Private sector drives surge in pension contributions
Total pension contributions have seen significant growth, with the private sector leading the way. According to the National Pension Commission, contributions reached N1.318tn in the first three quarters of 2025. The private sector outpaced the public sector in remittances, especially in the third quarter. The Pension Fund Operators Association of Nigeria highlighted the increased compliance and broader coverage fueling this growth.
TLDR
- Pension contributions hit N1.318tn in the first three quarters of 2025, nearing the N1.368tn total for 2024.
- Private sector contributions totaled N744.36bn, surpassing the public sector’s N574.42bn during this period.
- In Q3 2025, total remittances reached N503.19bn, with the private sector accounting for N338.65bn.
- Public sector remittances declined by 26.5% from N223.95bn in Q2 to N164.54bn in Q3, while private sector contributions rose by 67.3%.
- Pension fund assets increased to N26.66tn as of 31 October 2025, reinforcing the sector’s financial strength.
