Investor Presentaiton
2023 External Environment | A tale of headwinds, a few tailwinds, and more
headwinds
Indefinite excise
increase suspension
Oil production
hits 1.35m bpd,
highest in 2023
%
Dangote receives 1st
batch of crude oil
for local refining
Q1 2023
Apr 2023
June 2023
July 2023
Aug 2023
Oct 2023
Nov 2023
Currency Note
Scarcity
ÅÅÅ
%
Triple beer excise
rate
announcement
☑
Fuel subsidy
removal
Election Tension
☑
Food Inflation
@ -24%
品
Official
devaluation
of the Naira
$
FX Crisis
Zero allocation
from the CBN
$
JP Morgan
reports lower FX
reserves => Naira
> 1000 vs USD
(vs. 550 Jan '22)
GSK announces planned
exit from Nigeria
را
Inflation @
~32%
Dec 2023
ר
+
P&G announces
planned exit of
local production
from Nigeria
$
Continued FX
deterioration -
parallel >N1,200
vs USD
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