Leadway Pensure Highlights Growth Potential of Personal Pension Plan for Nigeria’s Small Businesses
Leadway Pensure PFA Limited, one of Nigeria’s leading pension fund administrators, states that Nigeria’s Personal Pension Plan (PPP) will reshape small business owners’ retirement savings by making them more flexible and accessible, ultimately reducing the risk of old-age poverty.
The company emphasizes that this initiative plays a critical role in Nigeria’s economic development, especially given the high rate of informal employment. According to the National Bureau of Statistics (NBS) Labour Force Survey, Nigeria’s informal employment rate reached 92.7% in Q1 2024, up from 92.3% in Q3 2023. Tens of millions of economically active Nigerians operate outside employer-led pension arrangements, even as they drive the country’s commerce and micro-enterprise economy.
Meanwhile, the pension ecosystem continues to expand. PenCom’s unaudited industry portfolio for December 31, 2025, records total pension fund assets at ₦27.451 trillion and over 11 million RSA members. These figures underline the size of the formal pension system and present an opportunity to extend participation through PPP.
Leadway Pensure PFA sees significant growth potential for PPP, alongside a notable participation gap. PenCom’s Q3 2025 report indicates that, as of September 30, 2025, over 200,000 workers had registered PPP accounts, but only 7.6% of those accounts were funded during the quarter.
Commenting on this, Olusakin Labeodan, MD/CEO of Leadway Pensure PFA, said, “Small businesses are Nigeria’s economic backbone, yet many owners lack disciplined retirement security. The Personal Pension Plan allows flexible contributions that match income realities, helping entrepreneurs secure their future as they build their businesses. With strong participation, PPP can help move more Nigerians toward stability and deserved dignity in retirement.”
He added that increasing adoption will require ongoing education and simplified onboarding processes. “Our focus is to convert awareness into consistent contributions by meeting informal workers where they are and through digital access, targeted community engagement, and guidance that makes pension planning feel practical, not distant.”
Leadway Pensure PFA’s renewed awareness campaign will focus on helping informal sector participants understand how to enroll in PPP, make contributions that suit their cash flow—whether monthly, quarterly, or as lump sums—track savings growth via digital channels, and access advisory support to maximize retirement planning benefits. The company invites self-employed Nigerians and small business owners to take advantage of the Personal Pension Plan today to secure their future.