By Modupe Gbadeyanka
The total value of pension assets in Nigeria has risen to N9.58 trillion in the third quarter of this year from N9.03 trillion in the first quarter of 2019. This revelation was made by the National Bureau of Statistics (NBS) in a report released this week.
From the numbers, the debt instruments issued by the federal government contributed 71.43 percent, with FGN Bonds taking 46.71 percent and treasury bills 23.62 percent.
In value terms, out of the N9.58 trillion pension assets, N6.85 trillion is from FGN securities, with FGN Bonds gulping N4.48 trillion and T-bills N2.26 trillion.
In addition, the local money market securities contributed 11.21 percent or N1.10 trillion to the value weight while foreign money market securities has the least with 0.09 percent weight.
Investment in Sukuk added N80.53 billion or 0.84 percent, while green bonds had N13.38 billion or 0.14 percent, with state government bonds adding N125.24 billion or 1.13 percent and corporate debt securities N621.96 billion or 6.49 percent.
Also, investment in real estate properties N231.48 billion or 2.42 percent, while mutual funds had N21.81 billion or 0.23 percent, with foreign money market securities contributing N8.42 billion or 0.09 percent.
Business Post reports that the number of registered contributors under the Contributory Pension Scheme (CPS) as at September 30, 2019 stood at 8.85 million.
Adedapo Adesanya