Leadway Pensure PFA Limited, a licensed pension fund administrators, says Nigeria’s Personal Pension Plan (PPP) will reshape small business owners’ retirement savings, making them more flexible and accessible and ultimately reducing the risk of old-age poverty.
The company maintains that the initiative plays a critical role in Nigerian economic development, given that informal employment remains extremely high.
The country’s informal employment rate reached 92.7 percent in the first quarter of 2024, rising from 92.3 percent in the third quarter of 2023, according to the National Bureau of Statistics (NBS) Labour Force Survey. Tens of millions of economically active Nigerians operate outside employer-led pension arrangements even as they power the country’s commerce and micro-enterprise economy.
At the same time, the pension ecosystem continues to expand in scale.
PenCom’s unaudited industry portfolio for December 31, 2025, records total pension fund assets at ₦27.451 trillion and counts over 11 million RSA members. These figures underscore the size of the formal pension system and highlight the opportunity to extend participation further through PPP.
Leadway Pensure PFA sees significant growth potential for PPP, along with a notable participation gap. PenCom’s Q3 2025 report reveals that, as of September 30, 2025, over 200,000 workers had registered PPP accounts, but only 7.6% funded during the quarter.
Commenting, Olusakin Labeodan, MD/CEO, 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 driving adoption will require sustained education and simpler onboarding. “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 said its renewed PPP awareness drive will focus on helping informal sector participants understand how to enroll for PPP, make contributions that suit their cash flow, whether monthly, quarterly, or as lump sums, track savings growth through digital channels, and access advisory support to maximise retirement planning benefits. Leadway Pensure invites self-employed Nigerians and small business owners to take advantage of the Personal Pension Plan today to secure their future.

Leadway Group, Nigeria’s non-banking financial services group, has unveiled Lead Forward, a strategic initiative for members of the National Youth Service Corps (NYSC) aimed at deepening financial literacy and building awareness around wealth creation. 

Recognising the pivotal transition NYSC represents, Lead Forward which is driven by Leadway Pensure PFA, the Group’s pension administration arm, is designed to equip corps members with foundational financial knowledge, deep insights, and practical tools for long-term financial planning.
The initiative brings the conversation of a well-planned life before and after retirement directly to NYSC orientation camps, making pension education accessible, relatable, and timely for young Nigerians at a pivotal life stage. 

The inaugural phase kicked off in Lagos, setting the foundation for a nationwide rollout across NYSC camps in all geo-political zones.
The goal of the initiative is to spark early, informed conversations about pensions and empower young Nigerians to take control of their financial futures. 

Speaking on the impact of the initiative, Olusakin Labeodan, Managing Director, Leadway Pensure PFA, noted that pension conversations must begin before the first salary alert. “At the NYSC stage, most young people are trying to figure out what is next; where to work, how to survive, what the future holds. Pensions may feel distant, but now is the right time to get educated. Through Lead Forward, we’re making the subject of pensions more relatable and ultimately, more relevant.” 

While Leadway Group has consistently maintained a presence at NYSC camps, particularly in Lagos, the Lead Forward initiative marks a more immersive evolution of its youth engagement efforts across other states. The programme not only educates but also fosters meaningful, ongoing connections with corps members,” he added. 

Leadway has pledged a long-term commitment to help corps members plan and build a better financial future, ensuring they remain informed, supported, and empowered well beyond their service year. 
 
 

The leadership of the Institute of Loss Adjusters of Nigeria (ILAN), led by its President, Ikechukwu Udobi, paid a courtesy visit to the Commissioner for Insurance, Mr. Olusegun Omosehin, today in Abuja.

Speaking on behalf of the Institute, the President expressed profound gratitude to the Commission and the Commissioner for Insurance for the successful revision of the Loss Adjusters’ Scale of Fees—an achievement he described as a significant milestone toward revitalising the profession after decades of stagnation.

The ILAN President also emphasised the need for enhanced training and continuous capacity-building programmes, especially in specialised areas, such as energy, oil & gas, and special risks. According to him, these efforts are crucial to elevating Nigerian loss adjusters to international standards.
He also advocated for stronger collaboration between foreign and Nigerian loss adjusters to deepen knowledge-sharing and industry development.

Udobi stressed the importance of strict compliance with extant laws, regulations, and market guidelines, urging NAICOM to ensure that all market operators fully comply with statutory requirements in their operations.
He also appealed for the Commission’s support in securing a befitting secretariat for ILAN to strengthen the Institute’s administrative capacity.

Responding, the Commissioner for Insurance, Mr. Omosehin, welcomed the ILAN delegation and expressed appreciation for the visit.
He assured them of the Commission’s commitment to supporting every segment of the insurance industry as part of the broader transformation agenda.
The CFI emphasised the need for professionalism and ethical conduct in the discharge of loss adjusting responsibilities, noting that adjusters play a critical role as the bridge between policyholders’ expectations and their satisfaction.

The meeting also underscored the importance of strict adherence to the Code of Conduct and Professional Ethics for Loss Adjusters to enhance the credibility and quality of practice within the profession.