nigeria’s pension fund assets have surged to N21.92 trillion as of October 2024, reflecting a substantial increase of N1.113 trillion from the N20.79 trillion reported in July.
PenCom Director General, Omolola Oloworaran, who made this known, also revealed that the Commission recorded 10.53 million registered contributors as of the same month.
Oloworaran spoke at the 2024 PenCom Media Conference, themed “Tech-Driven Transformation: Shaping the Pension Landscape,” held in Abuja on Thursday.
She stated that the figures reflect the Commission’s unwavering commitment to fund safety, prudent management, and sustainable growth.
However, the DG noted that the economic realities of 2024 and preceding years, including high inflation, the devaluation of the naira, and the lingering effects of unorthodox monetary policies, have eroded the real value of pension funds and impacted contributors’ purchasing power.
To address these challenges, Oloworaran said PenCom has initiated a comprehensive review of its Investment Regulations, focusing on diversifying pension fund investments into inflation-protected instruments, alternative assets, and foreign currency-denominated investments.
