Investor Presentaiton
Conclusion
Response has been people oriented to protect citizen's health, jobs and the real economy
Nigeria is responding effectively to the twin shocks of the Global Pandemic and the Drop in Oil Price/Economic Contraction
○ Economic management team duly recognized the scale of the fiscal/budget, BOP and health challenges
○ Economic Sustainability Plan launched to replace Vision 2020
О
Quick Combined Reaction: HMFB&NP and her economic team; Monetary Policy authorities and Health/Pandemic Management
teams (FMH/NCDC/PTF); have all acted decisively and quickly
Thus far, the Nigerian health systems and isolation centers have not been overwhelmed by the COVID-19 pandemic. Number of
fatalities remains low relative to population size. Vigorous oversight by the authorities will continue
The Nigerian economy is ultimately resilient due to favourable demographics and a diversified real economy in which Government's
share of economic activity is relatively small
✓ We are confident that the informal and resilient private sector will continue to anchor a large domestic economy
✓ Access to external concessional funding: The IMF RFI approved by the IMF Board in May. Ongoing discussions with the World Bank
and other MLA's will raise the required amount of concessional external funding >$6.5Bn, to see the FGN through 2020. Balance to be
raised in domestic debt market
Deep domestic debt market will adequately provide the balance required to plug the gap without crowding out the private sector
✓ Adequate reserves buffer to weather external shocks
Federal Ministry of
Finance, Budget and
National Planning
15View entire presentation