ICT's contribution to GDP excites Pantami

The contribution of the Information and Communications Technology sector to Nigeria's Gross Domestic Product is a thing of joy for Minister of Communications and Digital Economy, Dr Isa Pantami.

This is coming after Pantami learnt that ICT contributed 14.07% to Nigeria's GDP in Q1 2020 according to the information revealed by the Nigerian Bureau of Statistics.

The report revealed that the nation's GDP grew by 1.87% based on the contributions of the non-oil sector in Q1 2020. The non-oil sector contributed 90.5% to the nations GDP and ICT's contribution increased from 13.32% in Q1 2019 to 14.07% in Q1 2020.

In a statement, Pantami stressed that the growth in ICT is as a result of Buhari's committed effort.

Going further, the Minister said ICT is the new oil and emphasized its importance to the economy's growth.

"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 Honorable Minister calls 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," the statement read in part.

PRESS STATEMENT

ICT CONTRIBUTES 14.07% TO NIGERIA’S GDP#FMoCDEStatement#DigitalNigeria pic.twitter.com/XIjq96EL0K

— Isa Ali Pantami, PhD (@DrIsaPantami) May 30, 2020