Investors Lobby as PFAs Invest N17 Billion Pension Funds in Infrastructure
Latest data from the National Pension Commission shows that Pension Funds Administrators (PFAs) have raised their investments in infrastructure to N17.12 billion from the pension money in their custody.
Operators of the Contributory Pension Scheme have also said that investors have continued to intensify their lobby to access the funds in their custody.
Figures obtained from the commission on Tuesday revealed that the total assets under the CPS stood at N8.34 trillion as of the end of September.
According to the commission, in May 2015, the operators invested N568 million in infrastructures and increased it to N1.35 billion in December 2015.
It added that the PFAs invested N2.06 billion in infrastructure bond in December 2016, and had gradually increased the pension funds invested in the portfolio.
According to PenCom, the PFAs invested N6.86 billion in the nation’s infrastructure as of December 2017.
The President, PenOp, Mrs Aderonke Adedeji, said that the issue of the role of pension funds in economic development had moved into the focus of public attention, particularly with regard to Nigeria’s growing need for long term capital.
She explained that successful mobilisation of pension fund assets and its contributions to the economic growth of any nation were essential policy objectives.
She said “For the first time, our country can now boast of a long term funding base and the impact to date has included the funding of the government and government projects, development of the capital market as well as increased foreign development inflows.”