News
Pension cash floods infrastructure as assets triple
Nigerian pension fund managers have tripled their exposure to infrastructure over the past five years, driven by better project structuring, rising returns, and a more supportive regulatory environment.
Investments in infrastructure funds surged 218 percent in the five years through 2020, hitting N207.58 billion in February 2025, data from the National Pension Commission shows. That’s a 37.6 percent increase this year alone.
Although the amount may pale in comparison to total assets of N23 trillion, pension funds can only invest 5 percent of their assets in infrastructure funds.
Nigeria remains one of five countries globally to still have a limit on infrastructure investments. In all other countries, the infrastructure investment allocation is unconstrained.
The trend points to rising confidence in infrastructure as a hedge against inflation and a source of stable, long-term returns amid market volatility. Analysts at the Pension Fund Operators Association of Nigeria (PenOp) noted that allocations have grown steadily—from N65.19 billion in 2021 to N207.58 billion in 2025.
“This reflects growing confidence in infrastructure as a long-term asset class,” said Agudah Oguche, chief executive officer at PenOp. “These investments not only diversify pension portfolios but also contribute meaningfully to national development.”
PFAs increased infrastructure fund allocations to N75.02 billion in 2022, N113.49 billion in 2023, and N150.84 billion by end-2024. During this period, several key infrastructure funds attracted sizable inflows, including the Nigeria Infrastructure Debt Fund (NIDF), which backed projects in power, roads, and transport.
InfraCredit-backed initiatives also gained traction, allowing PFAs to invest in clean energy, logistics, and student housing with enhanced risk mitigation. The Fund for Agricultural Finance in Nigeria (FAFIN) supported rural infrastructure through agri-finance, while Nigerian Real Estate Investment Trusts (NREITs) gave PFAs exposure to affordable housing.
“As pension funds channel more investments into infrastructure bonds, real estate developers will leverage the improved accessibility and services to offer better real estate solutions,” said John Edumoh, CEO of Manroe Realty. “Infrastructure investments fuel improvements in roads, bridges, and utilities, and the real estate market can expect a surge in value with enhanced access to previously underserved areas.”
By February 2025, pension assets climbed further to N23.3 trillion, up from N22.86 trillion a month earlier—an additional N399.5 billion. Of that, N14.5 trillion sits in federal government securities, led by N12.3 trillion in FGN bonds.
Domestic equities took up N2.6 trillion, while money market instruments accounted for N2.2 trillion. Federal Government Securities made up 63 percent of total assets, with the breakdown as follows: FGN Bonds (60.11 percent), Treasury Bills (2.33 percent), and Agency, Sukuk, and Green Bonds (0.55 percent).
Investments in domestic quoted equities stood at N2.05 trillion, or 9.61 percent of total assets—a net increase of N86.52 billion compared to N1.97 trillion in June 2024.
While the proportion remained stable, the rise was buoyed by improved stock valuations. The Nigerian Stock Exchange Pension Index (NSE-PI) appreciated by 6.66 percent in Q3 2024, reversing a 4.37 percent drop in the previous quarter.
President Bola Ahmed Tinubu has approved the sum of One Hundred And Ten Billion Naira (N110bn) to be shared to 18 universities. The move according to pundits is to boost medical education following the recent ‘japa’ trend of doctors and other health workers.
Each university will receive about N4 billion, including N750 million for hostel construction, to support eight simulation labs across the zones and increase enrolment in medical sciences.
The 18 universities benefiting from the N110bn grant are:
1. Nnamdi Azikiwe University
2. Bayelsa State University
3. University of Lagos
4. Ahmadu Bello University
5. University of Benin
6. Imo State University
7. University of Ibadan
8. University of Medical Sciences, Ondo
9. Benue State University
10. Umaru Musa Yaradua University
11. University of Nigeria
12. University of Calabar
13. Abubakar Tafawa Balewa University
14. University of Jos
15. University of Ilorin
16. Gombe State University
17. Usmanu Danfodio University
18. University of Maiduguri
This initiative is designed to improve infrastructure in medical schools through the rehabilitation of lecture theatres and laboratory facilities, thereby enhancing capacity to take in and produce more doctors, nurses, dentists, and pharmacists for the nation.
The Corporate Affairs Commission (CAC) has issued a six-week notice to unregistered businesses to register with the Commission.
This was disclosed in a statement issued by the CAC on Tuesday, titled: “PUBLIC NOTICE: CARRYING ON BUSINESS IN NIGERIA UNDER AN UNREGISTERED NAME OR ACRONYM.”
In the statement, the CAC said failure to comply with the notice will attract a jail term or prosecution.
The commission informed the general public that it is a criminal offence under Section 863 of the Companies and Allied Matters Act, 2020, to carry on business in Nigeria as a company, limited liability partnership, limited partnership, or under a business name without registration. It is also an offence to operate under a name (or acronym) other than the one registered under the Act.
The public was further advised that Section 729 of the Act requires every registered company to display its registered name and registration number at every business location.
“In addition, the company is required to state its registered name and registration number on all its official publications, including letterheads, signage, marketing, and publicity materials,” the statement added.
The CAC emphasised that non-compliance with business registration requirements may result in prosecution and a conviction that carries a penalty of up to two years’ imprisonment.
The statement continued: “In particular, the general public should note the provisions of Section 862 (1) of the Act, which state that any person who, in any document required under the Act (including the aforementioned official publications of a company), knowingly makes a false statement in any material respect commits an offence and is liable on conviction to imprisonment for a term of two years, in addition to a daily fine imposed on the company for every day the offence continues.”
In light of the above, the CAC stressed that all companies, limited liability partnerships, limited partnerships, and business name proprietors must comply with the provisions of the Act within six weeks of this notice.
Failure to comply will result in enforcement actions, including prosecution, the CAC stressed.
The Federal Government has declared Thursday, May 1, 2025, as a public holiday in commemoration of Workers’ Day.
This was announced in a press statement signed by the Permanent Secretary, Ministry of Interior, Aishetu Ndayako, on Tuesday.
According to the statement, the Minister of Interior, Olubunmi Tunji-Ojo, conveyed the declaration, emphasising the importance of excellence, efficiency, and fairness in labour.
Tunji-Ojo reiterated President Bola Tinubu’s administration’s dedication to fostering innovation, productivity, and inclusivity in workplaces.
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