The information and communication technology sector is taking up more and more space in the Nigerian economy. During the first quarter of 2023, ICT contributed 17.47% to the country’s real GDP.
Information and Communication Technology (ICT) sector activities contributed 19.54% to Nigeria’s real GDP in the second quarter of 2023, according to the latest data from the National Bureau of Statistics (NBS). This figure is higher than the sector’s contribution in the second quarter of 2022 which was 18.44% and the 17.47% in the first quarter of 2023.
During the second quarter of 2023, the performance of the ICT sector was driven by that of the telecommunications sub-sector, which contributed 16.06% to real GDP. This represents 82.19% of the contribution of the ICT sector. The best performing sub-sector after telecommunications is broadcasting with a contribution of 2.59%.
“ This growth is the result of the rate of digital knowledge in the economy; many Nigerians have been empowered with digital literacy, especially when it comes to broadband penetration. The industry has also increased its services in rural areas, which means that the technology is gradually moving towards the underdeveloped and talentless environments of the economy ,” said Ajibola Olude, Secretary General of the Association of Telecommunications Companies. of Nigeria (ATCON).
Recall that the growing contribution of the ICT sector to the Nigerian economy continues despite the many challenges the sector has faced since the beginning of the year. These include the increase in operating costs, the reduction in the number of subscribers to telecommunications services, etc.