• Companies
  • Updated: March 30, 2023

Premium Pension Limited Records N10 Billion Revenue

Premium Pension Limited Records N10 Billion Revenue

Premium Pension Limited, one of the leading Pension Fund Administrators in Nigeria, has recorded an 18.34 per cent increase in revenue from N8.483 billion in 2021 to N10.039 billion in 2022.

The growth in revenue has resulted in a Profit Before Tax (PBT) of N3.988 billion, which indicates a 32.99 per cent increase when compared to what was recorded in the previous year, while Profit After Tax (PAT) stood at N2.654 billion, representing 35.51 per cent above previous year levels.

The chairman of the Board of Directors of Premium Pension Limited, Ibrahim Alhassan Babayo, made the disclosure at the 18th Annual General Meeting (AGM) of the company held at its corporate head office in Abuja.

Babayo in his address to shareholders said the total number of retirement Savings Account Holders (RSAs) registered in both the public and private sector organisations as of December 31, 2022, stood at 774,235 representing 7.85 per cent of the industry count of 9,862,129.

The company paid a total dividend of N2.65 kobo amounting to N1.740 billion, representing N1.20 kobo interim and N1.45 kobo final dividends of N788.14 million and N952.833 million respectively.

The chairman also informed shareholders that this dividend represents the 15th consecutive year in which the company has paid dividends.

“Today, we celebrate a significant milestone of attaining over N1 trillion Assets under Management (AuM), a momentous achievement that demonstrates our resilience, innovation and commitment."

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