Total pension fund assets in the Nigerian pension fund industry have risen to a new milestone of N28.04 trillion as of 31 January 2026.
According to the latest unaudited report on the pension funds industry portfolio, this indicates a 22.64 per cent appreciation in pension assets from N22.86 trillion in January 2025.
This is just as the contributor base also witnessed significant growth, with Registered Savings Account membership reaching 11,084,127 as of January 2026.
According to the report, the industry recorded a significant monthly growth of N580.22 billion, rising from a previous net asset value of N27.46 trillion at the end of the prior period.
On an annual basis, the increase represents an addition of N5.17 trillion within one year.
Federal Government of Nigeria securities accounted for N16.69 trillion of the total portfolio, with Federal Government Bonds (Held to Maturity) being the single largest investment vehicle, totalling N13.16 trillion.
Other FGN investments include Treasury Bills: N894.09 billion, Sukuk Bonds (HTM and AFS) totalling over N100.18 billion, and Green Bonds standing at N18.30 billion.
The industry also maintained a strong presence in the capital markets. Domestic Ordinary Shares accounted for N4.29 trillion in investments, distributed across various fund types. Foreign Ordinary Shares are exclusively held within Closed Pension Fund Administrators, totalling N262.99 billion. Corporate Debt Securities also represent a significant portion of the assets, valued at N2.24 trillion. This includes N1.45 trillion in Corporate Bonds and N67.42 billion specifically dedicated to Corporate Infrastructure Bonds.
To maintain liquidity, the industry holds N2.75 trillion in Money Market Instruments, with the vast majority, N2.48 trillion, placed in Fixed Deposits and Bank Acceptances.
Alternative asset classes continue to play a vital role in portfolio diversification; infrastructure fund investment stood at N292.32 billion, private equities at N241.85 billion, real estate at N170.04 billion, and Mutual Funds received N240.49 billion.
Among the various fund structures, RSA Fund II remains the largest, commanding a net asset value of N11.86 trillion, followed by RSA Fund III at N7.19 trillion. The retiree-focused Fund IV holds N2.27 trillion, reflecting the industry’s commitment to providing stable returns for those in their post-employment years.
