Nigeria’s pension fund assets hit record N31.32 trillion

Nigeria’s pension fund assets rose to a record N31.32 trillion in May 2026. This is according to the National Pension Commission’s unaudited report for the month ended May 31, released on June 29.

The latest figure is a 1.23% increase from the N30.94 trillion recorded in April. The industry added about N384.98 billion in assets in one month. It also marks a 29.5% year-on-year growth compared to N24.18 trillion in May 2025.

The performance shows the resilience of Nigeria’s pension sector. It has continued to grow despite inflation, exchange rate volatility, and a tough economic environment.

What the data says

Data from PenCom shows most pension fund assets are still invested in Federal Government securities. Pension fund administrators prefer these safer fixed-income instruments. Total investments in Federal Government securities stood at N17.48 trillion. That is more than half of total pension assets.

A breakdown of the portfolio shows:

Federal Government Bonds (Held-to-Maturity): N13.48 trillion

Treasury Bills: N1.13 trillion

State Government Securities: N361.53 billion

Sukuk Bonds (Held-to-Maturity): N77.64 billion

The report says elevated yields on government securities continue to support asset growth. Equity market gains have moderated. Investments in money market instruments amounted to N3.01 trillion. Mutual fund investments stood at N271 billion.

Growth trend

The May figure extends a strong growth trend since the start of the year. In April 2026, pension assets stood at N30.94 trillion. That was up from N29.52 trillion in March. March assets increased by 0.31% month-on-month from N29.43 trillion in February. This reflects steady growth despite tight liquidity and ongoing portfolio adjustments.

Earlier in the year, pension assets rose to N28.04 trillion in January 2026. That was a 2.11% increase from N27.46 trillion in December 2025. On a year-on-year basis, January’s figure was 22.64% higher.