In Q3 2022, growth was strong in Nigeria’s contributory pension scheme as the scheme added Eighty Six Thousand Eight Hundred and Sixty-One (86,861) new registrations. This brought the total number of new registrations for the first three quarters of 2022 to Three Hundred and Two Thousand Six Hundred and Ninety-Four (302,694). This is an increase of 23.3% from the first three quarters of 2021, which recorded Two Hundred and Forty-Five Thousand Six Hundred and Fifty-Six (255,656) new registrations during the first three quarters, signifying strong and consistent growth.
Back to the gender angle. Of the 86,861 new registrations in Q3 2022, 65% were men, and 35 % were women. Perhaps this is as a result of fewer women entering the workforce since the pandemic. It would be interesting to query this and hear from you. A lot to unpack here.
On the younger generation front, 52% of new registrations were people under 30 years which highlights the strength and sustainability of the scheme.