Nigeria M2 Growth
1993 - 2024 | Monthly | % | CEIC Data
Key information about Nigeria M2 Growth
- Nigeria Money Supply M2 increased 63.3 % YoY in Aug 2024, compared with a growth of 62.8 % in the previous month
- Nigeria Money Supply M2 growth data is updated monthly, available from Nov 1993 to Aug 2024
- The data reached an all-time high of 85.1 % in Feb 2007 and a record low of -8.9 % in Feb 2006
CEIC calculates M2 Growth Rate from monthly M2. The Central Bank of Nigeria provides M2 in local currency
View Nigeria's M2 Growth from Nov 1993 to Aug 2024 in the chart:
What was Nigeria's M2 Growth in Aug 2024?
Nigeria Money Supply M2 increased 63.3 % YoY in Aug 2024, compared with a growth of 62.8 % in the previous month See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 63.3 Aug 2024 | 62.8 Jul 2024 | -8.9 Feb 2006 | 85.1 Feb 2007 | % | monthly | Nov 1993 - Aug 2024 |
M2 Growth by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 5.9 Sep 2024 | monthly | Dec 1994 - Sep 2024 |
| Algeria (%) | 6.0 Dec 2023 | monthly | Jan 2002 - Dec 2023 |
| Argentina (%) | 190.2 Aug 2024 | monthly | Jan 1991 - Aug 2024 |
| Armenia (%) | 15.1 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
| Australia (%) | 5.4 Sep 2024 | monthly | Mar 1966 - Sep 2024 |
| Austria (%) | 2.7 Aug 2024 | monthly | Sep 1998 - Aug 2024 |
| Azerbaijan (%) | 19.7 May 2023 | monthly | Dec 1996 - May 2023 |
| Bahrain (%) | 5.3 Sep 2024 | monthly | Dec 1975 - Sep 2024 |
| Bangladesh (%) | 7.9 Sep 2024 | monthly | Jun 1987 - Sep 2024 |
| Belarus (%) | 28.9 Sep 2024 | monthly | Dec 1990 - Sep 2024 |
| Belgium (%) | 6.0 Sep 2024 | monthly | Dec 1997 - Sep 2024 |
| Bolivia (%) | 15.3 Jun 2024 | monthly | Dec 1988 - Jun 2024 |
| Bosnia and Herzegovina (%) | 7.9 Sep 2024 | monthly | Aug 1998 - Sep 2024 |
| Botswana (%) | 12.0 Aug 2024 | monthly | Jan 2002 - Aug 2024 |
| Brazil (%) | 13.4 Sep 2024 | monthly | Jan 1971 - Sep 2024 |
| Bulgaria (%) | 8.8 Sep 2024 | monthly | Dec 1996 - Sep 2024 |
| Cambodia (%) | 14.3 Aug 2024 | monthly | Jan 1996 - Aug 2024 |
| Canada (%) | 5.7 Aug 2024 | monthly | Jan 1969 - Aug 2024 |
| Chile (%) | 5.4 Sep 2024 | monthly | Jan 1987 - Sep 2024 |
| China (%) | 6.8 Sep 2024 | monthly | Mar 1997 - Sep 2024 |
| Colombia (%) | 7.2 Sep 2024 | monthly | Dec 1980 - Sep 2024 |
| Croatia (%) | 3.3 Sep 2024 | monthly | Jun 1995 - Sep 2024 |
| Cyprus (%) | -5.2 2014 | yearly | 2006 - 2014 |
| Czech Republic (%) | 6.2 Aug 2024 | monthly | Jan 2003 - Aug 2024 |
| Denmark (%) | 3.4 Aug 2017 | monthly | Jan 1996 - Aug 2017 |
| Ecuador (%) | 8.4 Aug 2024 | monthly | Dec 2007 - Aug 2024 |
| Egypt (%) | 29.6 Sep 2024 | monthly | Jan 1997 - Sep 2024 |
| Estonia (%) | 6.2 Sep 2024 | monthly | Jan 2012 - Sep 2024 |
| European Union (%) | 2.2 Sep 2024 | monthly | Jan 1981 - Sep 2024 |
| Finland (%) | -0.2 Sep 2024 | monthly | Jan 1981 - Sep 2024 |
| France (%) | 0.7 Aug 2024 | monthly | Dec 1978 - Aug 2024 |
| Georgia (%) | 20.3 Sep 2024 | monthly | Oct 1996 - Sep 2024 |
| Germany (%) | 2.9 Sep 2024 | monthly | Jan 1970 - Sep 2024 |
| Ghana (%) | 35.6 Jun 2024 | quarterly | Mar 1991 - Jun 2024 |
| Greece (%) | 2.0 Sep 2024 | monthly | Jan 2002 - Sep 2024 |
| Hong Kong SAR, China (%) | 8.5 Sep 2024 | monthly | Dec 1981 - Sep 2024 |
