PFAs' Exposure to Equities and Securities Drops to N23.31tn

As of June 2026, Pension Fund Administrators (PFAs) decreased their combined exposure to quoted equities and Federal Government securities to N23.31 trillion, down 2.68% or N642.65 billion from N23.95 trillion in May 2026, according to the National Pension Commission (PenCom). Despite this month-on-month decline, PFAs' investments in equities and government securities rose by 14.9% or N3.02 trillion from N20.29 trillion in December 2025.

Investments in quoted equities reached N5.9 trillion, a 49.4% increase from N3.96 trillion at the end of December 2025, while exposure to Federal Government securities rose by 6.5% to N17.4 trillion. The data indicates a growing confidence in the Nigerian stock market, driven by improved corporate earnings and favorable market conditions.

Government securities accounted for 56.7% of the pension industry’s Net Asset Value of N30.7 trillion, reflecting a preference for capital preservation and growth. Treasury bill yields ranged between 16% and 18% in early 2026, attracting institutional investors.