Abuja: The Board Chair of Enhancing Financial Inclusion and Advancement (EFInA), Dr Agnes Martins, has urged stakeholders to ensure that financial access creates opportunities and economic empowerment. Martins made the call at the inauguration of the 2026 Access to Financial Services in Nigeria (A2F) survey report in Abuja on Wednesday. The programme was themed, ‘Access, Opportunity, Growth: Advancing Financial and Economic Inclusion for All Nigerians’. Martins mentioned that the survey reflected Nigeria’s next phase of financial inclusion, focusing on access, opportunity, and growth. EFInA collaborated with government, regulators, financial institutions, and development partners to address barriers and strengthen inclusive markets.
According to News Agency of Nigeria, the A2F survey has provided nationally representative evidence since 2008, capturing Nigerians’ experiences with financial services. Martins emphasized that EFInA’s 2024-2029 strategy is focused on ensuring that Nigerians are financially inclu
ded and economically empowered, with greater emphasis on usage, quality, and impact. “Access is only the beginning of the journey. It is not the destination,” she said. Martins urged stakeholders to assess whether financial participation expanded opportunities and helped households and businesses manage their finances. The 2026 survey is timely, given changes in the country’s economy, digital channels, and the financial services landscape since 2023.
Martins highlighted that Nigerians have diverse needs based on income, gender, location, age, and economic activity, cautioning against policies designed for an ‘average’ consumer. “The evidence must help us understand not only where the gaps are, but what is driving them,” she stated. Martins urged policymakers, regulators, financial service providers, governments, and development partners to use the findings to guide policies, products, and investments. She concluded that the ultimate goal was for financial access to create opportunities and support economic a
dvancement. Martins commended the Central Bank of Nigeria (CBN), National Bureau of Statistics, development partners, financial institutions, the EFInA team, and Nigerians who participated in the survey. The next phase of financial inclusion should be measured not only by access but by the opportunities and growth it enables.
The Director-General of the National Pension Commission (PenCom), Ms Omolola Oloworaran, highlighted the need for deeper pension inclusion through the A2F survey. Oloworaran pointed out that financial inclusion should focus on improving lives, resilience, security, and well-being, rather than merely opening accounts. She noted an increase in pension participation from 7.8 per cent of adults in 2023 to 9.1 per cent in 2026. However, about nine in every 10 Nigerian adults remain outside formal pension arrangements. Oloworaran identified several groups needing greater pension coverage, including traders, farmers, mechanics, drivers, tailors, hairdressers, and digital workers.
She mentione
d that PenCom is committed to expanding pension coverage through the Personal Pension Plan (PPP) and urged stakeholders to develop a dedicated pension inclusion model showing what could encourage Nigerians to start and sustain pension savings. The PenCom Director-General also called for a pension inclusion map capturing exclusion by geography, gender, age, occupation, and income. According to her, such data will help identify why pension gaps persist and guide effective policy interventions. Oloworaran further urged stakeholders to test innovative approaches, including digital onboarding, accredited pension agents, and transaction-based savings. She emphasized that the matching incentives and behavioral approaches should also be tested among Nigerians and independently evaluated. “Opening a pension account is not by itself pension inclusion,” she remarked.
She pointed out that an unfunded pension account could not provide adequate retirement security. Oloworaran explained that the true measure of pension inc
lusion was consistent savings and sufficient accumulation for retirement. She stated that the value of the A2F survey would ultimately depend on changes resulting from its findings. The Director-General expressed determination in ensuring that every working Nigerian could build a pension easily and affordably. She suggested that pension products should reflect the different ways Nigerians earn income. Collaboration among government, PenCom, pension operators, technology providers, and researchers could expand retirement security for millions.