Nigeria’s pension fund assets rose by N3.8tn in the first eight months of 2026, reaching a record N31.8tn as of August 31, up from N28.04tn at the beginning of the year.

The latest unaudited data from the National Pension Commission, obtained by Nairametrics, showed that assets under management grew by 13.41 per cent year-to-date.

The increase reflects the continued expansion of the contributory pension scheme despite prevailing macroeconomic challenges.

On a monthly basis, pension assets increased by N289.4bn, or 0.92 per cent, from N31.5tn recorded in July 2026.

The report also showed that the number of Retirement Savings Account contributors rose to 11,391,008 as of August 2026.

PenCom’s data showed that pension fund investments remained concentrated in Federal Government securities, which accounted for N17.80tn of total pension assets.

The asset class remained the largest component of pension portfolios, reflecting the significant exposure of pension funds to government-backed securities.

Domestic equities accounted for N6.32tn of pension assets, while investments in foreign equities stood at N280.66bn.

The industry also held N3.27tn in money market instruments, including fixed deposits, commercial papers, bank acceptances and other approved investments.

Corporate debt securities accounted for N2.21tn of the pension industry’s portfolio, while investments in mutual funds stood at N326.64bn.