Nigeria’s pension industry recorded a sharp increase in contributions in the third quarter of 2025 as stricter regulatory enforcement by the National Pension Commission (PenCom) boosted remittances from employers, pushing total inflows to N233 billion.
The surge represents a significant departure from the less than N150 billion quarterly inflows recorded earlier in the year and reflects the commission’s more assertive deployment of pension clearance and compliance certificates, particularly for organisations seeking government contracts and official approvals.
PenCom officials disclosed this at the commission’s 2025 media conference in Lagos, noting that heightened monitoring and enforcement had improved compliance across the public and private sectors.
“Following the circular and stricter monitoring, issuances in the third quarter increased to about N233 billion, significantly above the historical average,” PenCom’s Director-General, Ms Omolola Oloworaran, said.
She described the development as evidence of growing regulatory discipline and an improving compliance culture within the economy.
Industry operators said the uptick underscores the effectiveness of enforcement in deepening the Contributory Pension Scheme (CPS), especially at a time when long-term domestic savings are critical for economic stability and capital market development.
Beyond compliance gains, Oloworaran commended the Federal Government for releasing N758 billion to clear outstanding pension liabilities, describing the intervention as a turning point for the industry.
“This is a new era for Nigeria’s pensioners. Beyond the N758 billion, we are seeing a system that is becoming more inclusive, resilient, transparent, and trusted,” she said.
She disclosed that the payment had helped clear long-standing pension increase arrears for treasury-funded federal retirees, some dating back to 2007, and announced the restoration of zero waiting time for payment of accrued pension rights, effective July 2025.
Stakeholders said the reforms, anchored on PenCom’s Pension Revolution 2.0 agenda, could further boost participation, strengthen asset accumulation, and enhance the sector’s role as a stable source of long-term funding for infrastructure and economic development.
“The pension reform process is no longer a promise; it is an irreversible process already in motion,” Oloworaran added.