| Hungary (%) | 5.6 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Iceland (%) | 7.4 Aug 2024 | monthly | Sep 1987 - Aug 2024 |
| India (%) | 8.1 Aug 2024 | monthly | Mar 1995 - Aug 2024 |
| Indonesia (%) | 7.2 Sep 2024 | monthly | Feb 1969 - Sep 2024 |
| Iran (%) | 26.8 Jun 2024 | monthly | Dec 2000 - Jun 2024 |
| Ireland (%) | 5.1 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
| Israel (%) | 7.5 Jul 2024 | monthly | Apr 1982 - Jul 2024 |
| Italy (%) | 1.1 Aug 2024 | monthly | Dec 1975 - Aug 2024 |
| Ivory Coast (%) | 4.6 Jul 2024 | monthly | Jan 2005 - Jul 2024 |
| Japan (%) | 1.3 Sep 2024 | monthly | Jan 1968 - Sep 2024 |
| Jordan (%) | 6.0 Sep 2024 | monthly | Jan 1991 - Sep 2024 |
| Kazakhstan (%) | 18.9 Sep 2024 | monthly | Dec 1994 - Sep 2024 |
| Kenya (%) | 3.7 Sep 2024 | monthly | Dec 1996 - Sep 2024 |
| South Korea (%) | 6.2 Aug 2024 | monthly | Jan 1971 - Aug 2024 |
| Kosovo (%) | 11.3 2023 | yearly | 2002 - 2023 |
| Kuwait (%) | 3.7 Sep 2024 | monthly | Jan 1995 - Sep 2024 |
| Kyrgyzstan (%) | 30.0 Aug 2024 | monthly | Jan 1995 - Aug 2024 |
| Laos (%) | 34.6 Jun 2024 | quarterly | Dec 2000 - Jun 2024 |
| Latvia (%) | 4.5 Sep 2024 | monthly | Jan 2015 - Sep 2024 |
| Lebanon (%) | -17.2 Feb 2024 | monthly | Dec 1980 - Feb 2024 |
| Lithuania (%) | 8.3 Sep 2024 | monthly | Dec 1994 - Sep 2024 |
| Luxembourg (%) | 3.4 Sep 2024 | monthly | Jan 2000 - Sep 2024 |
| Macau SAR, China (%) | 6.7 Sep 2024 | monthly | Jun 1985 - Sep 2024 |
| North Macedonia (%) | 4.8 Sep 2024 | monthly | Jan 2004 - Sep 2024 |
| Malawi (%) | 36.0 Jun 2023 | monthly | Jan 1976 - Jun 2023 |
| Malaysia (%) | 4.2 Sep 2024 | monthly | Dec 1970 - Sep 2024 |
| Malta (%) | 4.1 Aug 2024 | monthly | Jan 2009 - Aug 2024 |
| Mauritius (%) | 9.9 Jul 2024 | monthly | Jul 1977 - Jul 2024 |
| Mexico (%) | 12.7 Sep 2024 | monthly | Dec 1986 - Sep 2024 |
| Moldova (%) | 19.9 Sep 2024 | monthly | Jan 2001 - Sep 2024 |
| Mongolia (%) | 25.9 Sep 2024 | monthly | Dec 1997 - Sep 2024 |
| Montenegro (%) | 12.0 2023 | yearly | 2003 - 2023 |
| Morocco (%) | 8.7 Sep 2024 | monthly | Jan 1986 - Sep 2024 |
| Mozambique (%) | 13.8 Sep 2024 | monthly | Dec 2002 - Sep 2024 |
| Myanmar (%) | 15.9 Mar 2024 | quarterly | Dec 2002 - Mar 2024 |
| Nepal (%) | 13.9 Sep 2024 | monthly | Jan 2002 - Sep 2024 |
| Netherlands (%) | -0.0 Sep 2024 | monthly | Dec 1957 - Sep 2024 |
| New Zealand (%) | 3.0 Sep 2024 | monthly | Mar 1989 - Sep 2024 |
| Nigeria (%) | 63.3 Aug 2024 | monthly | Nov 1993 - Aug 2024 |
| Norway (%) | 2.6 Sep 2024 | monthly | Dec 1993 - Sep 2024 |
| Oman (%) | 12.4 Aug 2024 | monthly | Jan 2000 - Aug 2024 |
| Pakistan (%) | 15.0 Sep 2024 | monthly | Jan 1989 - Sep 2024 |
| Palestinian Territory (%) | 8.8 Sep 2024 | monthly | Jul 2003 - Sep 2024 |
| Panama (%) | 8.7 Jul 2024 | monthly | Dec 2003 - Jul 2024 |
| Paraguay (%) | 11.3 Sep 2024 | monthly | Dec 1989 - Sep 2024 |
| Peru (%) | 11.4 Sep 2024 | monthly | Jan 1993 - Sep 2024 |
| Philippines (%) | 7.8 Jul 2024 | monthly | Dec 1989 - Jul 2024 |
| Poland (%) | 7.7 Aug 2024 | monthly | Dec 1997 - Aug 2024 |
| Portugal (%) | 6.8 Sep 2024 | monthly | Dec 1980 - Sep 2024 |
| Qatar (%) | 5.0 Sep 2024 | monthly | Jan 1983 - Sep 2024 |
