Nigeria’s broad money supply (M3) rose to N110.98tn in January 2025, representing a 17.3 per cent year-on-year increase from N94.61tn recorded in January 2024.
The latest figures, sourced from the Central Bank of Nigeria’s monetary and credit statistics, highlight a growing liquidity trend in the economy, fuelled by a surge in both net foreign assets and net domestic assets.
Despite this increase, the CBN did not provide figures for December 2024, creating a gap in assessing monetary movements during the peak holiday spending season.
The release of these figures comes just as the Monetary Policy Committee convenes this week — on Wednesday, February 19, and Thursday, February 20 — to decide on the country’s interest rates amid mounting inflationary concerns.
The surge in money supply will likely weigh on discussions as policymakers deliberate on measures to contain inflation and stabilise the naira.
Nigeria’s net foreign assets climbed to N35.39tn in January 2025, a 19 per cent YoY increase from N29.73tn recorded a year earlier.
