PenCom tasks stakeholders on proactive steps to realise $1 trillion economy goal

The National Pension Commission (PenCom) has called on the industry’s stakeholders on actionable steps to ensure sustainable development and long-term success towards achieving the Federal Government’s $1 trillion economy by 2030.

This was disclosed by the Acting Director-General of Pencom, Omolola Oloworaran, at the 2024 national conference of the Nigerian Association of Insurance and Pension Editors (NAIPE) with the theme: “Towards a $1 Trillion Economy: Roles of Insurance and Pension Sectors,” in Lagos.

The acting DG, who was represented at the occasion by Akinsola Adeseun, Zonal Head, South-West Zonal Office, stressed the need for stakeholders in the two sectors to come together and work hard to ensure the success of the government’s ambition, even as he commended NAIPE for the conference.

She also explained the critical roles insurance and pension sectors play in the growth of every economy.

“The insurance and pension sectors are veritable cornerstones in building a strong and resilient economy. Together, they provide financial security and stability for individuals, businesses, and the nation at large.

“Our collective goal of advancing towards a $1 trillion economy is not a mere aspiration but a shared responsibility. This conference serves as a vital platform to exchange insights, ideas, and strategies that will propel us toward achieving this ambitious target.

“Let me commend the organisers of this conference for bringing together pension and insurance industries experts, policymakers, and key stakeholders to engage in meaningful discussions that will foster innovation and collaboration. It is through such gatherings that we can identify opportunities, address challenges, and create synergies that will enhance the contributions of our sectors to economic growth.

“As we delve into discussions, let us be encouraged to not only envision a prosperous future but to also take actionable steps that will ensure sustainable development and long-term success.

“Together, let us strive to create an environment where the insurance and pension sectors can thrive, ultimately benefiting every Nigerian,” she said.

She reassured all stakeholders that PenCom remains committed to continuously improving service delivery across the pension industry.