Thursday, December 8, 2022

ICT contributed 18.44% to Nigeria’s GDP in Q2 2022: NBS

Mr Pantami praised President Muhammadu for contributing immensely to the development of Nigeria’s IT industry.

• August 27, 2022
Pantami and Buhari
Minister of communications and digital economy, Isa Pantami and President Muhammadu Buhari

The National Bureau of Statistics (NBS) says the information and communication technology (ICT) sector contributed 18.44 per cent to ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022.

Femi Adeluyi, technical assistant to the Minister of Communications and Digital Economy, Isa Pantami, disclosed this in a statement on Saturday in Abuja.

According to the statement, the digital economy sector under Mr Pantami had continued its trend of playing a crucial part in the growth of Nigeria’s economy.

The statement said the oil sector contributed 6.33 per cent to the total real GDP in Q2 2022, which 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.” 

Mr Pantami said the sector’s growing contribution to the GDP resulted from the current administration’s commitment to the digital economy’s development.

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

The minister said the 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 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.

Mr Pantami congratulated stakeholders in the digital economy ecosystem for this 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 using ICTs.

The minister added, “This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.”


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