| Romania (%) | 9.0 Sep 2024 | monthly | Dec 2002 - Sep 2024 |
| Russia (%) | 18.8 Sep 2024 | monthly | Dec 1992 - Sep 2024 |
| Saudi Arabia (%) | 11.3 Sep 2024 | monthly | Jan 1994 - Sep 2024 |
| Serbia (%) | 15.5 Sep 2024 | monthly | Aug 2002 - Sep 2024 |
| Singapore (%) | 4.6 Sep 2024 | monthly | Mar 2005 - Sep 2024 |
| Slovakia (%) | 5.6 Sep 2024 | monthly | Dec 2001 - Sep 2024 |
| Slovenia (%) | 2.5 Sep 2024 | monthly | Jan 2008 - Sep 2024 |
| South Africa (%) | 6.8 Aug 2024 | monthly | Mar 1966 - Aug 2024 |
| Spain (%) | 4.2 Sep 2024 | monthly | Jan 1963 - Sep 2024 |
| Sri Lanka (%) | 10.6 Sep 2024 | monthly | Jan 1995 - Sep 2024 |
| Sudan (%) | 43.9 Feb 2023 | monthly | Dec 2004 - Feb 2023 |
| Sweden (%) | 1.6 Sep 2024 | monthly | Jan 1999 - Sep 2024 |
| Switzerland (%) | -10.4 Jun 2023 | monthly | Dec 1985 - Jun 2023 |
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Learn more about what we doNigeria Key Series
| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -5.7 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Consolidated Fiscal Balance (USD mn) | -3,274.101 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| National Government Debt (USD mn) | 101,710.7 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| Government Debt: % of GDP (%) | 49.5 Mar 2024 | quarterly | Dec 2010 - Mar 2024 |
| Forecast: Government Expenditure (NGN bn) | 100,505.650 2029 | yearly | 1990 - 2029 |
| Forecast: Government Net Debt (NGN bn) | 285,181.495 2029 | yearly | 1990 - 2029 |
| Forecast: Government Revenue (NGN bn) | 72,588.069 2029 | yearly | 1990 - 2029 |
| Federal Govt Balance (NGN bn) | -4,533.420 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Gross Federation Account Revenue (NGN bn) | 6,285.040 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 6,152.970 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Gross Federation Account Revenue: Oil (NGN bn) | 1,733.500 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Federal Govt Expenditure (NGN bn) | 6,838.960 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Federal Govt Expenditure: Capital (NGN bn) | 250.290 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Federal Govt Revenue (NGN bn) | 2,305.540 Jun 2024 | quarterly | Mar 2005 - Jun 2024 |
| Government Debt: Domestic (NGN bn) | 53,258.012 Dec 2023 | quarterly | Dec 2005 - Dec 2023 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | -1.879 2028 | yearly | 1991 - 2028 |
| Trade Balance (USD mn) | 2,786.0 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Total Exports (USD mn) | 4,913.5 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Total Exports Growth (%) | 163.7 Jun 2024 | monthly | Jan 2004 - Jun 2024 |
| Aluminum: Exports (USD th) | 187,832.450 2023 | yearly | 1995 - 2023 |
| Exports: Medicament (USD th) | 2,876.353 2022 | yearly | 1995 - 2022 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 480.530 2022 | yearly | 1995 - 2022 |
| Total Imports (USD mn) | 2,989.3 Mar 2023 | monthly | Jan 2003 - Mar 2023 |
| Total Imports Growth (%) | 83.0 Jun 2024 | monthly | Jan 2004 - Jun 2024 |
| Imports: Medicament (USD th) | 755,360.705 2022 | yearly | 1995 - 2022 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 508,406.689 2022 | yearly | 1995 - 2022 |
