Nigeria’s pension assets grew by N541 billion month-on-month, reaching N21.92 trillion by the end of October 2024.
This represents a 24.14% increase compared to the previous year.
The National Pension Commission (PenCom) attributes this growth to an increase in new registrations and returns on investment earned by Pension Fund Administrators (PFAs).
In terms of asset allocation, FGN Securities continue to dominate, recording N13.57 trillion in October. This includes N11.76 trillion in FGN bonds and N499.19 billion in treasury bills. Domestic ordinary shares accounted for N2.11 trillion, while money market instruments held N2.20 trillion.
The number of registered contributors also increased, reaching 10,535,608 in October, up from 10,498,055 in September.
Analysts note that the steady growth in pension assets reflects a robust system that continues to attract new registrations and achieve higher returns on investment.
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