The federal government has called for the strategic deployment of Nigeria’s pension assets, now valued at over N23 trillion, to advance key sectors of the economy and accelerate national development.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made the call over the weekend at the 2025 Pension Industry Leadership Retreat held in Lagos.
The event, themed “Sustainable Retirement, Strategic Blueprint for Economic Development and Inclusion,” brought together stakeholders across the financial and pension sectors.
Speaking at the retreat, Mr. Edun described the pension industry as a major driver of long-term economic growth. He noted that with pension assets now accounting for about 8.6 percent of Nigeria’s Gross Domestic Product (GDP), there is a significant opportunity to align these funds with the country’s strategic priorities, including infrastructure development, affordable housing, energy access, and digital transformation.
While recognizing the success of Nigeria’s Contributory Pension Scheme (CPS), which has grown into one of the most robust savings platforms in Africa, Mr. Edun observed that the country still falls short when compared to global benchmarks for pension penetration.
He called on industry stakeholders to explore safe, well-regulated investment vehicles that deliver both impact and steady returns.
Citing recent macroeconomic indicators, Edun referenced the 3.84 percent GDP growth recorded in the first quarter of 2025, as well as improvements in foreign reserves and exchange rate stability. Despite these gains, he pointed out that the pace of growth remains insufficient to make a significant dent in poverty levels.
“To reduce poverty and create meaningful opportunities, we need to achieve a growth rate of at least 7 percent annually,” he said. “Currently, the national budget accounts for just 10 percent of GDP. This means institutional investors like pension funds must play a more prominent role in financing the real sector.”
