Operators move to invest N8trn pension assets on infrastructure

Pension operators have advocated that the Federal Government invest the over N8.33trillion pension assets into viable infrastructure projects.

The pension operators have also said they want such investments to be well-structured and creditworthy.

The President, Pension Fund Operators Association of Nigeria (PenOp) Mrs. Aderonke Adedeji, said at a retreat for legislators in Calabar, that for the first time Nigeria can now boast of a long-term funding base and the impact has included the funding of the government and government projects, development of the capital market as well as increased foreign development inflows. She noted that the Industry has no objections to funding infrastructure as there were benefits to doing so.

The President, however, noted that it must be understood that such investments must be in well-structured and creditworthy instruments.

The Acting Director-General, PenCom Mrs. Aisha Dahiru-Umar represented by Mr. Yola M. Dati explained that as at August this year, the Pension Industry membership has grown to 8.31 million participants while the size of the Pension Fund Assets stood at N833 trillion.

Credit: Daily Trust