Influence of Broad Money on Household Living Condition in Nigeria

Abstract

This study is aimed at assessing the influence of broad money on household living condition in Nigeria, the study will go a long way in revealing the household living condition of Nigerians and the way forward in addressing the consequences of the issue under study. The quantity theory of money was used to support the study variables usage and to also strengthen the study
findings. The study adopts/uses secondary data from World Bank, International Monetary Fund (IMF) and Central bank of Nigeria on monetary and microeconomic variables from 1973 to 2020.The collected data was analysed using correlation and simple regression with aid MINITAB 16. The study found that broad money has a negative effect on the household living condition in Nigeria. In-line with the finding, the study recommends that Policy makers specifically apex banks of Nigeria should put more attention on controlling persistent increase of broad money which is majorly caused by money multiplier and money creation by private banks that could be detrimental to household living condition and the general economic wellbeing of Nigerians.