Oguche Agudah, Chief Executive Officer of the Pension Fund Operators Association of Nigeria (PenOp), says 8,408 Retirement Savings Account (RSA) holders accessed N39.86 billion for residential mortgages in the first quarter (Q1) of 2025.
Speaking to NAN in Lagos, Agudah noted that only 1,390 RSA contributors had accessed N10.52 billion for mortgages in Q1 2024, reflecting a 279% increase in disbursement value and a 505% rise in the number of beneficiaries year-on-year.
Compared to the fourth quarter of 2024, when 2,491 beneficiaries accessed N18 billion, the first-quarter figures represent a 32% increase in value and an 18% rise in beneficiaries.
Agudah attributed the growth to greater awareness of the policy, improved access through pension fund administrators, and rising demand for affordable housing. “More Nigerians are realising that their pensions are not only a retirement safety net but also a powerful tool to unlock home ownership today,” he said.
He added that the contributory pension scheme is creating real impact, helping people secure homes, build financial stability, and strengthen inclusion across Nigeria.
