Broad money (current LCU), annual growth rate in Nigeria
Nigeria: Broad money (current LCU), annual growth rate was 50.92 % change on previous year in 2023. ◆ Volatile
Latest (2023)
50.92 % change on previous year
Change on year
up 192.3%
World rank
5th
of 166 countries
All-time high
89.2 % change on previous year
in 1974
All-time low
-12.66 % change on previous year
in 1967
Years of data
63
1961–2023
Broad money (current LCU), annual growth rate in Nigeria, 1961–2023
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for broad money (current lcu), annual growth rate in Nigeria is 50.92 % change on previous year, measured in 2023.
Compared with earlier readings it is up 192.3% on the previous year and up 256.0% over ten years.
Over the whole period, broad money (current lcu), annual growth rate in Nigeria peaked at 89.2 % change on previous year in 1974 and was at its lowest, -12.66 % change on previous year, in 1967.
Nigeria ranks 5th of 166 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Broad money (current LCU), annual growth rate in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1961 | 8.7 % change on previous year | — |
| 1962 | 10.93 % change on previous year | +25.7% |
| 1963 | 8.68 % change on previous year | -20.6% |
| 1964 | 19.1 % change on previous year | +120.0% |
| 1965 | 8.75 % change on previous year | -54.2% |
| 1966 | 10.95 % change on previous year | +25.1% |
| 1967 | -12.66 % change on previous year | -215.6% |
| 1968 | 15 % change on previous year | -218.5% |
| 1969 | 26.91 % change on previous year | +79.4% |
| 1970 | 47.8 % change on previous year | +77.6% |
| 1971 | 6.39 % change on previous year | -86.6% |
| 1972 | 15.58 % change on previous year | +143.7% |
| 1973 | 13.78 % change on previous year | -11.6% |
| 1974 | 89.2 % change on previous year | +547.5% |
| 1975 | 55.66 % change on previous year | -37.6% |
| 1976 | 41.45 % change on previous year | -25.5% |
| 1977 | 34.47 % change on previous year | -16.8% |
| 1978 | -2.01 % change on previous year | -105.8% |
| 1979 | 30.95 % change on previous year | -1639.6% |
| 1980 | 46.11 % change on previous year | +49.0% |
| 1981 | 5.9 % change on previous year | -87.2% |
| 1982 | 9.55 % change on previous year | +61.8% |
| 1983 | 14.02 % change on previous year | +46.9% |
| 1984 | 11.6 % change on previous year | -17.3% |
| 1985 | 8.99 % change on previous year | -22.5% |
| 1986 | 1.95 % change on previous year | -78.3% |
| 1987 | 22.41 % change on previous year | +1047.5% |
| 1988 | 32.91 % change on previous year | +46.9% |
| 1989 | 12.93 % change on previous year | -60.7% |
| 1990 | 32.7 % change on previous year | +152.9% |
| 1991 | 37.38 % change on previous year | +14.3% |
| 1992 | 63.26 % change on previous year | +69.2% |
| 1993 | 53.76 % change on previous year | -15.0% |
| 1994 | 34.5 % change on previous year | -35.8% |
| 1995 | 19.41 % change on previous year | -43.7% |
| 1996 | 16.18 % change on previous year | -16.7% |
| 1997 | 16.04 % change on previous year | -0.9% |
| 1998 | 22.32 % change on previous year | +39.1% |
| 1999 | 33.12 % change on previous year | +48.4% |
| 2000 | 48.07 % change on previous year | +45.1% |
| 2001 | 26.38 % change on previous year | -45.1% |
| 2002 | 18.82 % change on previous year | -28.6% |
| 2003 | 13.51 % change on previous year | -28.2% |
| 2004 | 20.68 % change on previous year | +53.0% |
| 2005 | 22.6 % change on previous year | +9.3% |
| 2006 | 36.35 % change on previous year | +60.8% |
| 2007 | 87.76 % change on previous year | +141.4% |
| 2008 | 42.22 % change on previous year | -51.9% |
| 2009 | 14.86 % change on previous year | -64.8% |
| 2010 | 6.72 % change on previous year | -54.8% |
| 2011 | 21.69 % change on previous year | +222.5% |
| 2012 | 27.08 % change on previous year | +24.9% |
