The NGX Pension Broad Index emerged as the best-performing benchmark on the Nigerian Exchange in 2025, delivering a return of 59.72 per cent and outperforming the broader market. The index, which tracks pension-compliant equities, closed the year at 2,917.84 points, up from 1,826.89 points at the end of 2024, according to data released by the Exchange.
By comparison, the NGX All-Share Index gained 51.19 per cent over the same period, underscoring the stronger showing of stocks eligible for pension fund investment. The performance gap of more than 850 basis points highlights the growing relevance of pension-focused equities in Nigeria’s evolving capital market landscape.
The Pension Broad Index comprises companies that meet investment eligibility requirements set by the National Pension Commission (PenCom). As a result, it serves as a key benchmark for Pension Fund Administrators (PFAs) seeking to balance regulatory compliance with competitive, long-term returns for contributors.
Analysts attributed the index’s strong showing to its diversified sectoral exposure, spanning financial services, telecommunications, consumer goods, industrials and energy. This broad mix helped cushion volatility and support gains during a year marked by strong market activity and improving investor confidence.
Market watchers said the performance reflects the growing influence of pension assets in Nigeria’s equity market and the value of transparent, rules-based indices in long-term portfolio construction. The Nigerian Exchange noted that it will continue working with PenCom and PFAs to expand market education, improve data analytics and develop pension-focused investment products aimed at deepening participation in the equities market.
source: punch