The country’s Gross Domestic Product (GDP) has been boosted by the Information and Communication Technology sector; Minister of Communications and Digital Economy Dr Isa Ali Ibrahim Pantami has said.
The minister stated that the National Bureau of Statistics (NBS) Q1 2020 GDP report released on the 25th of May, 2020, was impressive.
According to him, “The Covid-19 pandemic has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy.
The minister stated that the NBS report observed that the country’s GDP grew by 1.87% (year-on-year) in real terms in Q1 2020.
“The non-oil sector contributed 90.50% to the nation’s GDP in Q1 2020 as opposed to the 9.50% contributed to total real GDP by the oil sector.
It is noteworthy that the ICT sector contributed 14.07% to the total real GDP in Q1 2020, higher than its contribution a year earlier (13.32%) and in the preceding quarter, in which it accounted for 13.12%.
The minister notes that the growing contribution of the ICT sector to the GDP is a direct result of the focused and committed effort of the administration of President Muhammadu Buhari.
This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP,” he said in a statement by his technical assistant (Information Technology) Dr Femi Adeluyi.No tags for this post.