Nigeria’s broad money supply growth slowed to 13.65 percent year-on-year in June 2026, as the Central Bank of Nigeria’s tight monetary policy stance continued to curb the pace of liquidity expansion in the economy.
Data provided by the Central Bank showed that M3, a broad measure of money supply, rose to N133.25 trillion in June 2026 from N117.25 trillion a year earlier. Although the stock of money reached a new high, its annual growth rate moderated from 15.56 percent in June 2025.
The latest slowdown extends a trend that emerged after the sharp expansion recorded in 2024. M3 grew by 56.31 percent year-on-year to N101.46 trillion in June 2024, before growth slowed to 15.56 percent in June 2025 and 13.65 percent in June 2026.
Over the five-year period, broad money supply increased by 172.55 percent, rising from N48.89 trillion in June 2022 to N133.25 trillion in June 2026. The figures indicate that while liquidity has continued to expand, the pace of monetary expansion has moderated significantly.
Oyinpereye Forcados, fixed income broker at Parthian Partners, attributed the slower growth in money supply to the CBN’s largely orthodox monetary policy stance and its focus on containing inflationary pressures.
