ICT sector contributes 18.44% to Nigeria’s GDP, says NBS

ICT sector contributes 18.44% to Nigeria’s GDP, says NBS

By Jessica Dogo, Abuja.

 

The National Bureau of Statistics (NBS) says the Information and Communication Technology (ICT) sector contributed 18.44 per cent to the Nigeria’s Gross Domestic Product in Q2, 2022.

 

Dr Femi Adeluyi, Technical Assistant, Research and Development, to the Minister of Communications and Digital Economy, Prof. Isa Pantami, made this known in a statement on Saturday in Abuja.

 

The statement said that the digital economy sector, under Pantami, had continued its trend of playing a key part in the growth on Nigeria’s economy.

 

Pantami, who was very excited to hear of the remarkable contribution of the ICT sector to Nigeria’s GDP in the quarter under review, noted that the oil sector contributed 6.33 per cent to the total real GDP in Q2, 2022.

 

He added that this was lower than the contribution in Q2, 2021 and Q1, 2022, where it contributed 7.42 per cent and 6.63 per cent respectively.

 

“The non-oil sector’s contribution grew by 4.77 per cent in real terms, resulting in a 93.67-per-cent contribution to the nation’s GDP in the Q2, 2022.

 

“This was higher than Q2, 2021 and Q2, 2022, where it contributed 92.58 per cent and 93.37 per cent respectively,” he said.

 

Pantami said that the growing contribution of the ICT sector to the GDP was as a result of the commitment of President Muhammadu Buhari’s administration to the development of the digital economy.

 

He added that the unprecedented contribution of ICT to Nigeria’s GDP could also be attributed to the dynamic and results-oriented leadership of the sector.

 

He, however, said that the Nigeria’s Gross Domestic Product Report had shown how critical the ICT sector was to the growth of the country’s digital economy and, by extension, the general economy.

 

“The diligent implementation of the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria, stakeholder engagement and creation of an enabling environment have all played an important role in this achievement.

 

“The support of President Muhammadu Buhari has contributed immensely to the impressive developments in the sector.

 

“The unprecedented contribution of ICT to Nigeria’s GDP can also be attributed to the dynamic and results-oriented leadership of the sector,” he said.

 

Pantami congratulated stakeholders in the digital economy ecosystem for the cheering news.

 

He called on all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs.

 

He added that “this would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.”

Share this post