Nigeria’s pension assets rose by about 20% in 2025, reflecting steady growth driven largely by gains in domestic equities, Federal Government securities, and selected alternative assets.
The figures are based on pension asset allocation data for January to December 2025.
Total pension assets expanded from N22.86 trillion in January 2025 to N27.45 trillion by December, representing a year-to-date increase of 20.08%, while most asset classes recorded year-to-date increases, the data also shows signs of cautious rebalancing toward year-end as pension funds responded to mixed market conditions.
On a month-on-month basis, assets grew marginally by 1.48% in December from N27.05 trillion in November, pointing to a more defensive posture late in the year.
Pension assets recorded broad-based growth in 2025, with equities and government securities anchoring portfolio expansion. The year also saw faster growth in smaller asset classes such as mutual funds and infrastructure investments, even as some segments experienced volatility.
Overall, the data points to steady accumulation alongside tactical adjustments as pension fund managers balanced growth opportunities with risk management.
Equities were one of the strongest contributors to pension asset growth in 2025, supported mainly by domestic stock market performance. Total equity investments increased from N14.31 trillion in January to N16.33 trillion in December, representing a 14.15% year-to-date rise.
The performance highlights the growing role of domestic capital markets in driving pension fund returns.
Federal Government securities remained the backbone of pension portfolios throughout 2025, maintaining the largest share of total assets. Total FGN securities rose from N14.31 trillion in January to N16.33 trillion in December.
Despite gradual diversification, government securities continued to play a stabilizing role in pension portfolios.
Growth in pension assets was not evenly distributed across fund categories, with active RSA funds accounting for most of the expansion in 2025.
With total pension assets now firmly above N27 trillion, the industry enters 2026 focused on managing volatility, sustaining real returns, and gradually increasing exposure to productive sectors of the economy.