The federal government, in collaboration with the European Union (EU), United Nations Children’s Fund (UNICEF), and other international partners, has launched a N21.7 billion social protection initiative aimed at strengthening Nigeria’s safety net for vulnerable populations.
Known as the Sustainable Social Protection System in Nigeria (SUSI), the programme is being funded with a €10 million grant from the EU and implemented by UNICEF and other agencies. It is designed to integrate and support existing national efforts including the National Social Register, Conditional Cash Transfers, and durable solutions for displaced persons.
Speaking during the launch in Makurdi , minister of humanitarian affairs and poverty reduction, Prof. Nentawe Yilwatda, described the SUSI programme as a “lifeline” for victims of terrorism and extreme poverty. He said, “This project is coming at the right time, with the right partners, and building on the right foundation. It is a deliberate effort to say: never again should our communities fall through the cracks of our safety nets.”
Yilwatda urged stakeholders to take decisive actions to support displaced and vulnerable populations, especially in conflict-affected communities such as Yelewata in Benue State.
Governor Hyacinth Alia, represented by deputy governor Dr. Sam Ode, said Benue remains in dire need of humanitarian support as attacks and displacements continue to rise. According to him, “This programme affirms that we are not just managing poverty; we are building pathways to dignity and self-reliance.”
The EU had earlier announced a €46 million package in March 2025 to support Nigeria’s social protection architecture, targeting over 16 million poor and vulnerable citizens in a country where an estimated 90 million people live below the poverty line.
Meanwhile, Nigeria’s pension fund assets rose to N23.65 trillion in April 2025, up from N23.33 trillion in March, reflecting a 1.40 percent month-on-month increase, according to fresh data from the National Pension Commission (PenCom). Federal Government of Nigeria (FGN) securities remained the dominant investment class, rising by 1.76 percent to N14.65 trillion, and accounting for 61.94 percent of total pension assets. FGN Bonds (held-to-maturity) climbed to N12.46 trillion, Sukuk Bonds surged to N96.83 billion, and agency bonds issued by institutions such as NMRC and FMBN rose 8.75 percent. However, Green Bonds and Treasury Bills recorded declines of 8.19 per cent and 3.08 per cent, respectively, indicating a possible shift from short-term and ESG-linked assets.
State government securities grew by 1.12 percent to N252.53 billion, suggesting modest appetite for sub-national debt. Investments in corporate debt fell by 1.38 percent to N2.32 trillion, driven largely by a 4.04 percent drop in Corporate Bonds (HTM). Conversely, Corporate Bonds marked as available-for-sale climbed 3.05 percent, and Corporate Infrastructure Bonds recorded a sharp 16.81 percent increase.
Private equity allocations rose 40.10 percent to N230.18 billion, reflecting rising risk appetite and a search for higher returns. Commercial paper holdings also increased by 10.43 percent. In contrast, foreign money market instruments declined sharply by 9.86 percent, likely due to forex risk concerns or tighter global liquidity conditions.
Investor exposure to mutual funds jumped 16.94 percent to N180.15 billion, with Open and Close-End Funds alone rising by 24.41 percent. Real estate assets increased by 6.18 percent to N275.08 billion, while REITs hit N75.24 billion following a 7.91 percent rise. Supra-national bond holdings grew by 1.90 percent amid confidence in multilateral institutions, while infrastructure funds fell by 2.09 percent, and cash and other liquid assets declined 6.44 percent.
Equity investments showed a mixed outlook. Domestic equities posted a marginal gain of 0.10 percent to N2.57 trillion, while foreign equities rose 5.20 percent to N277.08 billion, indicating a cautious return to international markets.
Fund II, the default retirement savings account (RSA) fund for contributors under 49, maintained its dominance with N9.83 trillion, accounting for 41.54 percent of total pension assets. Fund III, for contributors aged 50 and above, increased to N6.20 trillion. Fund IV (for retirees) posted N1.77 trillion in assets, while Fund I, for more aggressive investors under 49, rose to N304.91 billion.
The micro-pension Fund V grew modestly to N1.35 billion, maintaining its relevance for informal sector coverage. Fund VI and its retiree version, designed for contributors adhering to Islamic finance principles, stood at N134.48 billion and N12.98 billion respectively.
Closed Pension Fund Administrators (CPFAs) and Approved Existing Schemes (AES) held N2.61 trillion and N2.80 trillion, respectively, both marking double-digit growth of over 11 percent.
The latest data reflects a cautious but evolving investment strategy among Nigeria’s Pension Fund Administrators (PFAs). While FGN securities continue to dominate allocations, there is increased interest in higher-yielding asset classes such as private equity, infrastructure bonds, and commercial papers. The shift toward foreign equities and alternative investments suggests that PFAs are gradually diversifying in response to inflationary pressure and low domestic interest
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