Nigeria’s Pension fund will hit the N20 trillion mark in the next eight years from the current N5.3 trillion, Chairman, Pension Fund Operators Association of Nigeria (PenOp), Longe Eguarekhide has said.

He gave this projection while speaking at the Pension Industry Operators 2016 media  retreat organised by PenOp in Lagos.

Eguarekhide, who is also the Managing Director of AIICO Pension Managers Limited, stated that pension fund managers priority is ensuring that the funds are safe.

He stressed that the group will not compromise in protecting the accumulated asset from contributors and would guard its safety jealously.

He added that the funds will only be invested in wise and profitable investments, adding that new ways   growing the fund will be developed.

In the same vein, the Head, Investments, Pensions Alliance Limited, Mrs. Abimbola Sulaiman, said lack of investment options,  bankable projects, transparency, shortage of data as well as high risk related Greenfield investment, among others have been identified as clogs to investment of pension funds especially in infrastructure.

In a paper titled: “Investment of Pension Funds, Processes- Challenges, Risks and Rewards,” she highlighted some consideration and review of existing engagement rule to create opportunities for investment in critical areas in the economy.

According to her, infrastructure bonds remain the easiest way to introduce majority of pension funds into infrastructure investments, as it is similar to traditional bond investments

She said when considered that an estimated $3 trillion is required over a period of 30 years to cover infrastructure deficit according to the National Integrated Infrastructure the limit of spending is grossly inadequate.