Nigeria. Uduanu: It is Time to Relax Pension Fund Investment Guidelines
The Managing Director and Chief Executive Director, Sigma Pensions, Mr. Dave Uduanu in this interview, spoke extensively on the progressive reforms in the pensions industry and how pension funds can impact the lives of Nigerian citizens. Nume Ekeghe presents the excerpts:
Being that we are still in the first quarter of the year, what is your outlook for the pensions industry for 2018?
We expect growth to continue in the pension industry. The industry is now growing at about 20 per cent per annum and we expect it to grow slightly higher this year on the back of good investment returns. So if you look at pension growth from three sources, which are firstly, investments, secondly contribution from existing customers and thirdly from new customers. So we expect more job creation this year based on the budget that was read and the ruling party’s view of the year which has a lot of interest in construction and reviving the agricultural and industrial sector. We are beginning to see a bit of that coming though in the new customers we are enrolling and we also expect more states to key into the scheme. We have seen about three states announce their intention to join the scheme this year.
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