Investor Presentaiton

15 INFLATION CONTINUED INCREASING AND REACHED A 17-YEAR HIGH Nigeria's high, structural inflation worsened as monetary and fiscal policy remained loose In contrast to the global trend, Nigeria's inflation Percent 25 surged in H1 2023... ...and policy rate increases were ineffective in controlling inflation because the overall policy stance stayed loose Index (2019-100) Percent 21.0 20 20 110 Nigeria 105 100 95 TIGHTER MONETARY POLICY Дам Monetary conditions index 10 00 90 Kenya South Africa MPR (rhs) UK 85 5 US 80 0 Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19 NIGERIA THE WORLD BANK IBRD ⚫IDA | WORLD BANK GROUP Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 75 Apr-11 Oct-11 Apr-12 Oct-12 Apr-13 Source: CBN, WDI, FMDQ, World Bank 19.0 17.0 15.0 13.0 11.0 9.0 LOOSER MONETARY POLICY 7.0 Oct-13 Apr-14 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 Apr-23 5.0 6

View entire presentation