{
  "docId": "019dd923-5de0-76bd-a167-5164ae0b8a6c",
  "docSlug": "07ab1bf67211fb59",
  "documentTitle": "2025 Nigeria Budget and Economic Outlook",
  "authorId": "PwC",
  "authorName": "Strategy&",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 7,
  "pageCount": 95,
  "prevPage": 6,
  "nextPage": 8,
  "slideType": "situation_overview",
  "function": "establish_context",
  "density": "overcrowded",
  "nDataPoints": 10,
  "notes": "The slide uses a split-panel layout to categorize economic updates into Monetary Dynamics and Market Dynamics.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "paragraph",
    "icon_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5de0-76bd-a167-5164ae0b8a6c/7",
  "deckHref": "/decks/019dd923-5de0-76bd-a167-5164ae0b8a6c",
  "deckJsonHref": "/decks/019dd923-5de0-76bd-a167-5164ae0b8a6c.json",
  "deckAnchorHref": "/decks/019dd923-5de0-76bd-a167-5164ae0b8a6c#slide-7",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The Nigerian Stock Exchange market capitalisation grew by 51.3% to ₦61.9 trillion in December 2024 from ₦40.9 trillion recorded in December 2023.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd951-d9f2-7379-9e8d-095af40743a7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.15,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "image",
      "text": "Monetary Dynamics icon and Market Dynamics icon",
      "attrs": null,
      "subkind": "icon-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bea359c9-5ecb-4007-94b5-b378b8474a02",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.75,
        "x": 0.22,
        "y": 0.38
      },
      "kind": "list",
      "text": "CBN introduced new operational mechanisms for BDCs and IMTOs, adjusted the remunerable Standing Deposit Facility cap, cleared all Foreign Exchange backlogs, reintroduced the Retail Dutch Auction System to address unmet Foreign Exchange demand.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6df5a07f-489c-4293-abbd-c256b0e7c0b1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.75,
        "x": 0.22,
        "y": 0.6
      },
      "kind": "list",
      "text": "The Nigerian Stock Exchange market capitalisation grew by 51.3% to ₦61.9 trillion in December 2024 from ₦40.9 trillion recorded in December 2023.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7de3adc8-4136-4a4f-95c8-a136ee388e1c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.75,
        "x": 0.22,
        "y": 0.72
      },
      "kind": "list",
      "text": "Total capital importation into Nigeria stood at $1.25 billion in Q3 2024, a 91.35% increase compared to Q3 2023, but a 51.90% decline from Q2 2024.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9cf21992-7813-45ff-b975-506e4f06e73b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.75,
        "x": 0.22,
        "y": 0.26
      },
      "kind": "list",
      "text": "CBN maintained monetary policy tightening. It raised MPR by total of 875bps in 2024, from 18.75%in November 2023 to 27.5% in Novemeber 2024. Similarly, commercial bank CRR was raised from 32.5% in November 2024 to 50% in November 2024.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b96ed6fb-37b1-45f6-9668-30f10ee0a10e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.75,
        "x": 0.22,
        "y": 0.66
      },
      "kind": "list",
      "text": "Nigeria’s dual-tranche Eurobond offer in 2024 with yields over 10% was oversubscribed at $9.1 billion, aimed at funding the 2024 fiscal deficit.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c084b42e-12eb-4090-846c-2997d5feae04",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Market Capitalisation Growth: 51.3%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd951-d9f2-7379-9e8d-0d92204794c5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.75,
        "x": 0.22,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "The Central Bank of Nigeria (CBN) implemented orthodox monetary policies to stabilise the economy amid high inflation and exchange rate depreciation. These measures resulted in tighter liquidity and higher borrowing costs.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71f6b1d0-1a74-4de5-9a9d-bbcf201c7ab3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.75,
        "x": 0.22,
        "y": 0.52
      },
      "kind": "paragraph",
      "text": "The Nigerian Stock Exchange (NGX) recorded significant growth in market capitalisation, driven by strong performances in oil and gas, insurance, banking, and consumer goods. The bond market saw a rise in 10-Year Government Bond Yields.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb5689ee-588b-4cd4-8cb3-890fc446acdd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.3,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: NUPRC, NBS, CBN, Fitch, NGX, PwC Analysis",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1250da5b-7e61-4bbd-8cb8-229d676a5975",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Setting the context: 2024, highlights of economic resilience to multiple shocks (2/3)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "508cc1b0-1241-40f1-b3db-6149f74c5474",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Action Titles",
      "slug": "action-titles",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "019de8b6-0f6c-701f-b8dc-2fc142b0a8b1",
      "evidence": "Action title quotes 51.3% capitalisation growth insight",
      "confidence": 75
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 10,
      "from": 4,
      "beatId": "019de8b6-0bc4-70bf-9ef7-8fc123510a44",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": null,
      "evidence": "2024 reforms divider + macro dashboard + GDP/inflation trend charts",
      "position": 1,
      "confidence": 82,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 69,
      "from": 4,
      "beatId": "019de8b6-0c7b-7222-8e66-8934bb03c539",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Facts (What)",
      "beatSlug": null,
      "evidence": "Macro dashboards, sector charts, seven-issue diagnosis",
      "position": 1,
      "confidence": 65,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 10,
      "from": 5,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "019de8b6-0cd8-7694-8d0b-1ea29937bef1",
      "evidence": "KPI dashboard then three context slides plus GDP and inflation chart converge on 'reforms and resilience' verdict.",
      "position": 1,
      "objective": "Establish 2024 macro context through stacked indicator evidence",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 78,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}