Nigeria GDP: Sliding into recession

On Monday we learned about Q1 2020 GDP, up by 1.87% year-on-year (Q4 2019: +2.27% y/y) with Non-oil growth at just 1.55% y/y. The Non-oil growth drivers were Agriculture and Telecoms, but both showing slightly weaker growth than before. Going forward, we expect the large Trade sector to continue with negative growth (-2.82% in Q1), …