Nigeria's pension industry's AUM reached N18.36 trillion in 2023, growing 22.5% YoY, representing 9% of the nation's GDP.

Nigeria's pension industry experienced significant growth in 2023, with total assets under management (AUM) reaching N18.36 trillion, an impressive 22.5% year-on-year increase. The industry remains underpenetrated, representing only 9% of Nigeria's 2022 GDP, significantly below the global average. In other news, the President of Nigeria has appointed John Kwaning Mbroh as the new CEO of the National Pensions Regulatory Authority (NPRA), and Access Holdings has acquired an 80% stake in Uganda's Finance Trust Bank Ltd.

January 26, 2024
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