Investor Presentaiton

- June 2023 NDU: "Seizing the opportunity” – in a nutshell میرا The recently undertaken PMS subsidy & FX reforms are historic: NGN 3.9 trn in savings in 2023 alone Stops Nigeria from going over a fiscal cliff Sets the stage for a new, upward investment, growth, and development trajectory Inflation impacts should be temporary but will be significant, so provide some timely, temporary and targeted assistance: Move to provide quick support: cash transfers can help shield poor and vulnerable HHs It can be done affordably relative to the resources getting freed up from the reform, and financing is available It can be done based on robust identification of recipients who need help the most, and transparently by digital methods Beyond the immediate assistance, consider formulating and communicating a new, broader COMPACT around: Restoring fiscal sustainability, while also supporting poor and vulnerable HHs to weather the adjustment Spending better, to tackle development priorities Sustainably spending more, based on mobilizing more revenues Entrench the new approach to macroeconomic stability and faster growth through continued reforms: FX policy: focused on maintaining a unified exchange rate with transparent price discovery based on FX supply and demand Monetary policy: focused on price- stability through coherent policies and a revitalized nominal anchor Fiscal policy: focused on rebuilding fiscal space, through careful control of total spending, spending better, and mobilizing more revenues Trade and structural policies: focused on removing the regulatory bottlenecks and constraints to trade, investment and growth NIGERIA THE WORLD BANK IBRD ⚫IDA | WORLD BANK GROUP 3

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