The National Pensions Commission (PenCom) says that more pension assets will be deployed to fund critical infrastructures. According to the PenCom, by 2019, at least, 40 percent of PenCom assets would be invested in critical infrastructures across the country. The pension assets as at July 2016 stood at N5.8trn.
The Director-General of PenCom, Mrs. Chinelo Anohu-Amazu, disclosed this in Abuja at a programme organised by the Finance Correspondents Association of Nigeria (FICAN). Anohu-Amazu, represented by Mr Ehimeme Ohioma, the head, investment supervision, said that the investment of pension fund in infrastructures was a reasonable proposition.
Adding that infrastructure projects were long term investments, fitting the long term duration of pension liabilities. She said that globally, productive investments in infrastructures were made possible by long term private fund and savings, adding that most successful countries used pension assets to develop infrastructures.