The National Pension Commission (PenCom), pension operators and development partners under the aegis of the Pension Industry Leadership Council (PILC) have set a target of N300 billion and second quarter of 2027 for the first phase of financing development of infrastructure in Nigeria.
Ms. Omolola Oloworaran, the Director-General of PenCom stated at a media engagement in Lagos yesterday after the meeting of PILC that they currently have N241 billion in the kitty with expectation of reaching N250 billion in a matter of days. She said however that the ultimate target is N300 billion for the investment rollout process.
The DG, who is also the Chairman of PILC, stated that the infrastructure financing scheme tallies with one of the cardinal objectives of the pension sector to mobilise long-term capital for sustainable development of infrastructure in the country.
She added that the Memorandum of Understanding (MoU) with FSD Africa would be ready by the first quarter of 2027 while other development partners are also on the table.
The PenCom boss explained that the investment will generate independent global benchmark and elevate the pension sector in Nigeria to global standard.
On the benefits of the infrastructure investment by the pension sector, she listed the following:
- Generate higher returns for investors and a good hedge against inflation
- The infrastructure gap in Nigeria is very large but we have to start from somewhere
- To create employment
- To make impact on people
- To contribute to economic growth
On the Pension Transformation Agenda 2030, Oloworaran said the objective is to project where the pension industry wants to be in the future and impacting on the lives of ordinary Nigerians.
She announced that PenCom will organise Pension Week 2026 from October 26-30, 2026 to create more awareness about the industry and galvanise more participation and contribution by Nigerians.
