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ICT Records Highest Contribution Of 18.44% To Nigeria’s GDP

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Dr. Isa Ali Ibrahim Pantami, Minister of Communications and Digital Economy.

The National Bureau of Statistics (NBS) has revealed that the Information and Communications (ICT) sector has contributed 18.44 per cent to Nigeria’s Gross Product (GDP) in the Q2 of 2022.

This was made known in the report released by the NBS on the 26th of August 2022.

Reacting to the report, the Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami) showed excitement in the remarkable contribution of the report.

The NBS Report indicated that the ICT’s contribution of 18.44% to the total real GDP in Q2 2022 is the highest contribution ever of ICT to the GDP and is truly unprecedented.

However, this marks the third time that the digital economy sector has achieved an unprecedented contribution to Nigeria’s GDP during the tenure of Prof. Pantami and has continued its trend of playing a key part in the growth of Nigeria’s economy.

Prof. Panatami noted that the growing contribution of the ICT sector to the GDP is a result of the commitment of the administration of President Muhammadu Buhari, GCFR to the development of the digital economy. The diligent implementation of the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria, stakeholder engagement, and the creation of an enabling environment have all played an important role in this achievement.

“The support of President Muhammadu Buhari, GCFR, 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. The GDP Report has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy.”

In his remarks, he congratulated all stakeholders in the digital economy ecosystem for this cheering news. He also renewed his call to 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 it. This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.

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