| Total Exports to USA (USD mn) | 658.371 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Total Imports from USA (USD mn) | 177.707 Jun 2024 | monthly | Dec 2009 - Jun 2024 |
| Total Exports to China (USD mn) | 160.464 Jun 2024 | monthly | Jan 2007 - Jun 2024 |
| Total Imports from China (USD mn) | 737.510 Jun 2024 | monthly | Jan 2007 - Jun 2024 |
| Exports: Crude Oil (NGN mn) | 5,457,219.231 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Total Trade (NGN mn) | 10,433,069.822 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Growth Rate: MoM (%) | -35.341 Jun 2024 | monthly | Jan 2019 - Jun 2024 |
| Exports: Growth Rate: MoM (%) | 10.446 Jun 2024 | monthly | Jan 2019 - Jun 2024 |
| Exports: America: ow USA (NGN mn) | 975,552.174 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Exports: Europe: ow UK (NGN mn) | 4,761.874 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Exports (NGN mn) | 7,280,672.000 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Exports: Europe: ow Netherlands (NGN mn) | 434,520.151 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Exports: Mineral Products (NGN mn) | 33,075,147.443 2023 | yearly | 2003 - 2023 |
| Exports: Vegetable Products (NGN mn) | 786,963.687 2023 | yearly | 2003 - 2023 |
| Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) | 53,170.162 2023 | yearly | 2003 - 2023 |
| Imports: Europe: ow Netherlands (NGN mn) | 89,695.701 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Europe: ow Germany (NGN mn) | 91,725.002 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Asia: ow China (NGN mn) | 1,092,816.851 Jun 2024 | monthly | Jan 2007 - Jun 2024 |
| Imports: America: ow USA (NGN mn) | 263,320.371 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Europe: ow UK (NGN mn) | 39,682.510 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports (NGN mn) | 3,152,397.822 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) | 564,023.272 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Food and Live Animals (NGN mn) | 464,465.517 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Machinery and Transport Equipment (NGN mn) | 939,658.575 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Manufactured Goods (NGN mn) | 415,104.163 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Imports: Chemicals and Chemical Products (NGN mn) | 531,688.790 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Export Value Index (2015=100) | 93.461 2021 | yearly | 1980 - 2021 |
| Import Value Index (2015=100) | 116.198 2021 | yearly | 1980 - 2021 |
| Balance of Payments | Last | Frequency | Range |
|---|---|---|---|
| Direct Investment Abroad (USD mn) | -831.3 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Current Account Balance (USD mn) | 5,142.5 Jun 2024 | quarterly | Mar 2014 - Jun 2024 |
| Current Account Balance: % of GDP (%) | 11.5 Jun 2024 | quarterly | Mar 2014 - Jun 2024 |
| Foreign Direct Investment (USD mn) | 1,197.6 Mar 2023 | quarterly | Mar 2014 - Mar 2023 |
| Foreign Direct Investment: % of GDP (%) | 1.3 Jun 2024 | quarterly | Mar 2010 - Jun 2024 |
| Foreign Portfolio Investment (USD mn) | 4,416.719 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Foreign Portfolio Investment: % of GDP (%) | 10.0 Jun 2024 | quarterly | Mar 2010 - Jun 2024 |
