Money in Nigeria
Nigeria: Money was 4.68 trillion in 2008. ◆ Volatile
Latest (2008)
4.68 trillion
Change on year
up 47.8%
World rank
21st
of 162 countries
All-time high
4.68 trillion
in 2008
All-time low
129.00 million
in 1951
Years of data
58
1951–2008
Money in Nigeria, 1951–2008
Source: International Monetary Fund.
Analysis
The most recent figure for money in Nigeria is 4.68 trillion, measured in 2008. That is the highest value across all 58 years on record.
That represents a change of up 47.8% on the previous year and up 1,329.3% over ten years.
Over the whole period, money in Nigeria peaked at 4.68 trillion in 2008 and was at its lowest, 129.00 million, in 1951.
That places Nigeria 21st out of 162 countries with data for 2008, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Money in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1951 | 129.00 million | — |
| 1952 | 142.00 million | +10.1% |
| 1953 | 162.60 million | +14.5% |
| 1954 | 168.40 million | +3.6% |
| 1955 | 174.60 million | +3.7% |
| 1956 | 183.20 million | +4.9% |
| 1957 | 201.00 million | +9.7% |
| 1958 | 202.80 million | +0.9% |
| 1959 | 213.90 million | +5.5% |
| 1960 | 221.20 million | +3.4% |
| 1961 | 229.40 million | +3.7% |
| 1962 | 252.60 million | +10.1% |
| 1963 | 268.70 million | +6.4% |
| 1964 | 317.60 million | +18.2% |
| 1965 | 327.90 million | +3.2% |
| 1966 | 357.20 million | +8.9% |
| 1967 | 322.80 million | -9.6% |
| 1968 | 338.50 million | +4.9% |
| 1969 | 447.30 million | +32.1% |
| 1970 | 642.60 million | +43.7% |
| 1971 | 670.10 million | +4.3% |
| 1972 | 747.30 million | +11.5% |
| 1973 | 788.10 million | +5.5% |
| 1974 | 1.62 billion | +105.5% |
| 1975 | 2.46 billion | +52.1% |
| 1976 | 3.73 billion | +51.4% |
| 1977 | 5.42 billion | +45.4% |
| 1978 | 5.10 billion | -5.9% |
| 1979 | 6.15 billion | +20.5% |
| 1980 | 9.23 billion | +50.1% |
| 1981 | 9.74 billion | +5.6% |
| 1982 | 10.05 billion | +3.1% |
| 1983 | 11.28 billion | +12.3% |
| 1984 | 12.20 billion | +8.2% |
| 1985 | 13.23 billion | +8.4% |
| 1986 | 12.66 billion | -4.3% |
| 1987 | 14.91 billion | +17.7% |
| 1988 | 21.45 billion | +43.9% |
| 1989 | 26.66 billion | +24.3% |
| 1990 | 34.54 billion | +29.5% |
| 1991 | 48.71 billion | +41.0% |
| 1992 | 79.27 billion | +62.8% |
| 1993 | 124.42 billion | +57.0% |
| 1994 | 178.44 billion | +43.4% |
| 1995 | 207.51 billion | +16.3% |
| 1996 | 235.58 billion | +13.5% |
| 1997 | 275.10 billion | +16.8% |
| 1998 | 327.30 billion | +19.0% |
| 1999 | 400.83 billion | +22.5% |
| 2000 | 649.68 billion | +62.1% |
| 2001 | 810.19 billion | +24.7% |
| 2002 | 902.56 billion | +11.4% |
| 2003 | 1.01 trillion | +11.5% |
| 2004 | 1.20 trillion | +19.1% |
| 2005 | 1.52 trillion | +27.1% |
| 2006 | 1.82 trillion | +19.7% |
| 2007 | 3.16 trillion | +73.6% |
| 2008 | 4.68 trillion | +47.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 175.28 million | 129.00 million | 213.90 million | 9 |
| 1960s | 308.32 million | 221.20 million | 447.30 million | 10 |
| 1970s | 2.73 billion | 642.60 million | 6.15 billion | 10 |
| 1980s | 14.14 billion | 9.23 billion | 26.66 billion | 10 |
| 1990s | 191.17 billion | 34.54 billion | 400.83 billion | 10 |
| 2000s | 1.75 trillion | 649.68 billion | 4.68 trillion | 9 |
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 money in Nigeria?
- Money in Nigeria was 4.68 trillion in 2008, according to International Monetary Fund.
- What is the highest money recorded in Nigeria?
- The highest recorded value was 4.68 trillion in 2008.
- What is the lowest money recorded in Nigeria?
- The lowest recorded value was 129.00 million in 1951.
- How does Nigeria rank for money?
- Nigeria ranks 21st out of 162 countries with data for 2008.
- Is money rising or falling in Nigeria?
- Over the last ten years it is up 1,329.3%. 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 Money (Depository Corporations Survey, Domestic currency). Statizoid updates them automatically from the source API.
Download this data
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About this data
The Monetary and Financial Statistics (MFS), Non-standard dataset provides discontinued, vintage country-reported financial data that are not harmonized and use country-specific terms.