Q4 2019 Real GDP Grows by 2.55% as COVID-19 Threatens Q1 2020 Growth Outlook

February 28, 2020/Cowry Asset

In line with our expectation, Nigeria’s real Gross Domestic Product grew year-on-year (y-o-y) by 2.55% to N19.53 trillion in Q4 2019, faster than 2.28% growth registered in Q3 2019.

The Non-oil sector, accounting for 92.68% of total GDP, was the main driver of growth having climbed 2.26% to N18.10 trillion in Q4 2019 (faster than +1.85% in Q3 2019). The agricultural sector, which accounted for 26.09% of total GDP, grew y-o-y by 2.31% in Q4 2019.

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