National Definitions of Money, Base Money in Nigeria
Nigeria: National Definitions of Money, Base Money was 24.74 trillion Domestic currency in 2023. ◆ Volatile
National Definitions of Money, Base Money in Nigeria, 2007–2023
Source: International Monetary Fund. Measured in Domestic currency.
Analysis
The most recent figure for national definitions of money, base money in Nigeria is 24.74 trillion Domestic currency, measured in 2023. That is the highest value across all 17 years on record.
That represents a change of up 54.3% on the previous year and up 377.1% over ten years.
Over the whole period, national definitions of money, base money in Nigeria peaked at 24.74 trillion Domestic currency in 2023 and was at its lowest, 1.20 trillion Domestic currency, in 2007.
That places Nigeria 9th out of 87 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
National Definitions of Money, Base Money in Nigeria, year by year
| Year | Domestic currency | Change |
|---|---|---|
| 2007 | 1.20 trillion Domestic currency | — |
| 2008 | 1.58 trillion Domestic currency | +32.4% |
| 2009 | 1.70 trillion Domestic currency | +7.1% |
| 2010 | 1.94 trillion Domestic currency | +14.3% |
| 2011 | 2.91 trillion Domestic currency | +49.8% |
| 2012 | 3.71 trillion Domestic currency | +27.5% |
| 2013 | 5.19 trillion Domestic currency | +40.0% |
| 2014 | 5.84 trillion Domestic currency | +12.6% |
| 2015 | 5.76 trillion Domestic currency | -1.4% |
| 2016 | 5.85 trillion Domestic currency | +1.6% |
| 2017 | 6.48 trillion Domestic currency | +10.9% |
| 2018 | 7.18 trillion Domestic currency | +10.7% |
| 2019 | 8.68 trillion Domestic currency | +20.9% |
| 2020 | 13.11 trillion Domestic currency | +51.0% |
| 2021 | 13.30 trillion Domestic currency | +1.4% |
| 2022 | 16.03 trillion Domestic currency | +20.6% |
| 2023 | 24.74 trillion Domestic currency | +54.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.49 trillion Domestic currency | 1.20 trillion Domestic currency | 1.70 trillion Domestic currency | 3 |
| 2010s | 5.35 trillion Domestic currency | 1.94 trillion Domestic currency | 8.68 trillion Domestic currency | 10 |
| 2020s | 16.79 trillion Domestic currency | 13.11 trillion Domestic currency | 24.74 trillion Domestic currency | 4 |
Countries ranked near Nigeria
- 6 Cambodia 49.67 trillion Domestic currency compare
- 7 Argentina 42.96 trillion Domestic currency compare
- 8 Guinea 24.97 trillion Domestic currency compare
- 10 Myanmar 21.98 trillion Domestic currency compare
- 11 Chile 18.50 trillion Domestic currency compare
- 12 Russian Federation 18.47 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 national definitions of money, base money in Nigeria?
- National definitions of money, base money in Nigeria was 24.74 trillion Domestic currency in 2023, according to International Monetary Fund.
- What is the highest national definitions of money, base money recorded in Nigeria?
- The highest recorded value was 24.74 trillion Domestic currency in 2023.
- What is the lowest national definitions of money, base money recorded in Nigeria?
- The lowest recorded value was 1.20 trillion Domestic currency in 2007.
- How does Nigeria rank for national definitions of money, base money?
- Nigeria ranks 9th out of 87 countries with data for 2023.
- Is national definitions of money, base money rising or falling in Nigeria?
- Over the last ten years it is up 377.1%. 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 National Definitions of Money, Base 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