May 28, 2021/Cowry Asset Report

In the first quarter of 2021, Nigeria printed a year-on-year (y-o-y) real output growth rate of 0.51% to N16.83 trillion (or USD112.24 billion) as it further recovered from last year’s recession, albeit slowly.

So far, we have seen FG significantly ease lockdown measures as households and businesses have been allowed to resume economic activities, but not fully.

Although the country’s recovery rate from recession appeared rather slow, the several billions of Naira in economic stimulus packages provided by the monetary and fiscal authorities to help households and businesses cope with the effects of COVID-19 supported the fragile economic recovery.

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