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Minister hails ICT contribution to GDP

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The Minister of Communications, Dr Isa Pantami, has hailed Information Communications Technology’s (ICT) contribution to the country’s Gross Domestic Product (GDP) in the second quarter  of 2019.

Pantami expressed the satisfaction in a statement signed by Mrs Philomena Oshodin, Head, Information/Press and Public Relations Unit on Monday in Abuja.

He said the significant contribution of the ICT sector to the GDP was as a result of the efforts the administration of President Muhammadu Buhari.

In the report released by National Bureau of Statistics (NBS), the contribution of the ICT to GDP surpassed that of Oil and Gas in the second quarter of 2019.

The report released on Sept. 2, stated that the country’s GDP grew by 1.94 per cent in real terms in the second quarter of 2019 compared to the second quarter of 2018 which recorded a growth of 1.50 per cent.

The non-oil sector contributed 91.18 per cent to the nation’s GDP in the second quarter of 2019 as opposed to the 8.82 per cent contributed to total real GP by the oil sector, it said.

NBS also said that ICT sector contributed 13.85 per cent to total nominal GDP within the period under review, a development it noted was much higher than the 11.22 per cent contributed in the same period in 2018.

The minister commended the manner in which the implementation of the administration’s Economic Recovery and Growth Plan (ERGP) was being pursued.

He said the efforts led to sustained focus on growing the non-oil sector of the economy, especially ICT adding that the results witnessed were testimonies of impact of such efforts.

Patanmi, who reiterated the ministry’s commitment to the economic diversification efforts of the Buhari-led administration, called on stakeholders to support the Federal Government’s initiatives aimed at taking Nigeria to the next level.

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