Nigeria’s pension industry marked another major milestone in January 2026 as total pension assets rose above N28 trillion, reflecting sustained growth driven largely by investment income and fresh contributions from workers.

Latest industry data released by the National Pension Commission (PenCom) showed that total pension assets increased by about N580 billion within one month, rising from N27.45 trillion recorded in December 2025 to N28.03 trillion in January 2026. The growth was about 2.2 per cent.

Analysis of the report indicated that Federal Government securities continued to dominate pension investments, accounting for the largest share of the portfolio.

Pension fund administrators committed about N16.6 trillion, roughly 60 per cent of the total assets, to Federal Government instruments considered risk-free.

Of this amount, investments in Federal Government bonds stood at N15.6 trillion, while treasury bills accounted for about N894 billion.

Other asset classes also attracted significant allocations. Corporate debt securities accounted for about N2.23 trillion of pension assets, while money market instruments attracted an estimated N2.75 trillion in investments.

Industry sources attributed the steady expansion of pension assets to a combination of investment incomes, new contributions to the scheme, interest from fixed-income securities and realised gains from equity and mutual fund investments.

The growth comes despite persistent concerns over delays by some state governments in remitting pension contributions of their workers.

Meanwhile, the number of contributors to the Contributory Pension Scheme (CPS) also increased noticeably during the period. The retirement savings account (RSA) holders rose to 11.08 million in January 2026, up from 11.04 million recorded in December 2025.