Pension Fund Competing Well In Equity Market – Stakeholder

The Chairman, Seplat Petroleum Development Company, Brayant Orjiakor, said on Tuesday that the pension fund is competing well in the equity market, noting that the … Continue reading Pension Fund Competing Well In Equity Market – Stakeholder


Brayant OrjiakorThe Chairman, Seplat Petroleum Development Company, Brayant Orjiakor, said on Tuesday that the pension fund is competing well in the equity market, noting that the World Pension Summit (Africa Special) holding in Nigeria is a great opportunity “for the real impetus to be given to the essence of investing pension funds rightly”.

Speaking on Business Morning, Mr Orjiakor commented on the clamour for pension monies to be loaned out to investors and maintained that “the pension fund in Nigeria has done tremendously well”.

He noted that there had been an increase from “a negative of over two trillion Naira pre-2004 to pension asset of over four trillion Naira in 2014”.

He also stated that “one of the greatest achievements of the Obasanjo administration is putting in place the Contributory Pension Fund which the PENCOM has been driving and it’s also very gratifying that the Jonathan administration has continued to consolidate on this by the new bill they just passed”.

He stressed on the importance of the Summit to lay emphasis on the right issues, especially investment of pension assets. He added that the issue of infrastructure, which is also being discussed, is very important.

“When you look at the infrastructure gap in Africa, in Nigeria and look at the demographics of the continent, you find that having the right access to funds needed for investments in infrastructure is very important for real, sustainable development in the continent.

“For us as a company, we see that the pension asset investment finds good home in very good entities, in the equity market.

“Therefore, when we did our IPO in April of this year, we saw real solid participation by the Pension Fund, competing with the international institutional investors. That is very impressive and going forward, we believe that with the awareness that is being created, not only will that fund grow,  it will find very credible investment outlay in the country and in the continent,” he said.