The Nigeria Police Force Pensions Limited is considering investment opportunities in Dangote Petroleum Refinery and Petrochemicals as part of efforts to diversify its portfolio and sustain returns for police personnel and retirees.

The Acting Managing Director of NPF Pensions, Muhammed Dutse, disclosed this in Abuja on Monday during activities marking the 2026 Customer Service Week.

Dutse said the pension fund administrator was exploring alternative investment opportunities as declining interest rates could affect returns from traditional fixed-income and bank instruments.

“As you can see recently, there’s a lot of hype around Dangote Petroleum Refinery and Petrochemicals. So, we also look up to that as well,” he said.

He explained that the company’s investment strategy would combine equities with private equity, infrastructure funds and other alternative assets rather than depend heavily on returns from bank deposits.

“There are private equity funds, there are infrastructure funds, there are so many investment windows, alternative investments that we can harness to get good returns,” Dutse said.

He added that the company was also assessing opportunities in the stock market, including shares of large Nigerian companies, as part of efforts to protect pension assets and generate competitive returns.

The comments come amid growing interest in investment opportunities around the Dangote refinery, following moves to broaden ownership of the multibillion-dollar facility.

Dutse said the diversification strategy had become particularly important following changes in the Central Bank of Nigeria’s monetary policy stance, which could affect yields available to pension fund administrators.

According to him, NPF Pensions would increasingly consider opportunities in infrastructure, private equity and the energy sector to strengthen its investment position.

He stated, “Our strategy is a combination of all these instruments in place. We just don’t rely on what banks give us.

“The good thing about this government is that they have opened up opportunities for investment. So, you see a lot of investment opportunities springing up, like I mentioned earlier, infrastructure funds, private equity funds and, especially, in the areas of energy.”

Dutse said NPF Pensions had recorded an average annual return of about 23 to 24 per cent over the past five years, with returns approaching 37 per cent in one of the years.

He said the PFA had developed strategies aimed at maintaining its investment performance despite changes in financial market conditions.

“Clearly, we have worked out some strategies to ensure that we maintain this particular rate of return on our investments, which, of course, is yielding positive returns to all our clients,” he stated.

Beyond investments, Dutse acknowledged concerns among retired police officers about pension benefits, saying the Federal Government was working on measures to improve retirees’ take-home pay.

He said a presidential committee was already considering the matter.

“Currently, there is an attempt by the Federal Government — it’s in fact in the process — and we have been working to ensure that the pay, the take-home pay of retirees, is improved,” he said.

Dutse also said the company operates a Retirement Resettlement Support Scheme to provide temporary support to retiring police officers pending the release of their pension benefits, while pre-retirement programmes expose officers to businesses and skills such as poultry farming.

On customer service, he said NPF Pensions had expanded direct engagement with contributors and introduced a WhatsApp Business platform, which had attracted nearly 100,000 police officers.

He said the digital platform was designed to allow officers to access pension services remotely without having to visit NPF Pensions offices.