Nigeria: Monetary freedom

* indicates monthly or quarterly data series

Monetary freedom index (0-100)

 Latest value 63.20
 Year 2024
 Measure points
 Data availability 1995 - 2024
 Average 67.13
 Min - Max 43.00 - 78.90
 Source The Heritage Foundation
For that indicator, we provide data for Nigeria from 1995 to 2024. The average value for Nigeria during that period was 67.13 points with a minimum of 43 points in 1997 and a maximum of 78.9 points in 2001. The latest value from 2024 is 63.2 points. For comparison, the world average in 2024 based on 174 countries is 67.58 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Nigeria - Monetary freedom - Recent values chart

Historical chart
Nigeria - Monetary freedom - historical chart - 1995-2024

The Monetary Freedom index for Nigeria from The Heritage Foundation reflects the stability of prices in Nigeria and the use of price controls by the government. Price stability with minimal price controls is the ideal state for the free market.
Definition: The score for the Monetary freedom index is based on two factors: the weighted average inflation rate for the most recent three years and price controls. Higher index values denote price stability without microeconomic intervention.

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 Related indicators Latest value Reference Measure
 Property rights 25 2024 points
 Freedom from corruption 22 2024 points
 Fiscal freedom 44 2024 points
 Business freedom 43 2024 points
 Labor freedom 74 2024 points
 Monetary freedom 63.20 2024 points
 Trade freedom 68 2024 points
 Investment freedom 45 2024 points
 Financial freedom 40 2024 points
 Economic freedom, overall index 53 2024 index points
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