Nigeria’s pension fund value increased to N19.79 trillion in April after declining by 0.47 percent in March.
The National Pension Commission data shows that it increased by 0.60 per cent, according to The Punch.
The value of the pension funds as of February stood at N19.76tn.
In a similar vein, the number of members in the Retirement Savings Account increased to 10,315,034 from 10,280,956 in March, indicating a monthly gain of almost 0.33 percent.
As of the end of April, the pension funds were valued at $14.88 billion in US dollars, or N1,329.71/$.
The amount was $14.79 billion in March at a currency rate of N1,544.08 to the dollar.
According to analysis, the slight fall in Nigeria’s pension funds in March was the first documented in eighteen months.
Analysts attributed the March decrease to pension fund operators adjusting their portfolios.
The Chief Operating Officer of Investdata Consulting Limited, Ambrose Mordion attributed the decline to PFA portfolio rebalancing actions brought on by the shift in the interest rate landscape in February and March.
Omordion said, “The decline observed in the pension fund can be traced to the portfolio rebalancing of PFAs. It should stabilise into the future.”
Meanwhile, in a resolution from the two-day retreat for federal lawmakers organised by pension fund operators in Lagos; Members of the House Committee on Pensions and the Senate Committee on Establishment and Public Service have reached a consensus to collaborate to address issues facing the pension sector.
