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Business
September 15, 2025 by Omobola Tolu-Kusimo
PenCom
Younger Nigerians constitute over 82 per cent of new enrollees in the Contributory Pension Scheme (CPS) in the first quarter 2025.
At the same time, the pension industry’s Net Asset Value (NAV) grew by N816 billion, representing a 3.63 per cent increase from N22.51 trillion in fourth quarter 2024 to N23.33 trillion at the end of March 2025.
Director-General, National Pension Commission (PenCom), Ms Omolola Oloworaran made this known in the commission’s first quarter 2025 report.
According to her, the total number of Retirement Savings Accounts (RSAs) increased from 10.58 million in fourth quarter 2024 to 10.69 million in first quarter 2025, reflecting the registration of 105,993 new RSAs during the period.
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She attributed the growth to largely rising pension awareness among younger Nigerians, whom she said constituted over 82 percent of new enrollees, alongside sustained stakeholder sensitisation efforts and strengthened regulatory enforcement.
She also said the growth in net asset value was driven by regular contribution inflows, gains in the equities market, and improved yields from fixed-income investments.
On expansion of the Micro Pension Plan, Oloworaran disclosed that the plan recorded measurable progress during the quarter, with 13,889 new contributors registered by 15 pension fund administrators (PFAs), bringing the cumulative number of micro pension contributors (MPCs) to 186,825.
Total contributions under the MPP, she said stood at N111.27 million, while contingent withdrawals of N4.73 million were processed for 17 contributors.
She further stated that in first quarter 2025, total pension contributions stood at N389.17 billion, comprising N185.93 billion or 52.22 per cent from the public sector and N203.24 billion or 47.78 per cent from the private sector.
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