Investor Presentaiton
The Operating Environment
IMF revised its 2021 GDP growth forecast for
Nigeria to 2.5% from its earlier projection of 1.5%,
citing stronger economic recovery as the count of
Covid-19 vaccination increase.
Headline inflation inched up further for the 19th
consecutive months from 11.0% in Aug 2019 to
18.2% in March 2021.
High food prices, insecurity and the pass-through
effect of the Covid-19 pandemic etc. led to
constantly rising inflation rate.
Average crude oil prices (Bonny Light) increased
by 45.4% to $61.3pb in Q1 2021 from $42.1pb in
2020FY with the highest and lowest prices at
$69.4pb in Mar and $50.7 in Jan 2021 respectively.
Crude prices are currently above $65.0pb while
the daily crude oil production averaged
1.48mbpd in Q1 2021.
External reserves stood at $34.8bn on 31 Mar 2021.
Real GDP Growth
2.6%
1.9%
0.1%
Q1 '19
Q2'20
Q4'20
-3.6%
-6.1%
Headline Inflation (%)
18.2
13.7
12.3
16.5
14.9
12.4
12.8
Mar-20 May-20 Jul-20
Sep-20
Nov-20 Jan-21 Mar-21
Bonny Light ($ per Barrel)
63.0
43.6
46.7
39.7
55.2
15.3
33.9
Mar-20 May-20 Jul-20 Sep-20 Nov-20 Jan-21 Mar-21
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