Investor Presentaiton

AS A RESULT, PUBLIC DEBT INCREASED TO 40 PERCENT OF GDP As external markets were closed, the federal government borrowed more mainly from CBN to finance its deficit In 2022, the FGN was unable to meet its budgeted borrowing targets, resulting in more financing from the CBN... Naira billion 8000 and pushing debt service above 100 percent of revenues Percent of revenue 120.0 Percent of GDP 45.0 7000 6000 Budget 5000 Actual 4000 3000 2000 1000 0 40.0 Debt service (rhs) 100.0 35.0 30.0 80.0 25.0 60.0 20.0 Public debt stock 15.0 40.0 10.0 20.0 5.0 -1000 Domestic Borrowing External Borrowing CBN Ways and (excl. Means 0.0 0.0 2015 2016 2017 2018 2019 2020 2021 2022 NIGERIA THE WORLD BANK IBRD ⚫IDA | WORLD BANK GROUP multilateral/bilateral loans) Sources: BOF and OAGF Sources: CBN and OAGF and World Bank estimates. 14

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