Investor Presentaiton

XCELLON CAPITAL ADVISORS PEOPLE + IDEAS + SOLUTIONS Low average GDP growth rate ▸ Nigeria's annual real GDP growth rate, which averaged 7 percent from 2000 to 2014, fell to 2.7 percent in 2015 and to -1.6 percent in 2016. Growth rebounded to 0.8 percent in 2017, 1.9 percent in 2018, and then plateaued at 2 percent in the first half of 2019, where it is expected to remain for the rest of the year (World bank). The economy of Nigeria advanced by 2.25% from a year ago in the third quarter of 2022, decelerating from the second quarter's 3.54% expansion and missing market estimates of a 2.95% rise. This marks the eighth consecutive quarter of growth but at the slowest rate since the first quarter of 2021, attributable to the base effects of the recession and the challenging economic conditions that have hampered productive activities (Trading Economics). OVERVIEW OF THE ECONOMIC CLIMATE IN NIGERIA. 5 © 2023, Xcellon Capital

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