Market Review: Nigeria's GDP Q2, 2020 - Financial Service, ICT, Agro Sectors to Drive Growth - Johnson Chukwu
The Financial Services sector, Information and Communications Technology (Telecommunications) and the Agric sector (Crop production) are key sectors that will continue to drive growth in Nigeria, despite the Q2, 2020 GDP report of the nation which according to the National Bureau of Statistics, NBS revealed a contraction of -6.0%.
Mr Johnson Chukwu, Group Managing Director, Cowry Asset Management disclosed this as a guest on the WebTV Market review program anchored by Ottoabasi Abasiekong .
According to him the Nigerian equities market mirrors activities in the economy, and quoted companies in the aforementioned three sectors, will drive the performance of the market.
He projected that despite the contraction in the Q2, 2020 GDP the Q3, 2020 will still witness a contraction (recession) but at a moderate level.