This study examines the relationship between monetary aggregates and economic growth with evidence from Nigeria. It examines the extent to which narrow and broad money supply relate to Nigerian Real Gross Domestic Product. Data collected were analyzed using multiple regression. The result of the study shows though broad money supply (M2) has a salutary effect on the performance of the economy as shown by the positive relationship it exhibits, the relationship is not such that monetary aggregates can significantly contribute to the performance of the economy. The paper recommends that since monetary aggregates are weak in achieving growth in the Nigerian economy, a combination of monetary and fiscal policy measures , perhaps will achieve the desired objective of growing the economy.