Nigeria’s pension assets have grown by 51 per cent over the past two years, increasing from ₦20.79 trillion to ₦31.48 trillion, according to the Director-General of the National Pension Commission (PenCom), Omolola Oloworaran.

Speaking at a press conference, Oloworaran also disclosed that membership of the Contributory Pension Scheme (CPS) rose by nearly one million contributors, bringing the total number of registered members to 11.32 million.

She attributed the growth to sustained reforms in the pension industry, improved regulatory oversight and increased public confidence in the Contributory Pension Scheme.

The PenCom Director-General said the expansion of pension assets and membership reflects the resilience of Nigeria’s pension sector and its growing role in promoting long-term savings, financial security for retirees and national economic development.

She reaffirmed the commission’s commitment to strengthening the pension system, expanding coverage and safeguarding contributors’ retirement savings through effective regulation and prudent fund management.