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Home » Pantami Excited As ICT Contributes Unprecedented 14.07% To Nigeria’s GDP
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Pantami Excited As ICT Contributes Unprecedented 14.07% To Nigeria’s GDP

mmBy Rommy Imah1 June 2020No Comments2 Mins Read
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PANTAMI9
Dr. Isa Ali Pantami,Minister of Communication and Digital Economy
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Nigeria’s Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami has expressed delight in the growth of ICT’s contribution to Nigeria’s GDP in the first quarter of 2020 (Q1 2020).

Recall that the National Bureau of Statistics (NBS) released ‘Nigeria’s Gross Domestic Product Report’ for Q1 2020 on the 25th of May, 2020.

The report observed that while 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%. This contribution is unprecedented,” the Minister said in a statement.

Pantami noted 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.

“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.

“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,” he said.

The Minister called on all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs, explaining that this would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.

READ ALSO  Pantami Charges Danbatta, NCC To Redouble Efforts Towards Actualising Digital Economy Agenda
14.07% Contribution ICT Nigeria’s GDP Pantami
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Rommy Imah
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Rommy Imah is Founder/Editor of Digital Times Nigeria (www.digitaltimesng.com). He has been in active journalism in over two decades with a bias for technology and business reporting. He is particularly passionate about technology and how it can be used to transform human life, businesses and services.

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