Pension Assets Hit ₦26.66trn In October 2025 — PenCom

Nigeria’s pension assets rose to ₦26.66 trillion in October 2025, representing a 2.19% month-on-month increase from ₦26.09 trillion recorded in September, and a strong 21.63% surge year-on-year.

Data released by the National Pension Commission (PenCom) showed that money market allocation recorded one of the strongest movements in October, rising from ₦2.42 trillion to ₦ N2.88 trillion—an 18.85% MoM increase.

The category now accounts for 10.80% of total pension assets.

Corporate bonds dipped from ₦2.24 trillion in September to ₦2.16 trillion in October, contributing 8.11% to the total assets.

The decline was broad-based:

FGN instruments remain the backbone of Nigeria’s pension portfolio, expanding marginally by 1.35% MoM to ₦15.96 trillion. These securities now account for 59.86% of total pension assets.

Key movements within FGN Securities are:

Domestic equities grew 5.01%, increasing to ₦3.84 trillion, and accounting for 14.42% of total assets. This is supported by bargain-hunting as investors priced in potential year-end rallies.

Foreign equity exposure, on the other hand, fell 6.45%, echoing valuation pressures and conservative FX repositioning.

Total allocation to equities (domestic + foreign) represents about 15.39% of total pension assets.

The alternatives segment delivered mixed outcomes:

Mutual funds advanced 1.32% to ₦221.88 billion, buoyed by moderate growth of 2.22% and 0.21% in open/closed-ended funds and Real Estate Investment Trusts (REITs), respectively.

Cash & other assets declined sharply by 16.79% from ₦518.95 billion to ₦ N431.84 billion in October, reallocating into higher-yielding money-market and government securities.

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Retirement Savings Account (RSA) enrollments grew from 10.93 million in September to 10.97 million in October, a 0.39% increase.

Across the RSA structure, the distribution remained consistent with historical trends, as Fund II remains the largest and most actively managed segment of the industry: