President Bola Ahmed Tinubu is expected to launch two critical projects of the National Pension Commission (PenCom): PenCare and Minimum Pension Guarantee on November 10, 2026 to further enhance and expand the pension system in Nigeria.
Ms. Omolola Oloworaran, Director-General of PenCom, who made the disclosure at the National Pension Summit 2026, added that the President has also approved the first ever exit benefit for Federal Government treasury-funded MDA retirees, with the symbolic cheque presented at the Summit.
Oloworaran informed participants at the Summit that PenCom is also expecting additional three million funded active pension accounts by 2027.
She called on the private sector to join the Federal Government and the pension industry in funding the Pension Protection Fund, and charged operators in the industry to deliver competitive returns above the rate of inflation to retirees and stakeholders in the market.
The PenCom boss expressed satisfaction that pension assets have risen from N20.79 trillion in July 2024 to N31.8 trillion in August 2026.
According to her, “pension is not a privilege for the few. It is a right within reach of all.”
