“The Nigerian pension industry has matured; it’s time for visible socio-economic dividends.”
Christopher Bajowa, PenOp President
The president of the association, Christopher Bajowa has called on the Nigerian pension industry to shift from structural consolidation to delivering tangible economic value, describing the sector as “mature and ready” for broader national impact.
Bajowa made this remark in a post-event reflection following the 2025 Pension Industry Leadership Retreat, jointly organised by PenOp and the National Pension Commission (PenCom), held at the Lagos Continental Hotel, Victoria Island
“The Nigerian pension sector has matured. Now is the time to translate that maturity into visible socio-economic dividends,” Odutola stated.
₦23 Trillion Sector Seeks New Purpose
The Nigerian pension industry, now managing over ₦23 trillion in assets, has long been commended for its regulatory compliance, structural growth, and asset security. However, Odutola stressed that the time had come to go beyond accumulation and catalyze economic inclusion and development.
“We must move from a mindset of protection alone to one of purposeful deployment,” he said. “The industry must be intentional about supporting sectors like infrastructure, housing, and innovation—without compromising contributors’ safety.”
A Strategic Shift in Focus
Themed “Sustainable Retirement – Strategic Blueprint for Economic Development and Inclusion,” the three-day retreat brought together senior regulators, pension fund administrators, economists, and development partners to realign the industry’s strategic vision.
Highlights of the retreat included discussions on:
- Unlocking pension capital for infrastructure and housing projects
- Expansion of the Micro Pension Plan (MPP) to reach informal workers
- Greater emphasis on Environmental, Social and Governance (ESG) investment standards
- Adoption of digital tools for transparency and access
- Enhancing gender and youth inclusion in retirement planning
Public-Private Collaboration Urged
Bajowa used the retreat to reiterate the need for regulatory flexibility that balances security with innovation. According to him, collaboration between the public and private sectors is crucial to unlocking the full potential of pension funds for national development.
“This is not just about investing—it’s about shaping the Nigerian economy through responsible capital,” he said.
PenCom’s Strategic Blueprint
The National Pension Commission (PenCom) used the platform to unveil its Strategic Blueprint, with clear goals aimed at expanding pension coverage, supporting job creation, and positioning pension assets as a vehicle for long-term development.
The blueprint includes:
- Expanding contributor base to over 1 million informal sector workers by 2027
- Introducing new ESG guidelines for PFAs
- Building secure pathways for pension fund participation in nation-building projects
At the close of the event, participants signed a Leadership Charter, pledging to pursue impact-focused outcomes and enhanced governance over the next 24 months.
A Defining Moment for the Industry
With momentum now behind a more impact-driven agenda, Bajowa concluded that the sector’s next phase must be measured not only in assets managed, but in the lives improved and sectors revitalized.
“We are no longer on the sidelines. The pension industry must become a core driver of sustainable economic growth, national development, and retirement security,” he said.
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