November 18, 2021/Coronation Research

According to data from Nigeria’s National Pension Commission (PENCOM) September 2021 report, the pension industry’s assets under management (AUM) rose by 0.8% m/m and 12.4% y/y to N13.0trn (USD53.9bn) as at end-September.

Pension fund assets were mainly invested in FGN debt securities (FGN bonds, NTBs, agency bonds, sukuk, green bonds), which accounted for 63.2% of the total AUM, compared with 65.3% recorded in the corresponding period of 2020. As at end-September, total FGN debt securities held by Pension Fund Administrators (PFAs) declined by -0.8% m/m but increased 8.9% y/y to N8.2trn.  

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