Nigeria’s pension fund assets climbed to N23.32 trillion in March 2025, reflecting a slight 0.27% uptick from the N23.26 trillion recorded in February.
The latest figures, published in the National Pension Commission’s (PenCom) monthly report and obtained by Naijaonpoint, underscore the industry’s sustained stability.
The marginal increase is largely driven by strategic asset allocation and a diversified investment approach, reinforcing the fund’s long-term growth trajectory.
Federal Government securities continue to dominate the investment landscape, accounting for N14.48 trillion, or 62.09% of the total assets under management (AUM). Other major allocations include:
Notable rebounds were observed in mutual funds, which surged 81.75% to N154.95 billion, up from N84.76 billion in February.
Other key movements in March:
On the downside, Treasury Bills fell 15.12% to N593.21 billion, while Foreign Money Market Instruments recorded a 37.26% drop to N64.18 billion. Agency Bonds slipped 9.04% to N7.41 billion, and Sukuk Bonds retreated 5.85% to N89.24 billion.
Fund II remains the dominant RSA fund under the Multi-Fund Structure, holding the largest share of active RSA allocations at N9.65 trillion, which represents 41.39% of the total assets under management (AUM).
Fund III maintained its position as the second-largest fund, posting a 0.51% increase from N6.05 trillion to N6.09 trillion in March 2025.
Meanwhile, Retirement Savings Account (RSA) membership saw a 0.36% uptick, reaching 10,689,846 in March, up from 10,650,990 recorded in February.
Nigeria’s pension fund assets surged 18.06% year-on-year, climbing from N19.75 trillion in March 2024 to N23.32 trillion in March 2025.
The growth is primarily fueled by higher pension contributions and a rise in investment values, particularly FGN Securities, which saw its total assets under management (AUM) jump 18.72%, from N12.20 trillion to N14.48 trillion within the same period.
Nigeria’s pension fund assets have continued to show strong growth in Naira terms over the past three years, despite currency depreciation affecting their value in U.S. dollars.
This trajectory highlights the robust domestic growth of Nigeria’s pension industry, even as exchange rate pressures influence its valuation in foreign currency terms. The consistent increase in Naira-denominated assets reflects rising pension contributions and investment gains, particularly in FGN Securities, which grew by 18.72% in value year-on-year.