The National Pension Commission (PenCom), pension operators and development partners under the aegis of the Pension Industry Leadership Council (PILC) have set a target of N300 billion for the first phase of infrastructure financing agenda scheduled for take-off in the seconf quarter of 2027 nationwide.
The Director-General of the commission, made this disclosure at a media chat on Thursday in Lagos after the meeting of PILC.
She said that the commission and its partners had generated N241 billion for the infrastructure financing plan with the expectation that the fund would increase to N250 billion soon, adding that the target is N300 billion for the investment rollout process.
Oloworaran, who is also the Chairman of PILC, explained that the infrastructure financing scheme aligned with one of the cardinal objectives of the pension sector, which is to mobilise long-term capital for sustainable development of infrastructure in the country.
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The PenCom boss, who confirmed that the Memorandum of Understanding (MoU) with FSD Africa would be ready by the first quarter of 2027 while other development partners were also being consulted, explained that the investment would generate independent global benchmark and elevate the pension sector in Nigeria to global standard.
Oloworaran listed some of the benefits of the infrastructure investment by the pension sector to the economy as including higher returns for investors and a good hedge against inflation, bridging on the huge infrastructure gap in the country, job creation, positive socioeconomic impact on the people and improved contribution of the sector to the nation’s Gross Domestic Product (GDP) value on a yearly basis.
Commenting on the Pension Transformation Agenda 2030, Oloworaran said the objective was to project where the pension industry would be in the future and how it would impact on the lives of ordinary Nigerians.
She hinted that in order to create more awareness about the performance of the pension industry and galvanise more participation and contribution of Nigerians to the industry, the commission would hold the Pension Week 2026 from October 26-30, this year.
