Nigeria's Money Supply Hits N119.04 Trillion After Rate Cut, Signals Financial System Expansion

Nigeria's broad money supply (M3) rose to N119.04 trillion in October 2025, up from N117.78 trillion in September, as per data from the Central Bank of Nigeria. This increase of N1.25 trillion represents a 1.06% month-on-month and a 10.22% year-on-year growth.

The rise in M3 indicates a continuous liquid expansion in the financial system, driven by the recent monetary policy committee's decision to cut the monetary policy rate by 50 basis points to 27%. The net domestic assets (NDA) also saw a significant increase, reflecting higher government borrowing and increased credit to businesses and households.

However, there was a decline in net foreign assets (NFA) during the same period.