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As at 30 September 2025, the Nigeria pension industry’s Net Asset Value (NAV) rose by 5.93% (₦1.46 trillion) to ₦26.09 trillion, up from ₦24.63 trillion recorded on 30 June 2025.
This growth was driven primarily by favourable returns on investments, particularly appreciation in the prices of equities during the period.
Notably, the top three fastest-growing asset classes were Foreign Money Market Securities (+111.76%), Cash & Other Assets (+74.26%), and Mutual Funds (+19.13%).
These gains indicate proactive liquidity management and rising exposure to foreign and collective investment instruments.
Investments in the Foreign Money Market instruments are usually done by the Closed Pension Fund Administrators or CPFA’s.
Pension schemes in the private sector existing prior to the introduction of the Contributory Pension Scheme (CPS) in June 2004 were allowed to continue as CPFAs.
The CPFAs operate as defined benefit schemes. Closed Pension Fund Administrators operating include: Nestle Nigeria CPFA, Progress Trust CPFA, Shell Nigeria Closed Pension Fund and TotalEnergies EP Nigeria CPFA Limited.
Investment by the CPFAs in foreign Money Market instruments rose by 111.76% to N109.996 billion as at September 2025, from N51.944 billion as at June 2025.
Sources tell MoneyCentral the CPFAs flush with dollars usually purchase US Treasuries or invest in dollar denominated bank deposits that pay yields.
The value of pension fund assets under the Closed Pension Fund Administrators (CPFA) increased by 2.73% to ₦2.71 trillion as at 30 September 2025, compared to ₦2.63 trillion recorded at the end of the previous quarter.
The growth was mainly driven by higher market valuations, improved investment returns, and moderate new inflows during the period.
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