Nigeria: ICT sector contributes 17.83% to GDP, says NBS
Information, Communication and Technology (ICT) sector contributes 17.83% to the Gross Domestic Product (GDP) of Nigeria in the second quarter of 2020 (Q2 2020).
This is according to the report released by the National Bureau of Statistics (NBS) of the country.
Despite the country’s GDP decreased by minus six to10 per cent, year-on-year, in real terms in the second quarter of 2020, the ICT sector recorded a growth.
The decrease was largely attributable to significantly lower levels of both domestic and international economic activity during the quarter, which resulted from nationwide shutdown efforts aimed at containing the COVID-19 pandemic.
“The non-oil sector 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.
“It is worthy to note that the ICT sector contributed 17.83 per cent to the total real GDP in Q2 2020, 20.54 per cent higher than its contribution a year earlier and in the preceding quarter, in which it accounted for 14.07 per cent. This contribution is unprecedented.”