Agusto & Co’s 2025 Asset Management report focuses on the activities of non-pension asset management companies in Nigeria, as well as the various products available in this space. The Securities and Exchange Commission (SEC) regulates the non-pension market, which comprises over 208 operators across traditional asset management, trusteeship, private equity and insurance-linked structures. The Nigerian asset management industry recorded another year of exceptional growth in 2025, with total assets under management (AuM) rising by 63.4% to an estimated ₦16.5 trillion, from ₦10.1 trillion in the prior year. The expansion was supported by improving macroeconomic stability, moderating inflation, relative exchange rate stability and sustained investor confidence. In addition, increased adoption of digital investment platforms, rising retail participation and continued institutional demand for professionally managed investment solutions contributed to the industry’s strong performance.
The industry’s product offerings remain broadly classified into three key segments: Collective Investment Schemes (CISs), Segregated Portfolios and Alternatives. CISs, also known as mutual funds, are investment vehicles through which clients’ funds are pooled and managed collectively. Segregated portfolios consist of privately managed discretionary and non-discretionary client funds, while alternatives include non-traditional assets such as real estate investment trusts (REITs), private equity and infrastructure funds. Segregated portfolios remained the largest segment of the industry by AuM, accounting for about 52.0% of total assets, even as their share moderated from the previous year. CISs, however, recorded the fastest growth, with AuM rising by 92.0% year-on-year to ₦7.2 trillion and accounting for 43.0% of industry assets as investors increasingly sought accessible, yield-oriented and digitally distributed products. Money market funds remained the dominant CIS category, while dollar-denominated funds continued to attract investors seeking currency protection.
Looking ahead, Agusto & Co expects the industry to sustain growth in 2026, although at a more moderate pace as interest rates begin to ease and fixed-income yields compress. This should encourage a gradual shift toward equities, infrastructure and alternative assets as investors search for real returns. However, inflation, currency volatility, fiscal pressures and higher capital requirements remain key risks that could temper growth prospects.
The following audience has been taken into consideration in compiling the report:
This report provides useful insights into various aspects of the Nigerian Asset Management Industry. Key benefits of the report include:
