Broad Money (Domestic currency) in Nigeria
Nigeria: Broad Money (Domestic currency) was 78.76 trillion Domestic currency in 2023. ◆ Volatile
Broad Money in Nigeria, 2001–2023
Source: International Monetary Fund. Measured in Domestic currency.
Analysis
The most recent figure for broad money in Nigeria is 78.76 trillion Domestic currency, measured in 2023. That is the highest value across all 23 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 Domestic currency in 2023 and was at its lowest, 1.31 trillion Domestic currency, in 2001.
Nigeria ranks 11th of 144 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 (Domestic currency) in Nigeria, year by year
| Year | Domestic currency | Change |
|---|---|---|
| 2001 | 1.31 trillion Domestic currency | — |
| 2002 | 1.56 trillion Domestic currency | +18.8% |
| 2003 | 1.77 trillion Domestic currency | +13.5% |
| 2004 | 2.13 trillion Domestic currency | +20.7% |
| 2005 | 2.61 trillion Domestic currency | +22.6% |
| 2006 | 3.56 trillion Domestic currency | +36.4% |
| 2007 | 6.69 trillion Domestic currency | +87.8% |
| 2008 | 9.51 trillion Domestic currency | +42.2% |
| 2009 | 10.93 trillion Domestic currency | +14.9% |
| 2010 | 11.66 trillion Domestic currency | +6.7% |
| 2011 | 14.19 trillion Domestic currency | +21.7% |
| 2012 | 18.04 trillion Domestic currency | +27.1% |
| 2013 | 20.62 trillion Domestic currency | +14.3% |
| 2014 | 20.45 trillion Domestic currency | -0.8% |
| 2015 | 21.29 trillion Domestic currency | +4.1% |
| 2016 | 28.08 trillion Domestic currency | +31.9% |
| 2017 | 28.47 trillion Domestic currency | +1.4% |
| 2018 | 32.74 trillion Domestic currency | +15.0% |
| 2019 | 34.85 trillion Domestic currency | +6.4% |
| 2020 | 38.90 trillion Domestic currency | +11.6% |
| 2021 | 44.44 trillion Domestic currency | +14.2% |
| 2022 | 52.19 trillion Domestic currency | +17.4% |
| 2023 | 78.76 trillion Domestic currency | +50.9% |
Nigeria compared with similar countries
- Nigeria's 78.76 trillion Domestic currency is above the median for lower middle income countries, which is 762.39 billion Domestic currency, 103.3× the median. (41 countries reporting)
- Nigeria's 78.76 trillion Domestic currency is above the median for Sub-Saharan Africa, which is 1.84 trillion Domestic currency, 42.8× the median. (46 countries reporting)
Biggest year-on-year movements
Years where Broad Money (Domestic currency) 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 |
|---|---|---|---|
| 2007 | +87.8% | 3.56 trillion Domestic currency | 6.69 trillion Domestic currency |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.45 trillion Domestic currency | 1.31 trillion Domestic currency | 10.93 trillion Domestic currency | 9 |
| 2010s | 23.04 trillion Domestic currency | 11.66 trillion Domestic currency | 34.85 trillion Domestic currency | 10 |
| 2020s | 53.57 trillion Domestic currency | 38.90 trillion Domestic currency | 78.76 trillion Domestic currency | 4 |
Countries ranked near Nigeria
- 8 Argentina 222.74 trillion Domestic currency compare
- 9 Paraguay 176.77 trillion Domestic currency compare
- 10 Iraq 174.02 trillion Domestic currency compare
- 12 Russia 75.28 trillion Domestic currency compare
- 13 Myanmar 74.68 trillion Domestic currency compare
- 14 Guinea 64.59 trillion Domestic currency 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 in Nigeria?
- Broad money in Nigeria was 78.76 trillion Domestic currency in 2023, according to International Monetary Fund.
- What is the highest broad money recorded in Nigeria?
- The highest recorded value was 78.76 trillion Domestic currency in 2023.
- What is the lowest broad money recorded in Nigeria?
- The lowest recorded value was 1.31 trillion Domestic currency in 2001.
- How does Nigeria rank for broad money?
- Nigeria ranks 11th out of 144 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 Monetary Fund, published as part of Broad Money (Domestic currency). Statizoid updates them automatically from the source API.
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About this data
Monetary and Financial Statistics (MFS), Monetary Aggregates 2026 April