Chief executive officer (CEO) of the Pension Fund Operators Association of Nigeria (PenOp), Oguche Agudah, says 8,408 retirement savings account (RSA) holders received N39.86 billion for residential mortgages in the first quarter (Q1) of 2025.
In a published interview on Tuesday in Lagos, Agudah said that 1,390 RSA contributors accessed N10.52 billion for mortgages in Q1 2024.
Agudah said the Q1 data, compared to 2024, shows a 279 percent increase in the value of disbursements and a 505 percent rise in the number of beneficiaries compared to the previous year.
The CEO explained that the figures recorded in the first quarter of 2025 showed a 32 percent increase in value and an 18 percent rise in the number of beneficiaries compared to the fourth quarter of 2024.
According to Agudah, 2,491 beneficiaries accessed N18 billion in the fourth quarter of 2024.
“Greater awareness of the policy, improved access through pension fund administrators, and rising demand for affordable housing have all played a role,” he said.
“More Nigerians are realising that their pensions are not only a retirement safety net but also a powerful tool to unlock home ownership today.”
Agudah added that the contributory pension scheme is creating real impact, giving people the means to secure homes, build stability, and strengthen financial inclusion across the country.
Recommended for you
Leave a Reply
Leave a Reply
