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PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA

Authors: NWAOBIA Apollos

Publication Type: Journal article

Journal: International Journal Of Creative Research Thoughts

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Abstract

Economic growth is a very crucial policy goal of any government and this also applies to every government administration in the modern society and global economy. Much funds are accumulated through the contributory pension scheme, which if well managed can create wealth and increase real output of the country. However, prudent management and investment of these funds by the pension fund administrators and custodians as well as effective regulation by pension fund regulator to create wealth and for real economic benefit (economic growth) of Nigeria has been a growing concern. This study evaluated the impact of pension fund investment in Federal Government Securities (FGNS) on Economic Growth represented by Gross Domestic Products (GDP) of Nigeria. The study employed ex-post facto research design. The population of the study comprised 31 pension fund operators being regulated by Nigeria Pension Commission (PENCOM) as at 31st December 2019. The study adopted total enumeration method. Secondary data obtained from the quarterly published reports of PENCOM and National Bureau of Statistics (NBS) for the period 2010 – 2019 were used. The data were analyzed using trend analysis, descriptive and inferential statistics employing regression analysis. The findings revealed that pension fund investment in Federal Government Securities (FGNS) had significant and positive effect on Gross Domestic Product (GDP). The study therefore concluded that pension fund investment in Federal Government Securities (FGNS) has the capacity to contribute to the economic growth of Nigeria and therefore recommended the investment of more pension funds in FGNS

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NWAOBIA,A. . (2021). PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA, 9 (), 1534-1534.

NWAOBIA,A. . "PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA" 9, no (), (2021): 1534-1534.

NWAOBIA,A. and . (2021). PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA, 9 (), pp1534-1534.

NWAOBIAA, . PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA. 2021, 9 ():1534-1534.

NWAOBIA,Apollos , . "PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA", 9 . (2021) : 1534-1534.

N.Apollos , "PENSION FUND INVESTMENT IN FEDERAL GOVERNMENT SECURITIES AND ECONOMIC GROWTH OF NIGERIA" vol.9, no., pp. 1534-1534, 2021.

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