Retirement Savings Account (RSA) Membership Distribution (Q2 2017)
The retirement savings account (RSA) membership distribution data for Q2 2017 reflected that 7,589,936 workers are registered under the pension scheme compared to 7,493,590 registered workers in Q1 2017 out of a total working population of 69,470,901 (data for Q2 2017 will be updated as soon as it is available) recorded as at Q4 2016. This represents 10.93% of the total working population. This is not surprising given the largely informal structure of the Nigerian labour force with about 50% of the current workforce engaged in subsistence agriculture and informal trading. Micro businesses for example account for over 90% of total Micro, Small and Medium Scale Enterprises in Nigeria.
Date source: National Bureau of Statistics