NPF, Access Pension Top Investment Ranking For PFAs

Latest data released by industry analysts, Pension Nigeria, has shown that the Nigerian Police Force (NPF) Pensions and Access Pensions closed 2022 as the top PFAs by investment returns across the four main retirement savings accounts funds.

Globally, 2022 was a difficult year for financial markets as rate hikes by global central banks drove bearish sentiments across most asset classes.

In Nigeria, the Central Bank of Nigeria (CBN) responded to rising inflation with an increase in the key monetary policy rate from 11.5 percent to 16.5 percent by the end of the year. Over the year, average pension fund returns across the four funds was 8.97 percent, 9.55 percent, 9.86 percent, and 10.22 percent for Fund I, II, III and IV respectively.

NPF Pensions is a special interest pension fund administrator dedicated to managing pensions for members of the Nigerian Police force while Access Pensions was formed from the merger of the erstwhile Sigma Pensions Limited and First Guarantee Pensions Limited.

Among the open PFAs not dedicated to a special interest group, Access Pensions topped the pack with Leadway in second place and Crusader Sterling in third place.

Shell Sees $6bn Oil, Gas Investment Opportunity In Nigeria Agency Reports In a move to attract capital to Africa’s top energy producer, President Bola Tinubu met with Shell’s Director of Gas and Upstream Operations, Zoe Yujnovich, on Thursday. The meeting resulted in promising developments for Nigeria’s energy sector, with Shell expressing significant investment interest. President Tinubu’s spokesperson, Ajuri Ngelale, announced in a statement that Shell has identified a potential $5 billion investment opportunity in the offshore Bonga North oil project He added that the company also pledged to invest an additional $1 billion over the next five to 10 years to boost natural gas production for both domestic consumption and exports. “I am really keen to make that investment as soon as possible,” Ngelale cited Yujnovich as saying. “We want to continue and build a pipeline of new investments in Nigeria.” According to Reuters, a Shell spokesperson confirmed the talks with the Nigerian president but declined to provide further details due to the private nature of the discussions. Nigeria’s oil production has been declining for years due to large-scale theft and sabotage. However, recent months have seen a rebound, primarily driven by offshore production, which is less susceptible to attacks. President Tinubu pledged to address “all investment-related issues” hindering capital investment in the Nigerian energy sector. “There is no bottleneck that is too difficult for us to remove in our determined march toward making Nigeria the African haven for large-scale investments,” Tinubu stated. This news marks a positive development for Nigeria’s oil and gas industry. The potential $5 billion investment in the Bonga North oil project could significantly boost production and generate substantial revenue for the country. Additionally, the $1 billion investment in natural gas production will contribute to energy security and potentially unlock export opportunities.

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In terms of returns, these three PFAs delivered returns above the peer average across their four main funds. 2022’s top performance is a significant milestone for Access Pensions following the entry of Access Corporation into the pension space and this strong investment returns makes it an attractive choice for those looking to invest in a well-managed pension fund.

In 2022, despite the difficult macroeconomic environment, aggregate pension assets under the Contributory Pension Scheme (CPS) hit the NGN15trillion looking at data from the National Pension Commission (PenCom).