With headline inflation at 24.23% in March 2025 and food, transport and energy costs still climbing, many Nigerians find their monthly budgets stretched to the limit.
Against this backdrop, we see roughly 38,000 pension accounts tapping the 25% withdrawal option each year—letting them pull a quarter of their RSA if they lose their jobs.
Although the number of withdrawals has hovered around 38,000 since 2019, the cash taken has climbed from about ₦19.1B in 2019 to ₦35.5B in 2023. In just Q1–Q3 2024, the 23,673 withdrawals already total ₦33.4B, nearly matching the previous year’s full-year haul.
