17.83 % ICT Contribution To GDP Impresses Minister

The non-oil sector, which includes ICT contributed 91.07 per cent to the nation’s GDP in Q2 2020 as opposed to the 8.93 per cent contributed to total real GDP by the oil sector.

Nigerian Communications and Digital Economy Minister, Isa Ali Pantami, does not support the proposed communications tax / Photo credit: Wikipedia
Nigerian Communications and Digital Economy Minister, Isa Ali Pantami, does not support the proposed communications tax / Photo credit: Wikipedia

The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, has expressed his pleasure with the growth of ICT’s contribution to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2020 (Q2 2020) which is now 17.83 per cent according to data released by the National Bureau of Statistics (NBS) on Monday.

ICT contribution to GDP in the second quarter of 2019 was 14.07 per cent.

The non-oil sector, which includes ICT contributed 91.07 per cent to the nation’s GDP in Q2 2020 as opposed to the 8.93 per cent contributed to total real GDP by the oil sector.

The Technical Assistant, Information Technology to the Minister of Communications and Digital Economy, Dr. Femi Adeluyi, in a statement said the increase of ICT sector to the GDP is a direct result of the focused and committed effort of the administration of President Muhammadu Buhari.

He said, “The strategic policy directions of the Federal Government include the inclusion of Digital Economy in the mandate of the Ministry, the unveiling and implementation of the National Digital Economy Policy and Strategy and the National Broadband Plan, amongst others.

“As at July 2020, the broadband penetration in the country was 42.02 per cent, translating to a percentage increase of almost double digits in less than 1 year. This is another remarkable achievement.”

“The unprecedented contribution of ICT to Nigeria’s GDP can also be attributed to dynamic and results-oriented leadership which has been acknowledged and appreciated by a wide spectrum of the stakeholders in the sector.”

Written by The Interview Editors

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