President Bola Tinubu has revealed that Nigeria’s pension assets have grown to over N25 trillion, describing the development as part of a broader strategy to strengthen social protection and ensure financial security for workers after retirement.

The President made this known at the opening of the ISSA 2026 West Africa Seminar held in Abuja, where he reaffirmed his administration’s commitment to protecting workers from economic uncertainties and workplace risks.

Tinubu noted that since taking office in 2023, his government has focused on its Renewed Hope Agenda, aimed at restoring opportunities, safeguarding livelihoods, and rebuilding confidence in the economy.

He explained that key institutions within Nigeria’s social security system have been reinforced to deliver better outcomes. Through the Nigeria Social Insurance Trust Fund (NSITF), he said more than 7.5 million workers are now covered under the Employees’ Compensation Scheme, providing support in cases of workplace accidents or disabilities.

The President also disclosed that under the National Pension Commission, over 10 million workers are actively contributing to the Contributory Pension Scheme, with total pension assets exceeding N25 trillion.

Represented by the Minister of Budget and National Planning, Atiku Bagudu, Tinubu emphasized that the growth in pension funds reflects renewed trust among Nigerian workers. He said the savings represent confidence that retirement will offer security rather than hardship.

Highlighting other initiatives, Tinubu described employment as the most effective form of social protection. He noted that the National Directorate of Employment has supported over two million Nigerians through skills training, entrepreneurship, and job creation programmes.

On healthcare, he stated that more than 16 million Nigerians have been enrolled in programmes under the National Health Insurance Authority, improving access to medical services and reducing out-of-pocket expenses.

The President added that social intervention programmes under the Federal Ministry of Humanitarian Affairs and Poverty Reduction continue to assist vulnerable households through cash transfers, food security efforts, and livelihood support. He also cited initiatives such as N-Power for their role in boosting youth employment and public service delivery.

Tinubu further highlighted housing reforms under the National Housing Fund and the Renewed Hope Housing Programme, which aim to expand access to affordable homes for low- and middle-income earners.

He explained that these efforts are being strengthened through data integration using the National Social Register to ensure that support reaches those who need it most.

“Our goal is to build an integrated and digitally driven social protection system where pensions, healthcare, employment support, and social assistance work together to provide economic security,” he said.

The President also pointed out that despite the region’s economic potential and youthful population, West Africa continues to face challenges such as unemployment, health risks, and economic instability. He stressed the importance of effective communication in building public trust in social protection systems, urging stakeholders to adopt grassroots-focused approaches.

In his remarks, the Minister of Labour and Employment, Mohammed Maigari Dingyadi, reaffirmed the government’s commitment to protecting workers through strong policies and oversight.

Similarly, the Managing Director of the NSITF, Oluwaseun Falaye, noted that Nigeria’s growing population and evolving labour market make the demand for a more responsive and robust social protection system increasingly necessary.