Nigeria's information and communications technology (ICT) sector continues to drive the country's economic growth, with the World Bank attributing a 10.3% year-on-year expansion in Q1 2023 to increased consumption of data services and rising subscriber numbers.
In 2022, the ICT sector contributed N12.32tn ($29bn) to real GDP, up from N11.23tn the previous year, and N21.15tn to nominal GDP, up from N17.78tn in 2021.
The sector was responsible for driving the service sector, contributing 56.27% of the aggregate GDP in Q4 2022.
ICT's contribution to GDP now exceeds that of the oil and gas sector by three times, according to the former Minister of Communications and Digital Economy, Isa Pantami.
Share Your Thoughts