Nigeria’s pension regulator raised equity caps for RSA funds in February 2026, creating headroom for up to N2.18 trillion in new stock-market inflows.
PenCom raised RSA equity caps, targeting N2.18 trillion into Nigerian equities to reduce currency-dependence. The reform exemplifies how African governments convert pension savings into productive domestic assets—a geopolitical shift in capital formation.
Africa · Western
Key Facts
—The rule change. PenCom raised equity caps for RSA Funds I, II, III and VI-Active on 9 February 2026, effective immediately.
—New limits. Fund I rose from 30% to 35%, Fund II and Fund VI-Active from 25% to 33%, and Fund III from 10% to 15%.
—Potential inflows. Analyst estimates range from N989.5 billion ($645 million) in a base case to N2.18 trillion ($1.42 billion) in a best-case scenario.
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