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Nigerian economy: ICTs contribute 17.47% to Nigeria's real GDP

29/08/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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During the first quarter of 2023, information and communication technology (ICT) contributed 17.47% to Nigeria's real GDP, allowing the ICT sector to take an increasing role in the country's economy.

The latest data from the National Bureau of Statistics (NBS) mentions that information and communication technology (ICT) sector activities contributed 19.54% to Nigeria's real GDP in the second quarter of 2023. This figure is up from the 18.44% contribution of the sector in the second quarter of 2022 and 17.47% in the first quarter of 2023. The performance of the ICT sector was driven by that of the telecommunications subsector, which contributed 16.06% to real GDP during the period under review. This represents 82.19% of the contribution of the ICT sector. The best performing subsector after telecommunications is broadcasting with a contribution of 2.59%

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