PenCom, NURTW Target 9 Million Transport Workers in Pension Inclusion Drive

The National Pension Commission (PenCom) is in advanced discussions with the National Union of Road Transport Workers (NURTW) on a landmark initiative that could bring an estimated nine million transport workers into Nigeria’s formal pension system through the Personal Pension Plan (PPP) under the Contributory Pension Scheme (CPS).
The proposed partnership was unveiled during a high-level courtesy visit by the National President of the NURTW, Alhaji Musiliu Akinsanya (popularly known as MC Oluomo), to the Director General of PenCom, Ms. Omolola Oloworaran, at the Commission’s headquarters in Abuja.
The meeting, which had senior officials from both organisations in attendance, focused on deepening pension inclusion within Nigeria’s vast informal transport sector while also exploring innovative financing structures to modernise mass transit operations across the country.
A Bold Drive into the Informal Sector
At the centre of the discussions is a sweeping proposal by the NURTW to integrate millions of transport workers—spanning interstate drivers, park operators, logistics handlers and urban transport operators—into the Personal Pension Plan.
The union estimates its nationwide membership at about nine million workers, making it one of the largest untapped segments for pension inclusion in Nigeria’s informal economy.
The NURTW leadership outlined a three-pronged framework for the initiative. This includes mass enrolment of members into the PPP, the introduction of a digitalised daily pension contribution system linked to transport revenue collection platforms, and the creation of a National Transport Workers Mobility Enhancement Programme.
The programme is designed not only to expand pension coverage but also to improve access to modern transport infrastructure through structured financing models.
Daily Contributions and Vehicle Financing Model
A key innovation in the proposal is an automated micro-contribution system that allows transport workers to contribute to their pension accounts daily, directly from earnings collected at motor parks and transport terminals.
Under the proposed model, existing union structures would serve as aggregation points, channeling daily inflows into both pension accounts and structured repayment plans for vehicle financing.
The financing component is expected to involve development finance institutions, commercial banks and other financial stakeholders, enabling transport operators to access buses and other mobility assets under structured credit arrangements.
According to the proposal, the integrated model is designed to reduce loan default risks, improve repayment discipline, and encourage long-term savings culture among informal sector workers who have historically been excluded from retirement savings systems.
PenCom Reacts: “A Transformational Opportunity”
Responding to the proposal, PenCom Director General, Ms. Omolola Oloworaran, described the initiative as a bold and potentially transformational step toward expanding pension coverage in Nigeria.
She commended the NURTW leadership for bringing forward an innovative framework that links social protection with economic empowerment, particularly within the informal sector, which accounts for a significant portion of Nigeria’s workforce.
According to her, PenCom is fully committed to working with the union and other relevant stakeholders to explore practical pathways for implementation.
She stressed that expanding pension inclusion remains a core priority of the Commission, noting that initiatives like this align strongly with ongoing reforms aimed at strengthening financial inclusion, improving retirement security, and expanding the reach of the Contributory Pension Scheme.
Alignment with National Development Goals
Ms. Oloworaran further noted that the proposed partnership aligns with the Federal Government’s Renewed Hope Agenda, particularly in the areas of social protection, poverty reduction, financial inclusion, economic empowerment, and transport sector modernisation.
She described the engagement as one of the most ambitious pension inclusion efforts targeting the informal sector in recent years, adding that its successful execution could significantly expand Nigeria’s pension contributor base.
If implemented effectively, the initiative could also improve retirement outcomes for millions of transport workers while providing a more structured framework for financing and modernising Nigeria’s transport infrastructure.
Toward a National Flagship Programme
Both PenCom and the NURTW expressed optimism that the collaboration could evolve into a national flagship programme with wide-ranging socio-economic impact.
Stakeholders believe the model, if successfully deployed, could redefine pension participation in Nigeria’s informal economy while simultaneously addressing long-standing challenges around transport financing and workforce welfare.
The partnership is expected to undergo further technical engagement and stakeholder consultations in the coming months as both institutions work toward a viable implementation framework.
PenCom and NURTW are in talks to enrol about 9 million transport workers into Nigeria’s Personal Pension Plan under the Contributory Pension Scheme, in a landmark initiative aimed at expanding pension coverage and modernising transport financing.