Pension Fund Operators Association of Nigeria (PenOp) has revealed that savings under Personal Pension Plan (PPP), designed for self-employed Nigerians and informal sector workers, have grown by 765.8 percent in four years.
Gatekeepers News reports that speaking in Lagos on Tuesday, Oguche Agudah, PenOp’s chief executive officer, described the PPP as one of the fastest-growing schemes in the nation’s pension industry, noting that it expanded from N168.63 million in 2021 to N1.46 billion in 2025.
He said, “The scheme, which was rebranded to improve its appeal to younger Nigerians and informal sector workers, has grown nearly ninefold in four years.”
Agudah explained that contributions rose to N285.31 million in 2022, N500.63 million in 2023, N867.72 million in 2024, and N1.46 billion by mid-2025.
He added, “The Personal Pension Plan is set to remain a cornerstone of Nigeria’s financial inclusion strategy. With its simplified branding, tech-driven contributions, and expanding awareness, it is poised to reach more Nigerians in the coming years.”
