In 2025, Nigeria’s stock market delivered a historic rally, and pension funds capitalised even more.
By October, the pension industry’s domestic equity holdings had surged to about N3.84 trillion from roughly N2.2 trillion at the start of 2025. This represents a 71 percent increase in ten months. In contrast, the NGX All-Share Index rose 51.19 percent for the year. Even the NGX Pension Index, which tracks key pension-related stocks, returned 57 percent in 2025, meaning pension portfolios outperformed these benchmarks handily.
Meanwhile, t
