Nigeria’s broad money supply rose to a record N119.11tn in April 2025, reflecting one of the sharpest monthly expansions in recent quarters, according to data from the Central Bank of Nigeria.
The figure represents a 22.9 per cent increase from N96.97tn recorded in April 2024 and a 4.3 per cent rise from N114.22tn in March 2025.
The rise in money supply comes amid the CBN’s decision to maintain a tight monetary policy stance, with the Monetary Policy Committee leaving the Monetary Policy Rate unchanged at 27.5 per cent in its May 2025 meeting, pausing a string of rate hikes for the second time this year.
Although headline inflation eased marginally to 23.71 per cent in April from 24.23 per cent in March, the continued rise in liquidity could undermine recent gains in price moderation if not closely managed.
The MPC warned that inflation remains high and maintained a hawkish tone, even as it chose to monitor the effects of earlier tightening measures.
The expansion in the money supply was driven by growth in both net foreign assets and net domestic assets.
