Pension industry targets N300bn infrastructure commitment, investments to begin Q2 2027 — PenCom DG
DG, PenCom, Omolola Oloworaran
Nike Popoola
The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, has disclosed that pension funds have committed a total of N241 billion to infrastructure investment through the Pension Industry Infrastructure Consortium, with the amount expected to rise to almost N300 billion as additional commitments are received.
Oloworaran made this known on Thursday at a press conference, where she outlined key outcomes and initiatives of the pension industry, including infrastructure financing, global benchmarking, Pension Week and the Pension Transformation Agenda 2030.
According to her, the Pension Industry Infrastructure Consortium was established by the Pension Industry Leadership Council (PILC) in collaboration with FSD Africa to mobilise capital within the pension industry for infrastructure development in Nigeria.
She said the industry expects actual investments in infrastructure projects to commence by the second quarter of 2027, in line with the timetable being developed for the initiative.
“As part of that initiative, pension funds have, as of today, committed a total of N241 billion, and we expect that to touch almost N300 billion very soon, as soon as we get all the commitments in,” she said.
The PenCom DG described the infrastructure initiative as the first step being taken by the pension industry to mobilise capital for infrastructure development, adding that the sector remains committed to investing in infrastructure as part of its long-term investment strategy.
“So, I thought that was significant. In the scheme of things, it’s the first step we are taking as an industry, and this is just the beginning,” Oloworaran said.
She explained that infrastructure investments align with the long-term investment interests of pension funds and could provide a hedge against inflation.
“Because this is a sector we are committed to, that’s the infrastructure bit, ensuring that we mobilise capital within the pension industry to deepen infrastructure in the country, and the investments are what pension funds actually are interested in because largely they are long-term investments. They also provide an edge against inflation for us,” she stated.
PenCom Approves Global Benchmarking Assessment
Oloworaran also disclosed that the pension industry had approved an independent global benchmark maturity assessment aimed at elevating the sector to global standards and ensuring adherence to best practices.
She said the exercise would assess the industry’s maturity against global benchmarks and is expected to be concluded soon.
“We think it’s something we need to do in order to elevate the industry to global standards and to ensure that we operate within best practice across board,” she said.
Pension Week Scheduled for October 26–30
The PenCom DG further announced that Pension Week would take place from October 26 to 30, 2026, with additional details expected to be released within the next two weeks. She said an engagement involving the President was also being planned.
Industry Develops Pension Transformation Agenda 2030
Oloworaran also announced that the pension industry was working on Pensions 2030, described as the Pension Industry Transformation Agenda, or Pension Transformation Agenda 2030.
According to her, the initiative is intended to formalise the work already being undertaken across the industry while establishing a forward-looking vision for the sector through 2030.
She said discussions at the meeting focused not only on ongoing industry activities but also on the desired future direction of the pension industry and its impact on Nigerians.
“Just to articulate and formalise all the initiatives we’ve been working on as an industry, and in addition to that, also be forward-thinking where we want this industry to be by 2030,” she said.
Oloworaran added that the transformation agenda would focus on the impact the industry seeks to make in the lives of ordinary Nigerians.
She identified the infrastructure investment initiative, global benchmark maturity assessment, Pension Week and the Pension Transformation Agenda 2030 as major issues discussed during the industry meeting.
