The National Pension Commission (PenCom) has announced that pension fund returns surpassed inflation as of March 2026, marking a significant milestone in restoring the real value of contributors’ savings.
The Director-General of PenCom, Omolola Oloworaran, disclosed this during her welcome remarks at the first bi-annual roundtable discussion between PenCom and the leadership of the Trade Union Congress of Nigeria (TUC).
According to Oloworaran, the achievement reflects the impact of ongoing reforms under Pension Revolution 2.0, a strategic initiative aimed at enhancing investment performance and safeguarding retirement savings against inflationary and currency risks.
As part of the reform agenda, the pension industry recently conducted a comprehensive review of its investment guidelines to strengthen long-term returns and preserve contributors’ wealth. The revised framework significantly expands the range of allowable asset classes, with increased exposure to real assets such as infrastructure investments, which serve as a natural hedge against inflation.
In addition, PenCom has introduced new investment instruments, including securities lending, repurchase agreements, and treasury bills, to deepen market participation, improve liquidity, and enhance portfolio yields.
The review acknowledged that rising inflation and exchange-rate volatility had previously eroded real pension returns, underscoring the need for a more diversified and resilient investment strategy. The updated framework is therefore designed to optimize returns while positioning pension assets to better withstand macroeconomic shocks.
“These reforms are already yielding results,” Oloworaran said, noting that pension fund returns are now approaching — and in some cases exceeding — inflation, representing a major turnaround after years of real value erosion.
PenCom is also working towards establishing a minimum pension guarantee through the Pension Protection Fund, supported by federal government contributions following the clearance of outstanding pension liabilities.
“This will enable us to establish a minimum pension for Nigerians, a critical step towards ensuring dignified retirement,” she stated.
Currently funded by PenCom, Pension Fund Administrators (PFAs), and Pension Fund Custodians (PFCs), the scheme will initially be implemented within the public sector before extending to private-sector workers as the funding base expands.
The regulator is also advocating for eventual mandatory contributions to strengthen the sustainability of the fund, a move that may require labour support amid anticipated resistance from employers.
The 2026 Unified Tertiary Matriculation Examination (UTME) has officially commenced today across Nigeria, with more than 2.2 million candidates taking part in the nationwide assessment exercise.
The examination, conducted by the Joint Admissions and Matriculation Board (JAMB), began on Thursday April 16, at accredited Computer-Based Test (CBT) centres nationwide, as candidates sat for their scheduled sessions under strict supervision and updated examination guidelines.
JAMB disclosed that 2,243,816 candidates enrolled for this year’s examination, marking a 10.5 per cent rise compared to the 2.03 million candidates recorded in 2025.
To strengthen the credibility of the process, the board has introduced biometric authentication and live monitoring technology throughout the examination period.
According to JAMB, any candidate whose biometric data fails verification will be rescheduled for another date at designated centres.
Candidates were also instructed to print their examination notification slips from the official JAMB portal to confirm their exam dates, venue, and time, and to report at their centres at least one hour before their allotted session.
State-by-state registration data released by the board showed that Lagos State recorded the highest number of applicants with 381,814 candidates.
It was followed by Ogun with 137,156, Oyo with 122,662, Kaduna with 103,498, and the Federal Capital Territory with 102,961.
BY MADUEKE OBIWANNE-(ABUJA)—The Nigerian Communications Commission (NCC) has reaffirmed its commitment to expanding digital connectivity across the country, stressing that stronger fibre optic infrastructure remains critical to improving broadband penetration and bridging the digital divide.
The Commission said the renewed push forms part of broader efforts to accelerate digital transformation, drive economic growth, and ensure improved access to essential services such as education, healthcare, agriculture, and public service delivery nationwide.
Speaking at a Strategic Fibre Optics Training Workshop held in Abuja, the Executive Vice Chairman of the Commission, Dr Aminu Maida, said robust partnerships and technical expertise are essential to achieving nationwide digital progress.
Maida, whose remarks were delivered by Abraham Oshadami, noted that a properly regulated and durable fibre optic network is fundamental to the country’s digital development goals.
He explained that the workshop, themed “Strategic Fibre Optics Infrastructure Deployment and Regulatory Management,” comes at a crucial period as Nigeria steps up efforts to close the digital connectivity gap.
According to him, expanding fibre infrastructure remains a major driver of economic development and improved service delivery.
“As a country determined to boost broadband coverage, we recognise that strategic fibre rollout is vital for economic advancement, financial inclusion, education, healthcare, agriculture, and effective public service delivery,” he said.
Maida further disclosed that the Federal Government, through Project BRIDGE — Building Resilient Digital Infrastructure for Growth — under the Federal Ministry of Communications, Innovation and Digital Economy, is set to install an additional 90,000 kilometres of fibre optic cables across the country.
He said the initiative is designed to improve connectivity in all 774 Local Government Areas, with the aim of widening digital access and inclusion nationwide.
Despite the ambitious expansion plan, Maida acknowledged several obstacles, including expensive Right of Way (RoW) fees, administrative bottlenecks at state levels, and acts of infrastructure vandalism.
He, however, said the Commission is working closely with regulatory agencies, state authorities, and security institutions to tackle these issues.
According to him, 13 states have already removed RoW charges following the Commission’s engagement efforts, a development expected to encourage more investment from telecommunications companies.
The NCC chief also referred to a 2024 presidential directive, coordinated with the Office of the National Security Adviser, which classified telecom infrastructure as Critical National Information Infrastructure (CNII) to strengthen its protection.
Maida stressed that cooperation and capacity building remain key pillars of the Commission’s regulatory agenda.
He expressed confidence that the five-day training workshop, organised by the International Telecommunication Union (ITU) in collaboration with the Digital Bridge Institute and backed by the European Union, would enhance regulatory performance and support faster fibre deployment across Nigeria.
Also speaking at the event, Inga Stefanowicz, Head of Section for Green and Digital Economy at the EU Delegation, said the European Union’s global strategy places strong emphasis on investments in digital infrastructure, energy, transportation, healthcare, and education across Africa.
She added that the EU Digital Economy Package for Nigeria, launched in 2022, has committed €820 million, including €160 million in grants, to support digital skills development, innovation centres, and public digital infrastructure, with particular focus on fibre network expansion.