PenOP: Govt Must Unlock Pension Assets to Finance $1tn Economic Aspiration
• Ifeanyi-Okoro says pension funds can bridge long-term financing gaps in infrastructure, housing, energy
•Urges regulators, operators, government, private sector to deepen collaboration, unfreeze investment opportunities
James Emejo in Abuja
The Pension Fund Operators Association of Nigeria (PenOP), yesterday identified the country’s growing pension assets as a critical source of long-term domestic capital capable of financing infrastructure development and accelerating its ambition of building a $1 trillion economy by 20230.
Chief Executive of PenOP, Mrs. Anthonia Ifeanyi-Okoro, stated this at the 2026 Pension Correspondents Association of Nigeria (PenCAN) conference with the theme, “The Role of Regulator, Operators in Actualising Nigeria’s $1 Trillion Economy Target”, in Abuja.
She said the effective deployment of pension funds into infrastructure, housing, energy and other productive sectors could help address the country’s financing constraints, while stimulating economic expansion and preserving contributors’ retirement benefits.
Represented by the association’s Head of Branding and Communications, Olajumoke Akinwa, she pointed out that pension assets, now estimated at about N33 trillion, represented one of the country’s largest pools of long-term domestic capital that could be strategically mobilised to support the country’s economic transformation.
She stressed that achieving the $1 trillion economic target would require more than policy declarations, emphasising the need for deliberate capital formation, long-term investment and strong institutions capable of converting available financial resources into productive economic activities.
According to her, the pension industry is strategically positioned to support this ambition, given its capacity to mobilise substantial funds over extended investment horizons.
Ifeanyi-Okoro, “A $1 trillion economy is not an abstract ambition. It is a goal that demands deliberate capital formation, long-term investment, and strong institutions working in step.
“The pension industry is well placed to contribute. Pension assets now run into trillions of naira, making them one of the largest pools of long-term domestic capital in the country.”
However, she noted that unlocking the economic potential of pension funds must not come at the expense of the financial security of contributors, insisting that investment decisions must continue to prioritise prudence, safety and sustainable returns.
She maintained that the ability of pension funds to support national development would depend largely on striking the right balance between financing economic growth and protecting the retirement savings entrusted to pension operators.
On the respective responsibilities of the regulator and operators, the PenOP chief executive said both parties must strengthen their partnership to ensure that pension resources were efficiently managed and deployed within a credible regulatory environment.
She explained that while the regulator was responsible for providing the policy framework, supervision and safeguards necessary to sustain confidence in the pension system, operators must bring innovation, investment discipline and sound risk management to the management of contributors’ funds.
“Neither can succeed alone, and the strength of this partnership will shape how far we go,” she said.
Furthermore, Ifeanyi-Okoro pointed out that Nigeria’s $1 trillion economic ambition required a broader coalition of stakeholders, warning against placing the responsibility exclusively on regulators and pension fund operators.
She called for greater participation by government institutions, businesses, entrepreneurs, ministries, departments and agencies, as well as international development and investment partners.
According to her, the country must move beyond the traditional boundaries of the pension industry to build partnerships capable of expanding investment opportunities and creating an enabling environment for both domestic and international capital.
She said the scale of financing required to achieve the economic target made it imperative for public and private sector institutions to align their priorities and collectively address constraints limiting the flow of investment into productive sectors.
She added that the pension industry must deepen engagement with other economic players to identify viable opportunities through which its long-term capital could support sustainable growth.
The PenOP chief executive also urged participants at the conference to use the gathering to interrogate existing industry practices, identify shortcomings and develop practical recommendations that could strengthen the contribution of pension funds to national development.
She said the discussions should go beyond theoretical engagements to produce actionable outcomes and a shared commitment among stakeholders to reposition the industry for a more significant role in the economy.