Op­er­a­tors sug­gest in­vest­ing N8trn pen­sion as­sets on in­fra­struc­ture

Weekly Trust - - News - Chris Agabi

Pen­sion op­er­a­tors have ad­vo­cated that the Fed­eral Gov­ern­ment in­vest the over N8.33tril­lion pen­sion as­sets into vi­able in­fra­struc­ture projects. The pen­sion op­er­a­tors have also said they want such in­vest­ments to be well-struc­tured and credit wor­thy.

The Pres­i­dent, Pen­sion Fund Op­er­a­tors As­so­ci­a­tion of Nige­ria (PenOp) Mrs. Aderonke Ad­edeji, said at a re­treat for leg­is­la­tors in Cal­abar, that for the first time Nige­ria can now boast of a long-term fund­ing base and the im­pact has in­cluded the fund­ing of the gov­ern­ment and gov­ern­ment projects, de­vel­op­ment of the cap­i­tal mar­ket as well as in­creased for­eign de­vel­op­ment in­flows. She noted that the In­dus­try has no ob­jec­tions to fund­ing in­fra­struc­ture as there were ben­e­fits to do­ing so.

The Pres­i­dent how­ever noted that, it must be un­der­stood that such in­vest­ments must be in well­struc­tured and credit wor­thy in­stru­ments.

The Act­ing Di­rec­tor-Gen­eral, Pen­Com Mrs. Aisha Dahiru-Umar rep­re­sented by Mr. Yola M. Dati ex­plained that as at Au­gust this year, the Pen­sion In­dus­try mem­ber­ship has grown to 8.31 mil­lion par­tic­i­pants while the size of the Pen­sion Fund As­sets stood at N833 tril­lion.

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