Nigeria’s Pension Industry Plans $250m Infrastructure Investment

Nigeria’s pension industry is set to commit $250 million to infrastructure investment over the next 10 years, the National Pension Commission, PenCom, has announced.

The commission also revealed that monthly pension payments had risen from N12.15 billion to N14.83 billion after more than 241,000 retirees received increased pensions.

PenCom Director-General, Omolola Oloworaran, made the disclosures during the commission’s 2026 media conference held in Lagos under the theme, “From Reform to Reality: Renewed Hope, Pension Security for Nigerians.”

According to Oloworaran, pension fund operators have committed $200 million as anchor investment for infrastructure projects, while another $50 million is being sought from development finance institutions.

This, she said, would bring the total planned commitment to $250 million.

Oloworaran explained that the amount represented an initial investment, noting that further details on the infrastructure projects would be released between the first and second quarters of 2027.

She added that the pension industry currently has about N420 billion invested in infrastructure and that the amount could rise to almost N1 trillion in the coming years.

“Nigeria needs productive investment. Contributors need secure returns. We will serve both through rigorous project selection and uncompromising protection of contributors’ interests,” she said.

Pension payments rise to N14.83bn monthly

Oloworaran disclosed that monthly pension payments had increased to N14.83 billion from N12.15 billion after the pensions of more than 241,000 retirees were increased.

“Nigeria’s pension system is not merely improving, it is making history again and again and again and again. For the first time, retirees across the Contributory Pension Scheme received a pension increase across the board,” she said.

According to her, Pension Boost 1.0 increased the monthly pensions of more than 241,000 retirees, resulting in a rise in total monthly pension payments from N12.15 billion to N14.83 billion.

“For a retired teacher or a retired nurse, that is not a statistic, it is food on the table,” she added.

The PenCom boss further disclosed that pensioners under the defunct Nigerian Social Insurance Trust Fund had, for the first time in 21 years, received a review of their pensions.

“Their pensions have stood still since 2005. We invoked the law. We directed a full review and delivered an unprecedented increase of 1,173% on the average. Monthly pensions for the 2,116 NSITF retirees rose from N12.6 million to N159.95 million. And in addition to that, arrears totaling N8.7 billion was paid in full.

“One retiree who received about N18,000 a month now receives as of January and in July when I mentioned it, and today and going forward receives N206,000.”

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