Supply (M2) increased by 4.2 percent month-on-month, MoM, to N119.1 trillion in April 2025 from N114.2 trillion in March 2025.
This is coming on the back of the Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, decision to retain the Monetary Policy Rate, MPR, at 27.5 percent for the second time with emphasis on the need to monitor global economic uncertainties before adjusting key monetary tools.
According to CBN’s Money and Credit Statistics data for April 2025, the increase in money supply followed positive changes in its components, with Quasi-money, including savings deposits, time deposits, and other near-money assets, rising significantly.
The data showed that Quasi Money grew by 3.17 percent MoM to N78.1 trillion in April from N75.7 trillion in March.
Similarly, Demand Deposits increased by 7.4 percent MoM to N36.4 trillion in April from N33.9 trillion in March.
The report also showed that Narrow money (M1) also grew by 6.2 percent MoM to N41 trillion in April from N38.6 trillion in March.
However, currency outside banks increased slightly by 0.4 percent MoM to N4.57 trillion in April from N4.59 trillion in March.
Also, the data showed that credit to the government fell by 8.8 percent MoM to N23.6 trillion in April from N25.9 trillion in March, representing the second consecutive month’s decline since March.
On the other hand, credit to the private sector grew by 2.1 percent MoM to N77.9 trillion in April from N76.3 trillion in March.
This resulted in a 0.61 percent MoM decline in net domestic credit to N101.5 trillion in April from N102.13 trillion in March.
