Investor Presentaiton
GLOBAL BACKDROP: OIL PRICES HAVE DROPPED SINCE LAST NDU, BUT
ARE STILL ABOVE AVERAGE - YET NIGERIA HAS NOT BEEN BENEFITING
Oil prices dropped in H1 2023 but remained above the
but after recovering from the COVID-19 shock,
US$/bbl
160
140
average price of the last two decades...
120
100
80
May
60
60
40
20
Average 2006-2019 = US$62.8/bbl
0
May-06
May-07
May-08
May-09
May-10
May-11
Percent
6.0
Crude oil price
4.0
May-12
May-13
May-14
May-15
May-16
May-17
May-18
May-19
May-20
May-21
NIGERIA
THE WORLD BANK
IBRD ⚫IDA |
WORLD BANK GROUP
Sources: CBN
May-22
Mav-23
2.0
0.0
Historical average of
-2.0
Real GDP growth
2018-19
2.1 percent
-4.0
-6.0
-8.0
growth has softened
Q1 2018
Q2 2018
Q3 2018
Q4 2018
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Sources: NBS
Real GDP growth
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
6
2.4View entire presentation