RismadarVoice Business
September 18, 2026
Nigeria’s Net Domestic Assets rose by 27.1 per cent year-on-year to ₦101.006 trillion in July 2026, reflecting a significant expansion in the domestic component of the country’s monetary system.
Data from the Central Bank of Nigeria’s money and credit statistics showed that NDA increased by ₦21.51 trillion from ₦79.496 trillion recorded in July 2025.
Net Domestic Assets broadly reflect domestic claims within the monetary system, including credit to government and the private sector, alongside other domestic assets and liabilities. Movements in the measure indicate how domestic factors contribute to overall money supply.
FOREIGN ASSETS DECLINE
The increase in domestic assets came as Nigeria’s Net Foreign Assets fell 6.6 per cent to ₦37.710 trillion from ₦40.390 trillion in July 2025.
That represents a year-on-year decline of about ₦2.68 trillion.
Net Foreign Assets measure the balance between foreign assets held within the monetary system and corresponding foreign liabilities.
The contrasting movements show that growth in Nigeria’s monetary assets during the period came predominantly from domestic rather than foreign sources.
MONEY SUPPLY HITS ₦138.78TRN
Broad money supply, measured by M3, also increased 15.8 per cent year-on-year, rising from ₦119.887 trillion in July 2025 to ₦138.776 trillion in July 2026.
M3 is a broad measure of money available within the economy and includes M2 alongside other monetary instruments captured by the CBN.
Economic and communications analyst Clifford Egbomeade said the 27.1 per cent increase in NDA should be viewed cautiously, particularly if a significant part of the expansion reflects government borrowing.
He said higher domestic assets could increase liquidity without producing equivalent growth in productive economic activity.
Overall, the CBN figures show a clear shift towards domestically driven liquidity growth, with NDA rising sharply while net foreign assets declined.
