The National Pension Commission has promised to bring pension coverage to the doorstep of operators in the informal sector of the economy.
The Director General, National Pension Commission, Omolola Oloworaran disclosed this at the 2025 Pension Correspondents Association of Nigeria, PENCAN annual conference in Abuja.
Represented by the Head, Corporate Communications Department, Ibrahim Buwai, the PenCom boss said the formal sector remains key but represents just a fraction of the country’s workforce as millions of Nigeria’s citizens earn their livelihoods through informal activities like trading, farming, craft work, and freelance services.
She also spoke on some initiatives being put in place to enhance the scheme as well as protect both new and existing contributors.
Some stakeholders also spoke on the significance of the conference by stressing the importance of Personal Pension Plan as a strategic innovation to extend retirement security to Nigeria’s vast informal sector.
Earlier, PENCAN, President, Nana Musa said due to the urgent need to enhance social protection and retirement security to millions of Nigerians outside the formal system, swift action must be taken on the implementation of Personal Pension Plan of the informal sector, which accounts for over eighty per cent of the nation’s workforce.
The theme of the 2025 Pension Correspondents Association of Nigeria, PENCAN annual conference is, “Inclusion and Innovations: Bridging the Pension Gap for Nigeria’s Informal Sector.”
