Federal Government securities and domestic stocks now account for 74.85 per cent of Nigeria’s total pension fund assets, according to the latest industry data.
The National Pension Commission released the unaudited portfolio report showing total assets reached N28.04 trillion as of January 31, 2026.
The pension industry recorded monthly growth of N580.22 billion in January, increasing the net asset value from N27.46 trillion at the end of December 2025.
Year-on-year, total pension assets rose significantly by N5.17 trillion, reflecting continued contributions and investment returns.
Federal Government securities and domestic ordinary shares jointly account for N20.59 trillion of the total portfolio, underscoring the dominance of these two asset classes.
Federal Government securities alone total N16.7 trillion, including bonds, treasury bills, and other government-backed instruments.
Domestic ordinary shares contribute N4.29 trillion across key sectors of the economy, highlighting pension fund administrators’ preference for local equities.
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This allocation pattern reflects regulatory investment limits governing pension fund administrators, which guide how contributors’ funds are allocated across approved asset classes.
Other investment categories also feature in the portfolio, with corporate bonds and money market instruments contributing to the remaining asset pool.
Foreign ordinary shares account for N262.99 billion, largely from Fund I allocations, while corporate debt securities total N2.23 trillion held mainly in Funds I and II.
Money market instruments contribute N2.75 trillion to the portfolio, including fixed deposits, bank acceptances, and treasury bills concentrated in Funds III and IV.
Nigeria’s pension system operates multiple funds structured by age and risk appetite, with Fund I targeting younger contributors and Fund II serving as the default mid-risk option.
The Revised Pension Investment Regulations protect retirement savings while enabling moderate returns, allowing up to 100 per cent investment in Federal Government securities due to low risk profiles.
