ICT sector grows GDP contribution to 14.07%, says NBS

Nigeria's information communications technology (ICT) sector grew the nation’s  gross domestic product (GDP) to 14.07%, during first quarter (Q1) this year, data body, the National Bureau of Statistics (NBS) has said in its latest report.

Titled: ‘Nigeria’s Gross Domestic Product Report’ for Q1 2020, it showed  that the 14.07 per cent was higher than that of last year which stood at 13.32per cent and in the preceding quarter, in which it accounted for 13.12per cent.

NBS said the country’s GDP grew by 1.87 per cent (year-on-year) in real terms while the non-oil sector contributed 90.50per cent to the GDP during the period as against the 9.50per cent contributed to total real GDP by the oil sector.

Commenting on the new numbers, the Minister of Communications and Digital Ecionomy, Dr Isa Pantami, said the growing contribution of the ICT sector to the GDP, is a direct result of the focused and committed effort of the administration of President Muhammadu Buhari.

He said the strategic policy directions of the Federal Government include the inclusion of Digital Economy in the mandate of the Ministry, the unveiling and implementation of the National Digital Economy Policy and Strategy and the National Broadband Plan, amongst others.

“The COVID-19 pandemic has shown how critical the ICT sector is to the growth of our country’s digital economy and by extension, the general economy,” he said. 

He urged other sectors of the economy to take advantage of the Federal Government’s new focus on digital economy, to enable and improve their processes through the use of ICT.

Share this News
Share |
Subscribe to our Daily Newsletter here