Abstract: This paper re-assesses the effect of monetary policy on health and economic growth in Nigeria from 1986 to 2016 using secondary data collected from Central Bank Bulletin. Fully Modified Ordinary Least Square (FMOLS), Unit root test and co-integration test were carried out. The macroeconomic variables employed include, Gross Domestic Product, money supply, real interest rate, real exchange rate, consumer price index, bank rate, health index and prime lending rate.