Nigeria’s pension fund grew by N1.42trn in 2 years - PenCom
The National Pension Commission (PenCom) have revealed that pension funds grew from N4.6tn recorded at the end of 2014 to N6.02tn as at November 2016. According to the Body, Nigeria had accumulated a pension asset of N5.3 trillion as at the end of 2015, which is N700 billion less than the current value.
The PenCom expresses hopes that by 2020, Nigeria’s total pension asset may hit N20 trillion. The apex pension regulatory body in the country had drafted a guideline to allow Pension Fund Administrators invest the funds in infrastructure development, with the Minister of Power, Works and Housing, Babatunde Fashola, throwing his weight behind the move.