Wednesday, April 14, 2021
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14.07% ICT contribution to Nigeria’s GDP unprecedented – Pantami

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tiamin rice

The Minister of Communications and Digital Economy, Dr Isa Pantami, has described as unprecedented the 14.07 per cent contribution of the Information and Communications Technology, ICT, sector to the nation’s Gross Domestic Product, GDP.

DAILY NIGERIAN reports that the National Bureau of Statistics NBS, had released Nigeria’s GDP report for Q1 2020 on May 25 in which ICT’s contribution grew to 14.07% in the Q1 of the year 2020.

Reacting, Mr Pantami, in a statement signed by his Technical Assistant on Information Technology, Dr Femi Adeluyi, on Sunday in Abuja, said he was delighted to hear of the growth, especially in the first quarter of the 2020.

According to him, ”The Report observed that the country’s GDP grew by 1.87 per cent year-on-year in real terms in Q1 2020.

”The non-oil sector contributed 90.50 per cent to the nation’s GDP in Q1 2020 as opposed to the 9.50 per cent contributed to total real GDP by the oil sector.

”It is noteworthy that the ICT sector contributed 14.07 per cent to the total real GDP in Q1 2020, higher than its contribution a year earlier, which was 13.32 per cent and in the preceding quarter, in which it accounted for 13.12 per cent.

”This contribution is unprecedented,” he said.

Mr Pantami said that the growing contribution of the ICT sector to the GDP, was a direct result of the focused and committed effort of the Federal Government.

He said the Federal Government strategic policy direction included inclusion of Digital Economy in the mandate of the Ministry, unveiling and implementation of National Digital Economy Policy and Strategy as well as National Broadband Plan, among others.

The minister noted that the COVID-19 pandemic had shown how critical the ICT sector was to the growth of the country’s digital economy and by extension, the general economy.

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

“This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP,” he said.

NAN

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