The pension industry has committed N241 billion to an infrastructure development fund, with the amount expected to rise to nearly N300 billion as additional commitments come in, the National Pension Commission, PenCom, says.
The commitment is being made through the Pension Industry Infrastructure Consortium, established by the Pension Industry Leadership Council, PILC, in collaboration with FSD Africa, as part of efforts to channel long-term pension capital into infrastructure development in Nigeria.
“This is the first step we are taking as an industry and this is just the beginning. We are committed to mobilizing capital within the pension industry to deepen infrastructure development in the country,” she said.
According to Oloworaran, the industry expects the commitment to approach N300 billion as outstanding pledges are received.
Also Read: Tinubu unveils $7bn investment package for Ogun seaport
She said pension fund operators were interested in infrastructure investments because of their long-term nature and potential to provide some protection against inflation.
Oloworaran also disclosed that the council had approved an independent global benchmark maturity assessment for the pension industry.
She said the assessment was aimed at measuring the industry against international standards and strengthening adherence to global best practices.
“We think it is something we need to do in order to elevate the industry to global standards and ensure that we operate within best practices across the board,” she said. The PenCom boss said the assessment would be concluded soon.
She also announced that the 2026 Pension Week would take place from October 26 to 30, with further details to be released during subsequent engagements with the media.
Oloworaran said the industry was also developing the Pension Transformation Agenda 2030, which would formalize ongoing reforms and set out the sector’s direction through 2030. She said the agenda would also define the impact the industry seeks to make on the lives of Nigerians.
NAN
