Nigeria's Money Supply Surges to N117.8 Trillion in Two Years, Analysts Warn of Economic Implications

Nigeria's money supply has seen a substantial jump to N117.8 trillion in two years, as per data from the Central Bank of Nigeria (CBN). Credit to the government has surged by 9.1% to N24.158 trillion.

Analysts caution that the excessive money circulation could outpace economic growth, leading to inflation. David Adonri, an executive at High Cap Securities Limited, highlighted the potential impacts on economic growth and inflation.

The CBN's recent updates on the state of the economy and monetary reforms under the current leadership were also noted.