Status of Contributory Pension Assets as at 28 February 2026
Nigeria’s Pension Assets Surge to ₦29.43 Trillion in February 2026 – Strongest Monthly Growth in CPS History
Nigeria’s Contributory Pension Scheme (CPS) recorded a remarkable jump in Assets Under Management (AUM) as total pension fund assets rose to ₦29.43 trillion as at 28 February 2026, compared to ₦27.45 trillion as at 31 December 2025.This represents an increase of ₦1.97 trillion or 7.2% growth in just two months.
February 2026 stands out as one of the most exceptional months in the history of Nigeria’s pension industry. Industry data shows that pension assets increased by ₦1.39 trillion month-on-month in February alone, the largest monthly increase ever recorded in the Nigerian pension industry.
This was driven by a combination of:
- Strong market appreciation in domestic equities
- Positive valuation gains across fixed income securities
- Continued inflow of pension contributions
- Broad rally in Nigerian financial markets
The Nigerian equities market delivered an extraordinary performance in February 2026, with the NGX All Share Index gaining 16.6% during the month, reaching an all-time high and significantly boosting pension fund equity valuations.
Breakdown of Pension Asset Growth (Dec 2025 vs Feb 2026)
| S/N | Asset Class | Amount (₦’ Million) 31 Dec 2025 |
Weight (%) | Amount (₦’ Million) 28 Feb 2026 |
Weight (%) | % Increase Dec 25 to Feb 26 |
Amount Increase (₦’ Million) |
|---|---|---|---|---|---|---|---|
| 1 | Total FGN Securities | 16,334,385.62 | 59.50% | 16,925,013.00 | 57.52% | 3.62% | 590,627.38 |
| 2 | Domestic Ordinary Shares | 3,955,121.84 | 14.41% | 5,409,550.35 | 18.38% | 36.77% | 1,454,428.51 |
| 3 | Money Market Instruments | 2,623,172.20 | 9.56% | 2,744,679.10 | 9.33% | 4.63% | 121,506.90 |
| 4 | Corporate Debt Securities | 2,204,523.54 | 8.03% | 2,251,162.18 | 7.65% | 2.12% | 46,638.64 |
| 5 | Cash & Other Assets | 746,967.16 | 2.72% | 448,953.28 | 1.53% | -39.90% | -298,013.88 |
| 6 | State Govt Securities | 370,482.23 | 1.35% | 368,990.47 | 1.25% | -0.40% | -1,491.76 |
| 7 | Infrastructure Funds | 282,142.09 | 1.03% | 300,018.82 | 1.02% | 6.34% | 17,876.73 |
| 8 | Foreign Ordinary Shares | 263,936.34 | 0.96% | 261,985.83 | 0.89% | -0.74% | -1,950.51 |
| 9 | Private Equities | 238,526.34 | 0.87% | 258,310.71 | 0.88% | 8.29% | 19,784.37 |
| 10 | Mutual Funds | 231,187.88 | 0.84% | 254,965.71 | 0.87% | 10.29% | 23,777.83 |
| 11 | Real Estate | 170,758.18 | 0.62% | 169,519.17 | 0.58% | -0.73% | -1,239.01 |
| 12 | Supra-National Bonds | 30,575.27 | 0.11% | 33,152.72 | 0.11% | 8.43% | 2,577.45 |
| Total | 27,451,778.69 | 100.00% | 29,426,301.34 | 100.00% | 7.19% | 1,974,522.65 | |
Key Insights and Implications
- Pension Industry nearing ₦30 Trillion Milestone
With AUM at ₦29.43 trillion, the Nigerian pension industry is on track to cross the ₦30 trillion mark in the coming months, a significant psychological and economic milestone.
- Equity Allocation Proving Valuable
The February market rally validates the gradual diversification strategy adopted by PFAs, as domestic equity holdings delivered outsized returns and materially lifted overall portfolio value.
- Fixed Income Still Dominates
Despite the surge in equities, over half of pension assets remain invested in Federal Government securities.
- Stronger Retirement Outcomes for Contributors
Sustained investment gains improve Retirement Savings Account (RSA) balances, supporting better retirement outcomes for contributors.
Conclusion
The Nigerian pension industry delivered a historic performance in February 2026, with total AUM climbing to ₦29.43 trillion, driven by record monthly growth and exceptional market returns. The sharp rise in domestic equities, stable fixed income performance, and continued contribution inflows collectively demonstrate the resilience and increasing sophistication of Nigeria’s pension fund management ecosystem.
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