Investor Presentaiton
A challenging operating environment
Key Highlights
High inflationary environment tapered growth momentum
22.04
20.77
21.34
18.6
17.75
16.63
15.63
15.92
5.01
4.03
3.98
3.11
3.54
3.52
2.25
2.31
Decline in revenue despite an increase in crude production
1.6
1.6
1.5
1.5
mthin
33.3
36.8
40.5
80.4
39.5
39.2 1.1
28 31
1.4
1.2
37.1
35.5
0.9
68.7
73.8
99.3
112.6
96.4
85.0
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
Q1 23
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
80.8
Q1 23
I GDP growth rate (%)
Inflation rate (%)
Progressive rise in rates notably on the longest dated security below
9.2
7.5
3.5
2.5
External reserve (USD billion)
Average Quarterly Brent oil price (USD/pb)
Steady increase in exchange rate
Crude oil production (mbpd)
11.4
12.0
10.5
461
448
7.5
6.3
432
6.5
416
412
410
410
4.9
3.3
7.5
6.1
4.9
4.5
3.5
3.5
3.8
3.0
2.5
2.5
2.4
1.8
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Avg. 91 days T/bills Stop rate
Avg. 182 days T/bills stop rate
Data source: NBS, CBN, OPEC, FMDQ
Q4 22
Q1 23
Q2 21
Q3 21
Q4 21
Q1 22
Avg. 364 days T/bills stop rate
Q2 22
Q3 22
Q4 22
Q1 23
■CBN/I&E Rate (NGN/USD)View entire presentation