Broad money in Nigeria
Nigeria: Broad money was 78.76 trillion current LCU in 2023. ◆ Volatile
Latest (2023)
78.76 trillion current LCU
Change on year
up 50.9%
World rank
16th
of 167 countries
All-time high
78.76 trillion current LCU
in 2023
All-time low
276.00 million current LCU
in 1960
Years of data
64
1960–2023
Broad money in Nigeria, 1960–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Nigeria recorded 78.76 trillion current LCU for broad money in 2023. That is the highest value across all 64 years on record.
That represents a change of up 50.9% on the previous year and up 282.1% over ten years.
Over the whole period, broad money in Nigeria peaked at 78.76 trillion current LCU in 2023 and was at its lowest, 276.00 million current LCU, in 1960.
Nigeria ranks 16th of 167 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 in Nigeria, year by year
| Year | current LCU | Change |
|---|---|---|
| 1960 | 276.00 million current LCU | — |
| 1961 | 300.00 million current LCU | +8.7% |
| 1962 | 332.80 million current LCU | +10.9% |
| 1963 | 361.70 million current LCU | +8.7% |
| 1964 | 430.80 million current LCU | +19.1% |
| 1965 | 468.50 million current LCU | +8.8% |
| 1966 | 519.80 million current LCU | +10.9% |
| 1967 | 454.00 million current LCU | -12.7% |
| 1968 | 522.10 million current LCU | +15.0% |
| 1969 | 662.60 million current LCU | +26.9% |
| 1970 | 979.30 million current LCU | +47.8% |
| 1971 | 1.04 billion current LCU | +6.4% |
| 1972 | 1.20 billion current LCU | +15.6% |
| 1973 | 1.37 billion current LCU | +13.8% |
| 1974 | 2.59 billion current LCU | +89.2% |
| 1975 | 4.04 billion current LCU | +55.7% |
| 1976 | 5.71 billion current LCU | +41.5% |
| 1977 | 7.68 billion current LCU | +34.5% |
| 1978 | 7.52 billion current LCU | -2.0% |
| 1979 | 9.85 billion current LCU | +31.0% |
| 1980 | 14.39 billion current LCU | +46.1% |
| 1981 | 15.24 billion current LCU | +5.9% |
| 1982 | 16.69 billion current LCU | +9.5% |
| 1983 | 19.03 billion current LCU | +14.0% |
| 1984 | 21.24 billion current LCU | +11.6% |
| 1985 | 23.15 billion current LCU | +9.0% |
| 1986 | 23.61 billion current LCU | +2.0% |
| 1987 | 28.90 billion current LCU | +22.4% |
| 1988 | 38.41 billion current LCU | +32.9% |
| 1989 | 43.37 billion current LCU | +12.9% |
| 1990 | 57.55 billion current LCU | +32.7% |
| 1991 | 79.07 billion current LCU | +37.4% |
| 1992 | 129.09 billion current LCU | +63.3% |
| 1993 | 198.48 billion current LCU | +53.8% |
| 1994 | 266.94 billion current LCU | +34.5% |
| 1995 | 318.76 billion current LCU | +19.4% |
| 1996 | 370.33 billion current LCU | +16.2% |
| 1997 | 429.73 billion current LCU | +16.0% |
| 1998 | 525.64 billion current LCU | +22.3% |
| 1999 | 699.73 billion current LCU | +33.1% |
| 2000 | 1.04 trillion current LCU | +48.1% |
| 2001 | 1.31 trillion current LCU | +26.4% |
| 2002 | 1.56 trillion current LCU | +18.8% |
| 2003 | 1.77 trillion current LCU | +13.5% |
| 2004 | 2.13 trillion current LCU | +20.7% |
| 2005 | 2.61 trillion current LCU | +22.6% |
| 2006 | 3.56 trillion current LCU | +36.4% |
| 2007 | 6.69 trillion current LCU | +87.8% |
| 2008 | 9.51 trillion current LCU | +42.2% |
| 2009 | 10.93 trillion current LCU | +14.9% |
| 2010 | 11.66 trillion current LCU | +6.7% |
| 2011 | 14.19 trillion current LCU | +21.7% |
| 2012 | 18.04 trillion current LCU | +27.1% |
| 2013 | 20.62 trillion current LCU | +14.3% |
| 2014 | 20.45 trillion current LCU | -0.8% |
| 2015 | 21.29 trillion current LCU | +4.1% |
| 2016 | 28.08 trillion current LCU | +31.9% |
| 2017 | 28.47 trillion current LCU | +1.4% |
| 2018 | 32.74 trillion current LCU | +15.0% |
| 2019 | 34.85 trillion current LCU | +6.4% |
| 2020 | 38.90 trillion current LCU | +11.6% |
| 2021 | 44.44 trillion current LCU | +14.2% |
| 2022 | 52.19 trillion current LCU | +17.4% |
| 2023 | 78.76 trillion current LCU | +50.9% |
Nigeria compared with similar countries
- Nigeria's 78.76 trillion current LCU is above the median for lower middle income countries, which is 698.63 billion current LCU, 112.7× the median. (46 countries reporting)
- Nigeria's 78.76 trillion current LCU is above the median for Sub-Saharan Africa, which is 1.40 trillion current LCU, 56.4× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 432.83 million current LCU | 276.00 million current LCU | 662.60 million current LCU | 10 |
| 1970s | 4.20 billion current LCU | 979.30 million current LCU | 9.85 billion current LCU | 10 |
| 1980s | 24.40 billion current LCU | 14.39 billion current LCU | 43.37 billion current LCU | 10 |
| 1990s | 307.53 billion current LCU | 57.55 billion current LCU | 699.73 billion current LCU | 10 |
| 2000s | 4.11 trillion current LCU | 1.04 trillion current LCU | 10.93 trillion current LCU | 10 |
| 2010s | 23.04 trillion current LCU | 11.66 trillion current LCU | 34.85 trillion current LCU | 10 |
| 2020s | 53.57 trillion current LCU | 38.90 trillion current LCU | 78.76 trillion current LCU | 4 |
Countries ranked near Nigeria
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 in Nigeria?
- Broad money in Nigeria was 78.76 trillion current LCU in 2023, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest broad money recorded in Nigeria?
- The highest recorded value was 78.76 trillion current LCU in 2023.
- What is the lowest broad money recorded in Nigeria?
- The lowest recorded value was 276.00 million current LCU in 1960.
- How does Nigeria rank for broad money?
- Nigeria ranks 16th out of 167 countries with data for 2023.
- Is broad money rising or falling in Nigeria?
- Over the last ten years it is up 282.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Broad money (current LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.