| 2013 | 14.3 % change on previous year | -47.2% |
| 2014 | -0.7945 % change on previous year | -105.6% |
| 2015 | 4.09 % change on previous year | -614.8% |
| 2016 | 31.92 % change on previous year | +680.5% |
| 2017 | 1.39 % change on previous year | -95.7% |
| 2018 | 14.98 % change on previous year | +979.4% |
| 2019 | 6.45 % change on previous year | -57.0% |
| 2020 | 11.63 % change on previous year | +80.4% |
| 2021 | 14.24 % change on previous year | +22.4% |
| 2022 | 17.42 % change on previous year | +22.4% |
| 2023 | 50.92 % change on previous year | +192.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 10.71 % change on previous year | -12.66 % change on previous year | 26.91 % change on previous year | 9 |
| 1970s | 33.33 % change on previous year | -2.01 % change on previous year | 89.2 % change on previous year | 10 |
| 1980s | 16.64 % change on previous year | 1.95 % change on previous year | 46.11 % change on previous year | 10 |
| 1990s | 32.87 % change on previous year | 16.04 % change on previous year | 63.26 % change on previous year | 10 |
| 2000s | 33.13 % change on previous year | 13.51 % change on previous year | 87.76 % change on previous year | 10 |
| 2010s | 12.78 % change on previous year | -0.7945 % change on previous year | 31.92 % change on previous year | 10 |
| 2020s | 23.55 % change on previous year | 11.63 % change on previous year | 50.92 % change on previous year | 4 |
Countries ranked near Nigeria
- 2 Somalia 162.81 % change on previous year compare
- 3 Sudan 87.99 % change on previous year compare
- 4 Venezuela, Bolivarian Republic of 58.84 % change on previous year compare
- 6 Tajikistan 50.64 % change on previous year compare
- 7 Malawi 45.13 % change on previous year compare
- 8 Argentina 44.85 % change on previous year compare
More financial sector data for Nigeria
- Net domestic credit (current LCU), per capita 296,323 current LCU per person (2022)
- Net domestic credit (current LCU), per unit of GDP 102.21 current LCU per US$ of GDP (2022)
- Net domestic credit (current LCU), annual growth rate 35.83 % change on previous year (2022)
- Gold reserves at 35 SDRs per ounce 24.13 million SDR (2025)
- Gold reserves at market value 2.20 billion SDR (2025)
- Reserves excluding gold, foreign exchange 28.09 billion SDR (2025)
- Reserves excluding gold 31.41 billion SDR (2025)
- Total reserves (gold at market value) 33.61 billion SDR (2025)
- Total reserves (gold at national valuation) 33.58 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
Frequently asked questions
- What is broad money (current lcu), annual growth rate in Nigeria?
- Broad money (current lcu), annual growth rate in Nigeria was 50.92 % change on previous year in 2023, according to Statizoid (derived).
- What is the highest broad money (current lcu), annual growth rate recorded in Nigeria?
- The highest recorded value was 89.2 % change on previous year in 1974.
- What is the lowest broad money (current lcu), annual growth rate recorded in Nigeria?
- The lowest recorded value was -12.66 % change on previous year in 1967.
- How does Nigeria rank for broad money (current lcu), annual growth rate?
- Nigeria ranks 5th out of 166 countries with data for 2023.
- Is broad money (current lcu), annual growth rate rising or falling in Nigeria?
- Over the last ten years it is up 256.0%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of Broad money (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 63 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Broad money (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Broad money International Financial Statistics database, International Monetary Fund (IMF)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Broad money (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.