Minister commends ICT’s
Minister commends ICT’s Contribution to GDP
The Honourable Minister of Communications, Dr Isa Ali Ibrahim
Pantami, has hailed ICT’s contribution to GDP in the second
quarter. In the report released by National Bureau of Statistics
(NBS), the contribution of the Information and Communication
Technology (ICT) to Nigeria’s Gross Domestic Product (GDP)
surpassed that of Oil and Gas in the second quarter of 2019.
The report, released on Tuesday 2nd September, 2019, 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%. Furthermore, the non-oil
sector contributed 91.18% to the nation’s GDP in the second quarter
of 2019 as opposed to the 8.82% contributed to total real GP by the
oil sector. Particularly, 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 Honorable Minister 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, GCFR, especially the manner in which the implementation of
the administration’s Economic Recovery and Growth Plan (ERGP) is
being pursued. These efforts, he said, 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 Honorable Minister reiterated the Communication Ministry’s
commitment to the economic diversification efforts of the present
administration and called on all stakeholders to support Mr
President’s laudable initiatives aimed at taking Nigeria to the
next level.
Philomena O. Oshodin (Mrs)
Deputy Director/Head
Information/Press & PR Unit.