According to the National Bureau of Statistics (NBS), the Information and Communication Technology (ICT) industry contributed 18.44% of Nigeria’s GDP for Q2 2022.
Dr Femi Adeluyi, Technical Assistant Research and Development to the Minister of Communications and Digital Economy, made the announcement in an Abuja statement on Saturday.
Adeluyi stated that the digital economy sector, led by Prof. Isa Pantami, has continued to play an important role in the expansion of Nigeria’s economy.
Pantami, the Minister of Communications and Digital Economy, was overjoyed to learn of the ICT sector’s significant contribution to Nigeria’s GDP in the quarter under review.
According to him, the oil industry provided 6.33 percent of total real GDP in Q2 2022, which was lower than the 7.42% and 6.63% contributions in Q2 2021 and Q1 2022, respectively.
“In real terms, the non-oil sector’s contribution increased by 4.77 percent, culminating in a 93.67 percent contribution to the nation’s GDP in Q2 ‘2022.
“This was greater than in the second quarters of 2021 and 2022, when it contributed 92.58 percent and 93.37 percent, respectively,” he added.
Pantami stated that the sector’s increased contribution to GDP was due to the present administration’s dedication to the growth of the digital economy.
According to him, the extraordinary contribution of ICT to Nigeria’s GDP may also be ascribed to the sector’s dynamic and results-oriented leadership.
He did, however, say that the Report demonstrated the importance of the ICT sector to the expansion of the country’s digital economy and, by extension, the whole economy.
“Stakeholder participation, as well as the careful execution of the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria, have all played a significant role in this success.”
“President Muhammadu Buhari’s backing has greatly contributed to the sector’s excellent developments.”
“The sector’s dynamic and results-oriented leadership may also be ascribed to the unparalleled contribution of ICT to Nigeria’s GDP,” he added.
Pantami applauded players in the digital economy ecosystem for the good news.
He urged all sectors to leverage the Federal Government’s renewed emphasis on the digital economy to empower and enhance their processes through the use of ICTs.
“This will increase the production of all sectors of the economy and raise Nigeria’s GDP,” he continued.
