Premium Pension asset rises to N1.24trn in FY

Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria has grown its Asset Under Management (AUM) by N210.73 billion to N1.344 trillion at the end of 2024 financial year.

AUM the company said grew by 18.58 percent year-on-year despite global economic uncertainties.

Bitrus Kwaji, retired major general and chairman of the board made the disclosure at its 20th Annual General Meeting (AGM) held at its head office complex in Abuja.

The event, attended by distinguished shareholders, esteemed board members, regulatory authorities, and other valued stakeholders, highlighted the company’s remarkable achievements, resilience, and strategic vision for the future.

“This occasion is a testament to our resilience, dedication, and commitment to providing exceptional pension fund administration services to millions of Nigerians. Over the years, we have grown into one of the most trusted PFAs in the industry, prioritizing professionalism, transparency, and superior customer service,” he stated.

Kwaji also noted that revenue growth increased by 19.66 percent, amounting to N13.93 billion, while Profit Before Tax (PBT) rose by 23.14 percent to N5.635 billion, just as Profit After Tax (PAT) stood at N3.552 billion.

Shareholders got a final dividend of N2.20 per share, amounting to N1.446 billion, in addition to the N2.06 per share interim dividend already paid.

The Company’s registered retirement saving account holders reached 818,199 at the end of 2024, accounting for 7.71 percent of the industry total.

2024 also saw key leadership transitions to drive the company towards greater achievements. Following an internal review, the Executive Management team was restructured, leading to the appointment of Hamisu Bala Idris as the new managing director/CEO in August 2024.

Additionally, Maryam L. Mohammed and Ibrahim B. Boyi joined as executive director of Operations and Services and executive director of Business Development (North) and Strategy, respectively.

These appointments underscore Premium Pension’s commitment to strong leadership and strategic repositioning, looking ahead, the Company plans to embark on its next phase as the company remains focused on growth, innovation, and delivering superior value to its stakeholders.

Premium Pension Limited is a top-tier Pension Fund Administrator in Nigeria, committed to delivering secure and efficient pension management solutions. With a legacy of Discipline, Empathy, professionalism, and trust, the company continues to set industry benchmarks and contribute to Nigeria’s economic growth.