Besides investing in infrastructure like roads and the power sector, finance experts have advocated investment of pension funds into short term government securities.
Speaking at the end of the World Pension Summit in Abuja, they called for discipline and the engagement of experts in managing the funds.
What must be done to reform the pension system in Nigeria and Africa, often characterized by delayed payment upon retirement or non-enrollment, after years of meritorious service, came to the fore at the event.
The Director-General, National Pension Commission, Chinelo Anohu-Amazu, said that key decisions were being made on how to reverse the trend and ensure that the funds are channelled into ventures that are worthwhile.
Other speakers at the summit also spoke about protecting depositors’ funds that would guarantee a secure future for retirees.
While pension assets in Africa is put at over 400 billion dollars, it still has an infrastructure deficit of 75 billion dollars. This huge resources, according to the experts, could turn the economic development of the region around if well harnessed.
