71.28% of total pen­sion fund as­sets in FG debt se­cu­ri­ties – NBS

Daily Trust - - BUSINESS - By Fran­cis Arinze Iloani

The Nige­rian pen­sion fund ad­min­is­tra­tion data has shown that 71.28 per cent of the total pen­sion fund as­sets in the coun­try as at the end of 2016 was in Fed­eral Govern­ment debt se­cu­ri­ties.

The data re­leased yes­ter­day by the Na­tional Bu­reau of Sta­tis­tics (NBS) re­vealed that 9.48 per cent of the na­tion’s total pen­sion fund as­sets were in­vested in or­di­nary shares while 6.51 per cent were in money mar­ket se­cu­ri­ties.

The data showed that de­spite the clam­our for the use of pen­sion funds for in­fra­struc­ture devel­op­ment in the coun­try, only 0.03 per cent of the total pen­sion fund as­sets are in­vested in in­fra­struc­ture funds.

The re­port dis­closed that the pen­sion fund as­set un­der man­age­ment as at the end of De­cem­ber, 2016 stood at N6.16 tril­lion as against N5.30 tril­lion in 2015.

The total as­set as at the pe­riod un­der re­view rep­re­sents 6 per cent of the Gross Do­mes­tic Prod­uct (GDP) as against 5.57 per cent in 2015.

The re­port showed that 98.56 per cent of the funds were in­vested in do­mes­tic mar­ket while the re­main­ing 1.44 per cent were in­vested in for­eign mar­ket.

Anal­y­sis of the re­port showed that par­tic­i­pants within the age dis­tri­bu­tion be­low 40 years have the high­est per­cent­age com­po­si­tion by sec­tor and gen­der, closely fol­lowed by par­tic­i­pants within the age brack­ets of 40 to 49 years and 50 to 59 years re­spec­tively.

Mean­while, par­tic­i­pants above 60 years have the least per­cent­age com­po­si­tion by sec­tor and gen­der.

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