The Federal Government has announced plans to finance 5,000 kilometres of roads using pension funds through institutional investments.Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed the initiative during an online chat with journalists.He described the plan as part of broader efforts to stimulate economic growth through private-sector participation in infrastructure projects.But some Experts expressed fears over issues of transparency and accountability, stressing that using pension savings for infrastructure projects with unclear oversight mechanisms may spell doom. Adding that the nation has a track record of financial mismanagement, contract inflation, and abandoned projects which according to them heightens scrutiny of the initiative.They asked government to provide details on specific highways earmarked for construction under this financing arrangement. Noting that without a clear project list, tracking expenditures and assessing progress will be challenging.Earlier, the National Pension Commission (PenCom) has warned against using pension savings for high-risk infrastructure investments. They cautioned that retirees’ benefits could be jeopardised without stringent safeguards if projects underperform or funds are misallocated. However , government officials insist that private-sector involvement will mitigate financial risks for pension contributors.Reports gathered said that transparency advocates demand comprehensive details on project selection, execution frameworks, and accountability measures before pension funds are deployed. They stressed that with Nigeria’s history of financial mismanagement, stronger oversight to prevent misallocation or misuse of retiree savings.They insisted that as inflationary pressures persist and economic challenges remain, the initiative requires greater scrutiny to protect pensioners’ financial security.
