The better than expected Q4’19 GDP growth of 2.55% failed to excite investors at the Nigerian Stock Exchange. The market lost 1.30% in 2 days. GDP growth was driven by oil revenue elastic sectors. This is why the sharp drop in oil prices by 2.43% to $57.08pb today due to the coronavirus fears may hinder Nigerian GDP growth in Q1’2020.
However, domestic commodity prices have been oblivious to the COVID-19 and Lassa fever scare so far, remaining flat this week.
In the slides, these issues and their impact were discussed by analysts at the FDC Think Tank on Channels TV Business Morning programme today.
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