Nigeria’s pension industry recorded its highest ever growth in April 2026, with total pension assets rising by N1.42 trillion to N30.94 trillion, a 4.8 per cent increase from N29.52 trillion recorded in March.
After the February 2026 record growth of N1.39 trillion, this is the next highest month-on-month growth ever recorded by the pension industry in Nigeria.
Data from the National Pension Commission’s (PenCom) unaudited Pension Fund Industry Portfolio Report for the period ended April 30, 2026, showed that the industry’s Asset Under Management (AUM) expanded on the back of strong performances across major Retirement Savings Account (RSA) funds, sustained gains in the equities market, and increased returns from fixed-income investments.
The report revealed that RSA Fund II, the largest pension fund category, accounted for the bulk of the growth, recording an increase of N764.9 billion during the month, from negative N72.81 billion in March. Fund III followed with a gain of N286.6 billion from N72.60 billion, while existing schemes contributed N87.4 billion. Fund V, which caters largely to micro-pension contributors, added N119.2 billion, while Fund VI grew by N52.1 billion.
A major driver of the industry’s expansion was the continued appreciation in domestic equities. Pension funds’ investment in quoted Nigerian stocks stood at N6.51 trillion at the end of April, benefiting from the positive momentum witnessed in the capital market during the period.
