Micro-Pension Schemes, Education and Economic Security: A Statistical Analysis of Social Protection and Sustainable Livelihoods in Nigeria
Keywords:
micro-pension, education, financial literacy, economic security, social protection, sustainable livelihoods, informal economy, NigeriaAbstract
Micro-pension schemes have emerged as an important instrument for extending social protection to workers whose livelihoods fall outside conventional employer-based pension arrangements. In Nigeria, the significance of such schemes is heightened by the large size of the informal economy, irregular incomes, limited retirement protection and persistent household economic vulnerability. This study examines the relationship between micro-pension participation, education, economic security and sustainable livelihoods in Nigeria, using statistical evidence from national and international datasets and pension-industry reports. The study adopts a quantitative secondary-data design and employs descriptive statistics, trend analysis, percentage changes, ratios and comparative analysis. Evidence from the International Labour Organization, World Bank, EFInA, National Bureau of Statistics, Federal Ministry of Education and National Pension Commission is complemented by comparative evidence from the United Kingdom, Germany, Kenya, Ghana and South Africa. Findings show that pension participation is substantially higher in countries with stronger institutional arrangements and financial-education mechanisms, while coverage of informal workers remains a major challenge in Sub-Saharan Africa. In Nigeria, Micro-Pension participation increased from 76,588 contributors in 2022 to 215,914 registered participants by September 2025, representing an increase of approximately 181.9%. However, the scale of participation remains small relative to the informal workforce. The study argues that education, particularly financial literacy and pension awareness, should be treated as an economic capability that can improve long-term saving behaviour, retirement preparedness and livelihood resilience. It recommends stronger integration of financial education, pension inclusion, digital financial services and social-protection policy.
