The ICT industry has regularly had a double-digit contribution to the country’s Gross Domestic Product (GDP) during the previous three years, according to Prof. Isa Ali Ibrahim Pantami, Minister of Communications and Digital Economy.
“In the last three years, the ICT industry made three previously unheard-of contributions to the country’s Gross Domestic Product (GDP), namely 14.07% in Q1 2020, 17.92% in Q2 2021, and 18.44% in Q2 2022. On each occasion, these figures [have] represented the ICT sector’s highest-ever GDP contribution, the minister tells the media in Abuja on Monday to commemorate the third annual Digital Nigeria Day.
The occasion acts as a pre-briefing for the National Information Technology Development Agency’s upcoming Digital Nigeria Conference and Expo, which will take place from October 25–27. (NITDA).
“The ICT sector experienced a 14.70% growth rate in Q4 2020, making it the fastest-growing sector of the Nigerian economy and the only one to experience double-digit growth. This was essential in helping Nigeria emerge from recession. Additionally, through the sale of spectrum and sector-related taxes, the Federal Government’s quarterly income increased from N51.3 billion to N408.7 billion, he says, listing accomplishments of his ministry over the previous three years.
