ABUJA (Min of Communication Report) – The National Bureau of Statistics (NBS), has revealed that the contribution of Information and Communication Technology (ICT) to Nigeria’s Gross Domestic Product (GDP) surpassed that of Oil and Gas in the second quarter of 2019.
This was made known in a report released on Tuesday, 2nd September, 2019. In the report, it was observed that the country’s GDP grew by 1.94% (year-on-year) in real terms in the second quarter of 2019 compared to the second quarter of 2018, which recorded a growth of 1.50%.
According to the report, the ICT sector contributed 13.85% to total nominal GDP in the second quarter of 2019 which is much higher than the 11.22% contributed in the same period in 2018.
The Minister of Communication Technology, Isa Pantami, observed that the significant contribution of the ICT sector to the GDP is as a result of the concerted efforts of the administration of President Muhammadu Buhari, especially the manner in which the implementation of the administration’s Economic Recovery and Growth Plan (ERGP) is being pursued.
He continued that these effort led to a sustained focus on growing the non-oil sector of the economy, especially ICT and the results witnessed are testimonies of impact of these efforts.
The Minister reiterated the Communication Ministry’s commitment to the economic diversification effort of the present administration and called on all stakeholders to support the President’s laudable initiatives aimed at taking Nigeria to the next level.
Philomena O. Oshodin (Mrs)
Information/Press & PR Unit.
9th September, 2019