Stakeholders urge workers on strategic retirement at at Inspenonline Retirement Summit

*Stakeholders at the 2026 Inspenonline Retirement Summit, in Lagos, urge workers in the formal and informal sectors of the Nigerian economy to strategically plan their retirement, utilising multiple available windows

Alexander Davis | ConsumerConnect

Stakeholders at the 2026 Inspenonline Retirement Summit have advised workers across both the formal and informal sectors of the Nigerian economy to strategically plan their retirement, utilising multiple available windows.

Advocating an increased subscription to insurance and pension products, industry experts at the event in Lagos, urged Nigerians to initiate retirement planning early in their career paths to ensure a comfortable life after active service.

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Mr. Tom Ogboi, Chairman of STI Leasing Limited  applauded the organisers of the summit, urging heightened sensitisation on how workers can enjoy life post-retirement.

Sharing his personal experience, Ogboi disclosed that he retired as far back as 2002 and has been able to enjoy his retirement doing what he loves due to strategic planning.

He emphasised that preparing for this phase of life must be intentional for every worker.

Likewise, Dr. Muda Yusuf, Chief Executive Officer (CEO) of the Centre for the Promotion of Private Enterprise (CPPE) lamented the current plight of retirees in  Nigeria.

Yusuf noted that several ex-workers, who dedicated their active years to service are now suffering due to systemic collapse and low retirement awareness.

However, in order to mitigate this, Yusuf advocated for the creation of a specialised government agency saddled with the responsibility of:Increasing public awareness and advocacy.

Driving enlightenment and education on retirement matters.

Ensuring workers actively structure their retirement plans while still in active service.

Olajumoke Akinwunmi, Media, Branding, and Communications Lead at the Pension Fund Operators Association of Nigeria (PenOp), speaking at the gathering, the stated that the pension industry has evolved significantly to ensure retirees receive their benefits as and when due.

Akinwunmi said pension fund assets had grown consistently, yielding strong investment returns to deliver value to contributors.

Akinwunmi highlighted the Personal Pension Plan (PPP) as a tool designed to bring flexibility to pension onboarding, particularly for players in the informal sector.

She equally disclosed that individuals from the age of 18 are eligible to onboard, noting that the plan offers numerous benefits aimed at supporting businesses and livelihoods both during working years and in retirement.

Mr. Chuks Udo Okonta, Publisher of Inspenonline and Convener of the Summit, explained that the initiative was established three years ago to bridge the critical knowledge gap clouding retirement matters in the country.

Okonta stated: “When you search online for localized information on retirement matters, you hardly find comprehensive data. “There is a lack of serious advocacy locally, and as a media platform, we felt this is one of the ways we can deepen retirement education.

“We will continue this drive until every worker is fully enlightened.”

In his contribution at the summit, Mr. Olusegun Omosehin, Commissioner for Insurance, who was represented at the event, urged workers to utilise the instrumentality of insurance products to secure a stable retirement.

Concurrently, Ms. Omolola Oloworaran, Director-General of the National Pension Commission (PenCom), represented by the Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai, noted that the Commission has enhanced and revolutionised pension administration in Nigeria through its Pension Revolution 2.0 initiative.

He disclosed that the recently 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.

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