Stakeholders at the 2026 Inspenonline Retirement Summit have advised workers across the formal and informal sectors of the economy to strategically plan their retirement, utilising multiple available windows.
While advocating an increased subscription to insurance and pension products, experts at the event in Lagos, urged Nigerians to initiate retirement planning early in their career paths to ensure a comfortable life after active service.
The chairman of STI Leasing Limited Mr. Tom Ogboi, applauded the organisers of the summit, calling for heightened sensitisation on how workers could enjoy life post-retirement.
Sharing his personal experience, Ogboi disclosed that he retired as far back as 2002 and had been able to enjoy his retirement doing what he loved due to strategic planning.
He emphasized that preparing for that phase of life must be intentional for every worker.
In the same vein, the Chief Executive Officer, CEO, of the Centre for the Promotion of Private Enterprise (CPPE) Dr. Muda Yusuf, lamented the current plight of retirees in Nigeria.
He noted that many ex-workers who dedicated their active years to service were now suffering due to systemic collapse and low retirement awareness.
To mitigate that, Yusuf advocated for the creation of a specialized government agency saddled with the responsibility of increasing public awareness and advocacy; driving enlightenment and education on retirement matters and ensuring workers actively structure their retirement plans while still in active service.
Addressing the gathering, the Media, Branding, and Communications Lead at the Pension Fund Operators Association of Nigeria (PenOp), Olajumoke Akinwunmi, stated that the pension industry had evolved significantly to ensure retirees received their benefits as and when due.
She added that pension fund assets had grown consistently, yielding strong investment returns to deliver value to contributors.
Akinwunmi highlighted the Personal Pension Plan, PPP, as a tool designed to bring flexibility to pension onboarding, particularly for players in the informal sector.
She disclosed that individuals from the age of 18 are eligible to onboard, noting that the plan offers numerous benefits aimed at supporting businesses and livelihoods both during working years and in retirement.
The publisher of Inspenonline and convener of the summit, Mr. Chuks Udo Okonta, explained that the initiative was established three years ago to bridge the critical knowledge gap clouding retirement matters in Nigeria.
“When you search online for localized information on retirement matters, you hardly find comprehensive data. There is a lack of serious advocacy locally, and as a media platform, we felt this is one of the ways we can deepen retirement education. We will continue this drive until every worker is fully enlightened,” Okonta said.
Also speaking at the event, the Commissioner for Insurance, Mr. Olusegun Omosehin, who was represented, urged workers to utilise the instrumentality of insurance products to secure a stable retirement.
Concurrently, the Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran—represented by the Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai, noted that the commission had enhanced and revolutionised pension administration in Nigeria through its Pension Revolution 2.0 initiative.
He disclosed that the recently rebranded Micro Pension Plan, MPP, had been strategically repositioned to offer more robust, accessible, and secure long-term financial safety nets for self-employed Nigerians and informal sector workers.
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