President Bola Tinubu has unveiled a N25 trillion pension asset pool as part of a sweeping social protection drive, assuring Nigerian workers of improved security and stability after retirement.
The President made this known at the opening of the ISSA 2026 West Africa Seminar in Abuja, where he reaffirmed his administration’s commitment
to shielding workers from economic shocks and workplace risks.
Represented by the Minister of Budget and National Planning, Atiku Bagudu, Tinubu said the pension assets reflect growing trust and confidence in the Contributory Pension Scheme.
He disclosed that over 10 million Nigerians are actively contributing to the scheme under the supervision of the National Pension Commission.
The President noted that key institutions driving social security in Nigeria have been strengthened to deliver better outcomes for workers.
He said over 7.5 million employees are now covered under the Employees’ Compensation Scheme of the Nigeria Social Insurance Trust Fund, providing protection against workplace injuries and economic shocks.
Tinubu added that employment remains a major pillar of social security, noting that the National Directorate of Employment has empowered more than two million Nigerians through skills acquisition and job creation programmes.
On healthcare, he explained that over 16 million Nigerians have been enrolled under programmes of the National Health Insurance Authority, improving access to medical services and reducing out-of-pocket expenses.
The President also highlighted ongoing social intervention initiatives, including conditional cash transfers and youth empowerment programmes, aimed at supporting vulnerable households.
He noted that housing reforms under the National Housing Fund and the Renewed Hope Housing Programme are also expanding access to affordable homes.
Tinubu explained that these interventions are being strengthened through data integration using the National Social Register to ensure targeted delivery.
He emphasised the need for an integrated and digitally driven social protection system that combines pensions, healthcare, employment support and social assistance.
The President also called for improved communication strategies to build public trust in social security systems across West Africa.
In his remarks, the Minister of Labour and Employment, Mohammed Maigari Dingyadi, reaffirmed the government’s commitment to protecting workers’ welfare through effective policies.
Also Speaking, the Managing Director of the NSITF, Oluwaseun Falaye, noted that the demand for a stronger and more responsive social protection system continues to grow with Nigeria’s population.
