Bridging Public Infrastructure-Finance Gap in Ondo State, Nigeria Does Pension Fund Matter?

Main Article Content

O. Olayemi Simok-Oke
Alaba Ogunbameru
J. Imisi


The need to change from the budgetary appropriation method of financing public infrastructure, coupled with dwindling crude oil resources and paucity of funds had necessitated the action of government at all levels to look for alternative sources of financing public infrastructure. This study therefore ascertained the availability and suitability of pension fund in bridging public infrastructure- finance gap in Ondo State, Nigeria. The study adopted a survey design, with questionnaire and interview method as instruments of data collection. The data collected were analyzed using descriptive and inferential statistics such as Relative Importance Index (RII), Frequency Distribution Table and Analysis of Variance (ANOVA). The findings from the study revealed Pension Fund as suitable, but failed the availability test in relation to other options for bridging infrastructure- finance gap in Ondo State. It was concluded that although pension fund appeared to be suitable if available, but its non-availability makes it difficult to contribute to addressing the challenge of bridging the public infrastructure-finance gap in Ondo state.

Article Details



Aganga, O. (2011).Pension Funds Investment in Infrastructural Development in Nigeria, Online report; published on January 17, 2011.Accessed on 20/01/2016.

Asekunowo, V.O. (2006). Funding Contributory Pension Scheme, Financial deepening and Economic Growth: What Does Evidence Say so far about the Nigerian Economy? CBN Bullion, 33(4)

Balogun, A. (2006).Understanding the new Pension Reform Acts (PRA) 2004.CBN Bullion 3 (2).

Belt, B.D. & Nimno, J. (2013). Catalyzing Pension Fund Investment in the Nation's Infrastructure: A Round Table Discussion; Milken Institute, April, 2013

Domar, E. (1946). “Capital Expansion, Rate of Growth, and Employment”.Econometrica.14 (2):137-147.

Gunu, U. & Tsado, E. (2012). Contributory Pension System as a Tool for Economic Growth in Nigeria. International Journal of Business and Behavioral Sciences Volume 2, Number 8, 6-13.

Harrod, R.F. (1939). “An Essay in Dynamic Theory”. The Economic Journal. 49 (193):14-33.

Mohammed, S. F. (2011), Exploiting Public-Private Partnership as a tool for Infrastructure development in Nigeria. CBN Bullion, volume 35 Number 2, 3-10.

National Pension Commission (PENCOM). Monthly, Quarterly and Annual report and Annual Accounts (2007 – 2013). on 15/12/2015.

Njuguna, A.G. (2010). Strategies to Improve Pension Fund Efficiency in Kenya; An Unpublished Thesis of Nelson Mandela Metropolitan University, Port Elizabeth.

Oladejo, O. (2016). “Pension Funds as a Tool for Institutional Development in Nigeria”. An Overview of the Rule on Investment of Pension Funds in Infrastructural Development, Advocate Law practice. The Service Room, 3rd Floor Law Union House, 14, Hughes Avenue, Yaba, Lagos, Nigeria.

Oteh, A. (2010). Capital Market as a long term option for financing infrastructure development. A paper Delivered at the Central Bank of Nigeria Infrastructure finance conference, Sheraton Hotel and Towers, Abuja.

Oyedele T. (2014). Pension reform Act 2014; the good, the bad and the ugly. on 15/12/2015.

Shendy, R., Kaplan, Z & Mousley P. (2011). Toward Better Infrastructure Conditions, Constraints and Opportunities in Financing Publics-Private Partnerships. The World Bank PPIAF, 1818 H Street NW Washington DC 20433.

Simon-Oke, O.O. & Ogunbameru, A (2016). Public-Private Participation: A new Order of Financing Public Infrastructure Development in Ondo State, Nigeria. Journal of Economics and Finance (IOSR-JEF), Volume 7, Issue 4. Ver. IV, 41-47.

Tule, M. K. (2015). “Leveraging Pension Funds for Financing Infrastructural Development in Nigeria”, CBN Working Paper Series, Central Bank of Nigeria, CBN/WPS/01/2015/04, September, 2015.

Todaro, M.P. & Smith, S.C. (2009). Economic Development. Pearson Education Limited, England, Edinburgh Gate