Nigeria’s National Pension Commission (NPC) has revealed that the country’s total pension asset is in excess of N4.6tn.
Pension Commission to invest N4.6tn in infrastructure
The NPC also, on Monday, April 21, 2015, released the draft regulation on the investment of pension fund assets.
Director-General of PenCom, Chinelo Anohu-Amazu
The move was taken in order to guide Pension Fund Administrators and other investors who had been pushing for the fund assets to be used in the development of infrastructure across the country.
Details of the arrangement were contained in a statement by the Head of Communication, PenCom, Emeka Onuora.
The NPC added that it had set the minimum value of individual projects that pension fund assets could be invested in at N5bn.
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It also stated that as much as 15 per cent of the total value of pension fund assets under management could be invested in infrastructure through infrastructure bonds, and another five per cent of the total assets through the infrastructure fund, making 20 per cent of the total value of accumulated pension assets that could be spent on infrastructure provision.
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