The National Pension Commission hassaid only 17 Nigerian states are currently implementing the Contributory Pension Scheme as its assets rose to over N26 trillion in September 2025.
Ms Omolola Oloworaran disclosed this during an event in Benin, Edo State.
Oloworaran, who was represented by the Commission’s Inspectorate Commissioner, Chief Samuel Chigozie Uwandu, stressed that CPS plays a vital role in national economic development.
According to her, CPS has evolved beyond a retirement policy and has become a symbol of a national shift towards financial discipline and long-term planning.
Oloworaran noted that the scheme illustrates “a decisive break from past dependencies on state-provided old-age financial security to a new culture of retirement savings and forward planning.
“A contract between the worker and the employer, with the assurance that a lifetime of labour would be rewarded with financial security in old age.”
“Seventeen states out of the 36 states in the country are currently implementing the Contributory Pension Scheme. Twelve states have not started at all, while seven states are at various stages of establishing their pension bureaux.”