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Nigeria pension funds plan $200 million infrastructure investment

By , based on Daily Trust

Nigeria pension funds plan $200 million infrastructure investmentIllustrative image · Tayssir Kadamany · Pexels · Licence Pexels

Nigerian pension fund managers plan to invest $200 million over 10 years in a $250 million infrastructure fund. The remaining $50 million would be sought from development finance institutions, while National Pension Commission Director-General Omolola Oloworaran said discussions are under way, according to the Daily Trust.

Nigerian pension fund operators plan to invest $200 million in infrastructure over 10 years as anchor investors in a $250 million programme. The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, announced the initiative in Lagos during national pension week, according to the Daily Trust.

The remaining $50 million is expected to be sought from development finance institutions, with which discussions are under way. The project involves the gradual creation of a pension fund investment consortium for infrastructure, intended to finance productive projects while providing returns to contributors.

Omolola Oloworaran said the investments would be subject to rigorous project selection and strict rules to protect retirement savings. She described the collective commitment as a first for Nigeria’s pension sector, whose assets need to be directed more towards infrastructure and real assets. Implementation will depend on the programme’s phased rollout and the agreement of financial partners.

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