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PFAs Invest N155.44bn Pension Funds in Real Estate

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Pension Funds Administrators have invested N155.44bn out of the total funds under the Contributory Pension Scheme in real estate properties as of the end of September 2021, according to data from the National Pension Commission.

The PenCom data on monthly pension fund portfolio showed that the total funds under management stood at N13tn as of September.

Other investment portfolios where the funds were invested included FGN securities, domestic and foreign ordinary shares and corporate debt securities, comprising corporate bonds, corporate infrastructure bonds, corporate green bonds and supranational bonds.

The funds were also invested in local money market securities, comprising bank placements, commercial papers and foreign money market securities.

The PFAs invested the rest in mutual funds, comprising open/close-end funds, private equity funds, infrastructure funds, cash and other assets.

Speaking on real estate investment, Mr Lai Omotola, the Group Managing Director/Chief Executive Officer, CFL Group, highlighted the need to invest in real estate.

“Construction remains the fastest way of getting out of recession because of the large value chain to the economy towards creating jobs,” he said.

According to a report by Augusto & Co, a pan-African credit rating agency, the Nigerian pension industry’s net assets are expected to hit the N20tn mark by 2023.

It said in its 2021 insurance industry report that the growth in the pension industry’s managed assets had been largely driven by investment returns and additional contributions, to a lesser extent.

The report said the industry’s annual contributions over the last five years had averaged N699bn while withdrawals had averaged about N341bn, translating to a net annual contribution of N347bn and accounting for 26.6 per cent of the industry’s AuM growth over the period.

It said the remaining 73.4 per cent of average growth was attributable to investment returns earned on the portfolios.


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General News

FG Asks MDAs to Halt New Policies Until Full Compliance with RIA

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Federal government has directed all Ministries, Departments and Agencies (MDAs) to suspend the introduction and rollout of new policies, regulations, or major regulatory changes until full compliance with the Regulatory Impact Analysis (RIA) Framework is achieved.

FG Asks MDAs to Halt New Policies Until Full Compliance with RIA

The directive, issued by Princess Zahrah Mustapha Audu, director general of the Presidential Enabling Business Environment Council (PEBEC), is part of efforts to strengthen regulatory quality, ensure policy coherence, and improve the ease of doing business in Nigeria

According to the statement, the RIA Framework, which was formally implemented in January 2025, requires that all new policies or amendments introduced after the date must undergo review and approval in line with its provisions.

She noted the framework has already been circulated to MDAs by the Office of the Secretary to the Government of the Federation and is also accessible on the PEBEC website.

MDAs are therefore expected to familiarise themselves with the framework and align their policy development processes accordingly.

Audu emphasised that while the government remains committed to working collaboratively with regulatory institutions, no new reform or policy would be allowed to proceed without being backed by clear and verifiable evidence.

She explained the directive aims to prevent policy shocks that could negatively affect businesses, investors and citizens, eliminate inconsistencies and frequent policy reversals, and institutionalise evidence-based policymaking across government.

The directive also seeks to enhance transparency, improve predictability, and boost stakeholder confidence in public policies, while ensuring adequate engagement to minimise resistance prior to implementation.

Consequently, all MDAs have been instructed to suspend any planned policy rollouts that have not yet been implemented, ensure that new policy proposals are supported by comprehensive RIA and necessary approvals, and integrate the RIA process into their internal policy formulation procedures.

They are also required to undertake structured and inclusive stakeholder engagement as part of policy development to improve acceptance and implementation outcomes.

The PEBEC boss added that MDAs can access the RIA Framework through its website or seek technical support from the council’s secretariat.

She, however, noted that exceptions would only be granted in cases of urgent national interest, subject to appropriate approval.

Audu stressed that cooperation from all MDAs is crucial to building a stable, consistent and business-friendly regulatory environment capable of driving sustainable economic growth and boosting investor confidence.

 

 

 


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FG Unveils Digital Platform to Showcase Nigeria’s Culture, Tourism Destinations

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The Federal Government has unveiled a new digital platform, NITOUREY, aimed at showcasing Nigeria’s rich cultural heritage and tourism destinations to global audiences.

The initiative, introduced at a press conference organised by the Nigerian Tourism Development Authority, was described as a public-private partnership designed to project Nigeria’s diverse cultural assets.

