Pension Chiefs Meet in Abuja to Plan Path to $1tr Economy
By Patience Ikpeme
Leaders of Nigeria’s pension industry will gather in Abuja on Wednesday, November 11, to discuss how retirement savings can help the country reach its goal of a $1 trillion economy.
The meeting is the 2026 conference of the Pension Correspondents Association of Nigeria (PenCAN). The association’s President, Hajiya Nana Musa, announced the plan in a statement issued in Abuja on Monday.
The conference will run under the theme “The Role of Pension Regulator, Operators in Actualising $1trn Economy Target.” Policymakers, investors, development partners, pension professionals and government officials are expected to discuss how the industry can drive economic growth.
Among those expected are the Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, and the Chief Executive Officer of the Pension Fund Operators Association of Nigeria, Anthonia Ifeanyi-Okoro. The Executive Secretary of the Pension Transitional Arrangement Directorate, Tolulope Odunaiya, will also attend.
The growth of pension money in the country will feature in the talks. Total pension assets rose from ₦20.79 trillion in July 2024 to ₦31.8 trillion in August 2026. Participants will also look at the Federal Government’s approval of an exit benefit for retirees from federal ministries, departments and agencies that are funded from the treasury.
Other issues on the agenda include a plan to add three million funded active accounts within one year and the launch of PenCare. Participants will also discuss the Minimum Pension Guarantee and proposals for private-sector employers and workers to contribute to the Pension Protection Fund.
The organisers said the event will also consider how pension funds can earn returns that beat inflation, so that the savings of workers keep their value.
According to PenCAN, the conference comes at a time of reforms meant to make retirement more secure, make the system more open and bring more Nigerians into the Contributory Pension Scheme. The association holds the event every year to encourage informed discussion and help the public understand developments in the pension industry.