| Foreign Portfolio Investment: Equity Securities (USD mn) | -309.3 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| Foreign Portfolio Investment: Debt Securities (USD mn) | 4,726.039 Jun 2024 | quarterly | Mar 2008 - Jun 2024 |
| External Debt (USD mn) | 42,495.2 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| External Debt: % of GDP (%) | 11.9 2023 | yearly | 1985 - 2023 |
| External Debt: Short Term (USD mn) | 1,005.6 2020 | yearly | 2008 - 2020 |
| External Debt: Short Term: % of GDP (%) | 0.2 2020 | yearly | 2008 - 2020 |
| Forecast: Current Account Balance (USD bn) | -5.481 2029 | yearly | 1980 - 2029 |
| Net International Investment Position (USD mn) | -86,263.760 2023 | yearly | 2005 - 2023 |
| External Debt: Service Payments (USD mn) | 194.440 Dec 2018 | quarterly | Mar 2008 - Dec 2018 |
| External Debt: Government (USD mn) | 42,495.160 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| External Debt: Government: International Capital Market (USD mn) | 15,118.350 Mar 2024 | quarterly | Mar 2011 - Mar 2024 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 6.1 2019 | yearly | 2003 - 2019 |
| Non-Performing Loans (USD mn) | 3,315.011 Mar 2021 | quarterly | Mar 2007 - Mar 2021 |
| Money Supply M1 (USD mn) | 21,896.535 Aug 2024 | monthly | Nov 1992 - Aug 2024 |
| Money Supply M2 (USD mn) | 67,150.889 Aug 2024 | monthly | Nov 1992 - Aug 2024 |
| M2 Growth (%) | 63.3 Aug 2024 | monthly | Nov 1993 - Aug 2024 |
| Reserve Requirement Ratio (%) | 50.0 Oct 2024 | monthly | Nov 2005 - Oct 2024 |
| Foreign Exchange Reserves (USD mn) | 34,762.2 Jun 2024 | monthly | Jan 1960 - Jun 2024 |
| Foreign Exchange Reserves: % of GDP (%) | 14.124 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Foreign Exchange Reserves: Months of Import (NA) | 16.3 Jun 2024 | monthly | Jan 2003 - Jun 2024 |
| Gold Reserves (USD mn) | 1,599.957 Jun 2024 | monthly | Dec 1950 - Jun 2024 |
| Total Deposits (USD mn) | 84,213.801 Dec 2019 | monthly | Nov 1992 - Dec 2019 |
| Total Deposits Growth (%) | 2.6 Dec 2019 | monthly | Nov 1993 - Dec 2019 |
| Domestic Credit (USD mn) | 73,616.6 Sep 2024 | monthly | Nov 1992 - Sep 2024 |
| Domestic Credit Growth (%) | 33.3 Aug 2024 | monthly | Nov 1993 - Aug 2024 |
| Private Debt: % of Nominal GDP (%) | 20.83 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Monetary Survey: Liabilities: Base Money (NGN mn) | 26,891,229.280 Aug 2024 | monthly | Jan 1993 - Aug 2024 |
| Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) | 72,232,284.010 Aug 2024 | monthly | Nov 1992 - Aug 2024 |
| Monetary Survey: Liabilities: M3 (NGN mn) | 35,345,802.020 Jun 2020 | monthly | Nov 1992 - Jun 2020 |
| Monetary Survey: Liabilities: M2 (NGN mn) | 107,182,219.490 Aug 2024 | monthly | Nov 1992 - Aug 2024 |
| Monetary Survey: Liabilities: M2: M1 (NGN mn) | 34,949,935.480 Aug 2024 | monthly | Nov 1992 - Aug 2024 |
| Non Performing Loans to Gross Loans (%) | 4.140 Jun 2023 | semiannually | Dec 2003 - Jun 2023 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 13.8 Sep 2024 | monthly | Jul 2015 - Sep 2024 |
More Indicators for Nigeria
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