Port Harcourt — The Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, has urged stakeholders in Nigeria’s pension industry to deploy the country’s over N23 trillion pension assets to power strategic national development, describing the sector as “a key engine for long-term economic growth.”
Speaking at the 2025 Pension Industry Leadership Retreat in Lagos, Edun said pension funds must begin to play a more central role in financing national priorities such as infrastructure, housing, energy, and digital inclusion; without compromising the safety and returns expected by retirees.
“With pension assets now exceeding N23 trillion, representing about 8.6% of our GDP, we must harness the transformative power of these funds to support sustainable growth. The focus should be on carefully structured, well-regulated, de-risked investment vehicles that offer both impact and financial security.”
The retreat, themed “Sustainable Retirement – Strategic Blueprint for Economic Development and Inclusion,” was convened by the National Pension Commission, PenCom and brought together leaders across finance, policy, and investment circles.
While commending PenCom for fostering dialogue on pension reform and innovation, the minister stressed that the Contributory Pension Scheme remains “one of Africa’s most successful long-term savings platforms.”
However, he noted that Nigeria still lags behind global benchmarks for pension coverage and penetration.
“Only a faster-growing economy can effectively reduce poverty. Our GDP expanded by 3.84% in Q1 2025, reserves are stronger, and the exchange rate is more stable. But to create real prosperity, we must grow at 7% or more annually. The national budget accounts for just 10% of GDP, pension funds and other institutional investors must now take centre stage.”
He reaffirmed the Tinubu administration’s commitment to building a resilient and inclusive financial system, urging stakeholders to adopt forward-looking investment strategies that support Nigeria’s long-term economic ambitions.
“The time is now. We have the tools, the talent, and the capital. What we need is the resolve to act.”
