(Middle) Director-General, Ms. Omolola Oloworaran at the event with some of the women.
BY NKECHI NAECHE-ESEZOBOR—In the bustling lanes of Mile 12 Market in Lagos, where traders begin their day long before sunrise, a new opportunity for financial security quietly arrived this week.
The National Pension Commission (PenCom) has announced a five-day “matching contribution” incentive designed to help women in the informal sector begin saving for retirement. The programme allows women who open or contribute to a Personal Pension Plan (PPP) to receive a matching contribution of up to N20,000 from the Commission.
The initiative, unveiled during the International Women’s Day Personal Pension Plan Inclusion Campaign, is aimed at women who power Nigeria’s informal economy—market traders, artisans, farmers, and small business owners—many of whom have no structured retirement plan.
For one week, from March 9 to March 13, 2026, every naira a woman saves into her PPP account will be matched by PenCom up to a set limit. A contribution of N1,000 will attract another N1,000, N5,000 will receive N5,000, and savings of N20,000 will be matched with the maximum N20,000 support.
Speaking at the campaign held at Mile 12 Market and the Lagos State Government Secretariat in Alausa, Ikeja, PenCom Director-General Ms. Omolola Oloworaran described the initiative as a direct investment in the financial future of Nigerian women.
“When you save, we also add to your savings,” she told participants. “We call this initiative ‘Give to Gain.’ It is a direct investment in the dignity and financial independence of the Nigerian woman.”
Nigeria’s pension assets have grown to over N28 trillion, with more than 11 million contributors, but most of these workers belong to the formal sector. Women in the informal sector—who make up a large portion of Nigeria’s workforce—often face old age without financial protection.
The Personal Pension Plan, which falls under the Micro Pension Scheme, was designed to change that reality.
According to PenCom, women can start saving with as little as N1,000, and contributions can be made daily, weekly, or monthly, depending on how their businesses perform. The funds are professionally managed by licensed Pension Fund Administrators, ensuring transparency and long-term growth.
“Nigerian women wake up before dawn to keep our economy moving,” Oloworaran said. “Yet many work their entire lives without financial protection. That must change. Every Nigerian woman deserves dignity and security in her senior years.”
PenCom is encouraging women across the country to take advantage of the limited five-day matching window, hoping the incentive will spark a culture of long-term savings.
For traders and entrepreneurs whose incomes fluctuate, the message behind the campaign is simple: save a little today, and build security for tomorrow.
