Broad Money in Nigeria
Nigeria: Broad Money was 78.76 trillion Domestic currency in 2023. ◆ Volatile
Latest (2023)
78.76 trillion Domestic currency
Change on year
up 50.9%
World rank
11th
of 144 countries
All-time high
78.76 trillion Domestic currency
in 2023
All-time low
1.31 trillion Domestic currency
in 2001
Years of data
23
2001–2023
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 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% |
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
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 6.98 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0966 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 118.25 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 6.08 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 132.23 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 8.47 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 141.49 SDR per person (2025)
- Total reserves (gold at national valuation) (SDR), annual growth rate 8.36 % change on previous year (2025)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
- Total reserves (gold at national valuation) 33.58 billion SDR (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