Investor Presentaiton
CONFIDENTIAL
Nigeria Overview: Major Economic Policy Initiatives
May 29 - June 30
Announcement of removal of subsidies
on premium motor spirit (petrol/fuel) to
create fiscal space
National Assembly approves the
securitisation of N22.7 trillion Ways and
Means Advances of the Central Bank
of Nigeria (CBN) to the Federal
Government of Nigeria (FGN).
Removal of the FX controls on 43 items
and unification of all the Nigerian FX
windows into a single investors and
exporters (I&E) window
Nigeria's Monetary Policy Committee
(NPC) of the CBN raised Monetary
Policy Rate by 25 bps to 18.75%
Q3,2023
Rating agency, S&P, revised Outlook
for Nigeria to Stable from Negative on
August 4, 2023.
Nomination of Governor of the CBN
and Executive Chairman of the
Federal Inland Revenue Services (FIRS)
Inauguration of the Presidential
Committee on Fiscal Policy and Tax
Reforms
Q4,2023
BANK OF INDUSTRY
...transforming Nigeria's industrial sector
National Assembly (NASS) passed 2023
Supplementary Appropriation Act of
N2.177 trillion and approved the 2024 -
2026 Medium Term Expenditure
Framework and Fiscal Strategy Paper
(MTEF&FSS)
NASS confirmed the nominations of the
Governor of the CBN plus four (4)
Deputy Governors and Executive
Chairman of FIRS
FGN and Labour agreed on wages
increases
Rating agency, Moody's, revised
Outlook for Nigeria to Positive from
Stable on December 8, 2023
The President presented 2024
Appropriation Bill to the NASS, which was
signed into law on January 1, 2024
Afreximbank announced an initial
disbursement of US$2.25 billion under a
syndicated US$3.3 billion Crude Oil
Prepayment Facility sponsored by the
Nigerian National Petroleum Company
(NNPC) Limited on January 12, 2024
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