Nigeria: Personal Pension Plan to Change Face of Small Businesses - Leadway

24 March 2026
Vanguard (Lagos)
By Rosemary Iwunze

Leadway Pensure PFA Limited, one of Nigeria's leading pension fund administrators, has said that 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.

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."

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