Nigerian Journal Sustainability Research

Publications

Vol. 1 No. 1 (2023): Sustainability Research

Pension Fund Assets and the Nigerian Economy

Submitted
October 25, 2023
Published
2023-11-07

Abstract

The study examined impact of contributory pension fund assets on Nigeria economy. The specific objectives were to ascertain the impact of private sector pension contribution on gross domestic product in Nigeria and to determine the influence of public sector pension contribution on gross domestic product in Nigeria. The study period covered from 2004 to 2020. The stated hypotheses were analyzed with unit root test, descriptive statistic and multiple regression. The finding of the study revealed that private sector pension contribution LOG(PRSP) has positive and insignificant impact on gross domestic product in Nigeria and that public sector pension contribution LOG (PUSP) has positive and insignificant impact on gross domestic product in Nigeria. It was recommended PenCom should ensure effective monitoring, supervision and enforcement of the provision of the PRA 2004, which are the inevitable ingredients in the private sector pension contribution towards Gross Domestic Product (GDP).

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