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% |
Nigeria compared with similar countries
- Nigeria's 50.92 % change on previous year is above the median for lower middle income countries, which is 11.42 % change on previous year, 4.5× the median. (46 countries reporting)
- Nigeria's 50.92 % change on previous year is above the median for Sub-Saharan Africa, which is 13.12 % change on previous year, 3.9× the median. (48 countries reporting)
Biggest year-on-year movements
Years where Broad money (current LCU), annual growth rate in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1979 | +1639.6% | -2.01 % change on previous year | 30.95 % change on previous year |
| 1987 | +1047.5% | 1.95 % change on previous year | 22.41 % change on previous year |
| 2018 | +979.4% | 1.39 % change on previous year | 14.98 % change on previous year |
| 2016 | +680.5% | 4.09 % change on previous year | 31.92 % change on previous year |
| 2015 | +614.8% | -0.7945 % change on previous year | 4.09 % change on previous year |
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 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
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (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.