Speaking at the event on Tuesday, the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa, said the platform marked another step in repositioning Nigeria as a leading global destination for tourism, culture and creative excellence.

She explained that the digital project would harness the power of the creative economy and technology to amplify Nigeria’s cultural narratives while creating opportunities for young Nigerians, filmmakers, content creators and tourism operators.

Musawa said, “Today marks yet another significant step in our collective journey to reposition Nigeria as a leading global destination for tourism, culture and creative excellence.

“The initiative aligned with the administration’s economic diversification drive, noting that tourism had the potential to contribute significantly to national growth.

“President Bola Tinubu has a vision to use tourism as part of economic diversification and expansion, and NTDA can play a vital role in achieving that goal”.

She emphasised that NITOUREY would not only showcase destinations across the country but also create economic opportunities within the creative industry.

“Through this initiative, we are not only showcasing destinations across Nigeria but also creating opportunities for the creative industries, including filmmakers, content creators, tourism operators and young Nigerians within the creative economy,” she added.

The minister also stressed the importance of collaboration between government agencies, state governments and the private sector, noting that the platform was a PPP initiative designed to unlock the full potential of Nigeria’s tourism and creative sectors.

“This is a commendable PPP initiative that demonstrates the collaboration required to unlock the full potential of Nigeria’s tourism and creative industry,” she said.

She further assured stakeholders that the Ministry of Art, Culture, Tourism and the Creative Economy would continue to support initiatives that enhance Nigeria’s visibility, attract investment and create jobs.

In his remarks, the Director General of NTDA, Ola Awakan, described NITOUREY as a transformative platform that will redefine how Nigeria is presented to the world.

He emphasised that tourism thrives on perception, visibility, and storytelling, noting that the platform will collaborate with key institutions, including the Nigerian Film Corporation, National Film and Video Censors Board, and the National Information Technology Development Agency, to deliver high-quality content.

Awakan added that the initiative is powered by a strong public-private partnership involving TOURCLIQ Creatives Limited and JM MiSA International Limited, underscoring the importance of collaboration in unlocking the full potential of Nigeria’s tourism and creative industries.

He further revealed that NITOUREY will spotlight iconic destinations across Nigeria’s six geopolitical zones, including Zuma Rock, Yankari Resort and Safari, the Argungu Fishing Festival, Ngwo Pine Forest and Cave, Obudu Mountain Resort, and Olumo Rock, projecting them to a global audience.

The platform is expected to serve as Nigeria’s premier tourism streaming platform, projecting the country’s culture, creativity and destinations to both domestic and international audiences.

 


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Telecoms subscribers’ compensation for poor service starts this month – NCC

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Nigerian Communications Commission has announced that its directive requiring telecom operators to compensate subscribers for poor service quality will take effect from this month.

Telecoms subscribers’ compensation for poor service starts this month – NCC

NCC

In an FAQ released on Tuesday, April 7, the Commission clarified that the directive applies specifically to Mobile Network Operators (MNOs) that fail to meet their Quality of Service (QoS) Key Performance Indicators (KPIs).

These include major operators such as MTN, Airtel, Globacom, and 9mobile, although the NCC did not specify which of them fell short of the required standards.

The Commission explained that the compensation framework covers service failures affecting voice calls, data services, and SMS. It also applies to both individual and corporate subscribers.

According to the NCC, subscribers will qualify for compensation if they experienced poor network service in an affected Local Government Area and carried out at least one revenue-generating activity, such as a billed call, SMS, or data session, during the relevant period.

The regulator emphasised that subscribers do not need to apply for compensation, as operators are mandated to automatically identify affected users and provide compensation directly. It added that only service failures falling below defined thresholds under the QoS Regulations will qualify, while brief or quickly resolved disruptions may not be eligible.

The NCC also noted that a separate compensation framework already exists for Internet Service Providers (ISPs). The directive was earlier announced in a statement by the Commission’s Head of Public Affairs, Nnenna Ukoha, as part of efforts to prioritise consumer protection within Nigeria’s telecommunications sector.

The Commission highlighted the critical role of telecom services in economic activity, communication, and access to digital opportunities, noting that poor service quality can negatively impact productivity, business operations, and public confidence.

It added that the compensation policy complements existing regulatory measures aimed at monitoring service delivery and enforcing performance standards across the industry.


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