Nigeria’s Net Domestic Assets increased significantly by 21.2 percent year on year to N94.742 trillion in February 2026, up from N78.177 trillion recorded in the same period of 2025, according to the latest data from the Central Bank of Nigeria.
Net Domestic Assets reflect the Central Bank’s domestic claims, including loans to commercial banks, government securities and other local investments, excluding foreign holdings. It remains a key tool for managing liquidity and guiding monetary policy.
The latest figures indicate that the rise in NDA was driven by stronger domestic credit conditions, increased government borrowing and higher lending by commercial banks to the private sector.
However, the data also revealed a contrasting trend in Nigeria’s external position. Net Foreign Assets declined to N29.609 trillion in January 2026 from N33.188 trillion in January 2025, representing a drop of 12.7 percent. This decline highlights mounting external pressures and signals potential vulnerabilities in the country’s financial ility.
Net Foreign Assets measure the difference between a country’s foreign assets and liabilities, serving as an important indicator of external strength and economic resilience.
Meanwhile, the country’s broad money supply, known as M3, rose by 11.2 percent to N123.150 trillion in January 2026 from N110.709 trillion in the previous year. This increase suggests more liquidity circulating within the economy, which could stimulate economic activity but also heighten inflationary risks.
A breakdown of the figures shows that M2 components, including quasi money and narrow money, also recorded similar growth, reflecting a broader expansion in money supply.
Commenting on the development, Oluropo Dada, President of the Chartered Institute of Stockbrokers, noted that the combination of rising domestic assets, declining foreign assets and increasing money supply could have significant implications for inflation and exce rate ility.
He warned that the trend may increase demand for foreign exce, weaken investor confidence and expose the economy to imported inflation, urging policymakers to adopt tighter monetary measures and strengthen fiscal discipline.
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