RismadarVoice Reporters
October 7, 2026
The National Pension Commission, PenCom, says Nigeria’s pension industry has committed $250 million towards infrastructure investment over the next decade as part of efforts to channel pension assets into productive sectors of the economy.
PenCom Director-General, Omolola Oloworaran, disclosed this at the commission’s 2026 media conference in Lagos, themed, “From Reform to Reality: Renewed Hope, Pension Security for Nigerians.”
Oloworaran said pension fund operators had committed $200 million as an anchor investment, while an additional $50 million was expected from development finance institutions.
She described the $250 million commitment as an initial investment, adding that details of the infrastructure projects to benefit from the funding were expected to be announced between the first and second quarters of 2027.
According to her, the pension industry currently has about ₦420 billion invested in infrastructure, with the amount potentially rising to nearly ₦1 trillion in the coming years.
She said PenCom would continue to prioritise investments capable of generating secure returns for pension contributors while ensuring that contributors’ funds remained adequately protected.
Oloworaran also disclosed that monthly pension payments under the Contributory Pension Scheme had increased from ₦12.15 billion to ₦14.83 billion following an adjustment in benefits for more than 241,000 retirees.
She described the adjustment as the first across-the-board pension increase for retirees under the scheme, saying it was intended to provide greater financial support to beneficiaries.
PenCom also announced a major review of benefits for retirees of the defunct Nigerian Social Insurance Trust Fund, NSITF, whose pensions had remained unchanged since 2005.
According to Oloworaran, the review produced an average increase of 1,173 per cent for 2,116 NSITF retirees, raising their combined monthly pension payments from ₦12.6 million to ₦159.95 million.
She added that ₦8.7 billion in outstanding pension arrears had been fully paid, while some individual retirees recorded significant increases in their monthly benefits.
The commission said the measures form part of continuing reforms aimed at improving retirement security while expanding the role of pension assets in financing long-term economic development.
