Nigeria's Net Domestic Assets Surge to N101 Trillion

Nigeria's net domestic assets (NDA) have risen to N101 trillion in July 2026, according to data from the Central Bank of Nigeria (CBN). This represents a significant increase of 27.1% compared to the previous year's figure of N79.4 trillion.

The rise in NDA is seen as a positive development, indicating that the country's domestic sources are increasingly contributing to Nigeria's liquidity growth. However, the CBN's data also shows that Nigeria's net foreign assets (NFA) declined by 6.6% to N37.3 trillion in July 2026, from N40 trillion in the same period of the previous year.

The Central Bank of Nigeria attributes the decline in NFA to the fall in foreign reserves and foreign investments, reflecting the external pressures faced by the country's economy.

Analysts have expressed concern that the significant increase in NDA may not necessarily translate into a corresponding growth in productive economic activities. According to Clifford Egbomeade, an economic and communications analyst, "The rise in NDA should be viewed with caution as a significant expansion of domestic assets, particularly when associated with government borrowing, may increase liquidity without necessarily translating into equivalent growth in productive economic activities."

The Central Bank of Nigeria's data also indicates that the broad money supply (BM) increased by 14.8% to N249 trillion in July 2026, from N218 trillion in the same period of the previous year.

Central Bank of Nigeria Data Highlights Economic Developments

• Net Domestic Assets (NDA) rose by 27.1% to N101 trillion in July 2026
• Net Foreign Assets (NFA) declined by 6.6% to N37.3 trillion in July 2026
• Broad Money Supply (BM) increased by 14.8% to N249 trillion in July 2026
• Central Bank of Nigeria data reveals a positive development in Nigeria’s economy

The Central Bank of Nigeria's data indicates that the country's economy is experiencing positive developments, with the increase in Net Domestic Assets (NDA) and Broad Money Supply (BM), and the decline in Net Foreign Assets (NFA) and Government Securities (GS) reflecting the external pressures faced by the country's economy.

<small>Source: Vanguard News — read the original story there.</small>