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Stakeholders at the 2026 Inspenonline Retirement Summit advised workers in both formal and informal sectors of the economy to strategically plan their retirement using multiple available windows.
While advocating an increase in subscriptions to insurance and pension products, experts at the event in Lagos, urged Nigerians to start retirement planning early in their career journey to ensure a comfortable life after active service.
The Chairman of STI Leasing Limited, Tom Ogboi, applauded the organizers of the summit, calling for greater awareness on how workers can enjoy life after retirement.
Sharing his personal experience, Ogboi revealed that he retired back in 2002 and was able to enjoy his retirement doing what he loves thanks to strategic planning.
He emphasized that preparation for this stage of life must be intentional for every worker.
Likewise, the Chief Executive Officer (CEO) of the Center for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, lamented the current plight of pensioners in Nigeria.
He noted that many former workers who dedicated their active years to service are now suffering due to systemic collapse and poor retirement awareness.
To mitigate this problem, Yusuf has advocated for the creation of a specialized government agency with responsibility for: Raising public awareness and support.
Promote enlightenment and education on pension issues.
Ensure that workers actively structure their retirement plans while still on active duty.
Addressing the gathering, Olajumoke Akinwunmi, Head of Media, Brand and Communications at the Association of Pension Fund Operators of Nigeria (PenOp), said the pension sector has evolved significantly to ensure that pensioners receive their benefits as and when due.
He added that pension fund assets have grown steadily, producing strong investment returns to deliver value to taxpayers.
Akinwunmi highlighted the Personal Pension Plan (PPP) as a tool designed to bring flexibility to pension onboarding, particularly for informal sector workers.
He revealed that people over the age of 18 are eligible to come on board, noting that the plan offers numerous benefits aimed at supporting businesses and livelihoods during both working years and retirement.
*Inspenonline* editor and convener of the summit, Chuks Udo Okonta, explained that the initiative was established three years ago to address the critical knowledge gap clouding pension issues in Nigeria.
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“When you search online for localized information on pension issues, you are unlikely to find comprehensive data. There is a lack of serious support at the local level, and as a media platform, we believe this is one of the ways we can deepen pension education. We will continue this push until every worker is fully enlightened,” Okonta said.
Also speaking at the event, the Commissioner for Insurance, Olusegun Omosehin, who was present on behalf, urged workers to use insurance products to ensure a stable pension.
At the same time, the Director General of the National Pensions Commission (PenCom), Omolola Oloworaran, represented by PenCom Head of Corporate Communications, Ibrahim Buwai, noted that the commission has improved and revolutionized pension administration in Nigeria through its Pension Revolution 2.0 initiative.
He revealed that the newly rebranded Micro Pension Plan (MPP) has been strategically repositioned to offer more robust, accessible and secure long-term financial safety nets for self-employed Nigerians and informal sector workers.
Photo caption: Left: Idu Okwuosa-Okeahialam, Group Managing Director/CEO, Royal Exchange Plc; Ibrahim Buwai, Corporate Communications Officer/Director General Representative, National Pensions Commission; Tom Ogboi, President, STI Leasing Ltd/Occasion Chairman; Julius Odidi, Head, NAICOM Lagos Control Office, and Chuks Udo Okonta, Editor, Inspenonline/Promoter Retirement Summit during the Inspenonline Retirement Summit 2026, in Lagos, on Wednesday
