Broad money (% of GDP) in Nigeria
Nigeria: Broad money (% of GDP) was 28.7% in 2025. ▲ Rising
Broad money in Nigeria, 1960–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Nigeria recorded 28.7% for broad money in 2025.
The figure is down 5.5% on the previous year and up 28.4% over ten years.
Over the whole period, broad money in Nigeria peaked at 30.4% in 2024 and was at its lowest, 9.1%, in 1996.
Nigeria ranks 142nd of 167 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 66 years of available data.
Broad money (% of GDP) in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 9.2% | — |
| 1961 | 9.4% | +2.1% |
| 1962 | 9.5% | +0.9% |
| 1963 | 9.8% | +3.3% |
| 1964 | 10.9% | +10.8% |
| 1965 | 11.2% | +2.8% |
| 1966 | 11.4% | +2.4% |
| 1967 | 12.2% | +6.9% |
| 1968 | 14.1% | +15.0% |
| 1969 | 14.0% | -0.5% |
| 1970 | 10.9% | -21.8% |
| 1971 | 10.0% | -8.1% |
| 1972 | 10.9% | +8.7% |
| 1973 | 11.2% | +2.5% |
| 1974 | 13.2% | +18.2% |
| 1975 | 17.6% | +33.0% |
| 1976 | 19.9% | +13.4% |
| 1977 | 22.9% | +14.6% |
| 1978 | 20.9% | -8.7% |
| 1979 | 23.0% | +10.0% |
| 1980 | 28.6% | +24.7% |
| 1981 | 10.9% | -61.8% |
| 1982 | 11.2% | +2.4% |
| 1983 | 12.0% | +7.1% |
| 1984 | 12.8% | +6.8% |
| 1985 | 12.3% | -3.8% |
| 1986 | 11.9% | -3.3% |
| 1987 | 11.8% | -0.9% |
| 1988 | 12.2% | +3.0% |
| 1989 | 10.5% | -14.1% |
| 1990 | 11.6% | +11.3% |
| 1991 | 13.4% | +15.2% |
| 1992 | 14.2% | +6.3% |
| 1993 | 15.8% | +10.8% |
| 1994 | 15.1% | -4.4% |
| 1995 | 10.3% | -31.9% |
| 1996 | 9.1% | -11.9% |
| 1997 | 9.7% | +7.3% |
| 1998 | 10.9% | +12.5% |
| 1999 | 12.8% | +16.7% |
| 2000 | 14.7% | +14.9% |
| 2001 | 15.9% | +8.4% |
| 2002 | 13.5% | -14.9% |
| 2003 | 13.0% | -3.7% |
| 2004 | 11.8% | -9.7% |
| 2005 | 11.3% | -3.9% |
| 2006 | 11.7% | +3.8% |
| 2007 | 19.3% | +64.5% |
| 2008 | 23.8% | +23.4% |
| 2009 | 25.1% | +5.6% |
| 2010 | 21.4% | -15.1% |
| 2011 | 22.5% | +5.3% |
| 2012 | 24.9% | +10.9% |
| 2013 | 25.4% | +2.1% |
| 2014 | 22.7% | -10.8% |
| 2015 | 22.4% | -1.4% |
| 2016 | 27.4% | +22.4% |
| 2017 | 24.8% | -9.5% |
| 2018 | 25.4% | +2.3% |
| 2019 | 17.0% | -33.0% |
| 2020 | 18.2% | +7.2% |
| 2021 | 18.3% | +0.3% |
| 2022 | 19.0% | +4.2% |
| 2023 | 25.1% | +31.8% |
| 2024 | 30.4% | +21.2% |
| 2025 | 28.7% | -5.5% |
Nigeria compared with similar countries
- Nigeria's 28.7% is below the median for lower middle income countries, which is 42.3%, 68% of the median. (46 countries reporting)
- Nigeria's 28.7% is below the median for Sub-Saharan Africa, which is 29.8%, 96% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 11.2% | 9.2% | 14.1% | 10 |
| 1970s | 16.0% | 10.0% | 23.0% | 10 |
| 1980s | 13.4% | 10.5% | 28.6% | 10 |
| 1990s | 12.3% | 9.1% | 15.8% | 10 |
| 2000s | 16.0% | 11.3% | 25.1% | 10 |
| 2010s | 23.4% | 17.0% | 27.4% | 10 |
| 2020s | 23.3% | 18.2% | 30.4% | 6 |
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 28.7% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest broad money recorded in Nigeria?
- The highest recorded value was 30.4% in 2024.
- What is the lowest broad money recorded in Nigeria?
- The lowest recorded value was 9.1% in 1996.
- How does Nigeria rank for broad money?
- Nigeria ranks 142nd out of 167 countries with data for 2025.
- Is broad money rising or falling in Nigeria?
- Over the last ten years it is up 28.4%. The long-run trend across the full record is rising.
- 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 (% of GDP). Statizoid updates them automatically from the source API.
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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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.