Nigeria: Monetary freedom

The latest value from 2024 is 63.2 points, a decline from 65 points in 2023. In comparison, the world average is 67.58 points, based on data from 174 countries. Historically, the average for Nigeria from 1995 to 2024 is 67.13 points. The minimum value, 43 points, was reached in 1997 while the maximum of 78.9 points was recorded in 2001. See the global rankings for that indicator or use the country comparator to compare trends over time.

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.