The NBS first quarter of 2021 review, reveals that the nation’s economy grew by 0.51 per cent (year-on-year) in real terms.
The news of the contribution of the ICT sector was received with joy by the Minister of Communications and Digital Economy Isa Pantami, who was excited that the sector is increasingly becoming a major contributor to the Nigerian economy.
A statement by the technical assistant to the Minister on information technology Dr Femi Adeluyi, quoted NBS to have stated that in terms of contribution to aggregate GDP, the oil sector accounted for 9.25 percent of aggregate real GDP in Q1 2021, while the non-oil sector accounted for 90.75 percent of aggregate GDP in the first quarter of 2021.
The bureau also noted that the growth in the non-oil sector was driven mainly by the information and communication sector while other drivers include agriculture (crop production); manufacturing (food, beverage & tobacco); real estate; construction and human health & social services.
The communications minister said the ICT sector grew by 6.47 per cent in Q1 2021, making it the fastest growing sector of the Nigerian economy.
The statement noted that post and courier services grew by 2.53% in Q1 2021, adding that the services are under the supervision of the Ministry of Communications and Digital Economy, but currently listed under the transportation sector in the GDP report.
The minister attributed the consistent positive performance of the ICT sector to the focused and committed support for the administration of President Muhammadu Buhari, for the Digital Economy sector.
The National Bureau of Statistics has reported that the nation’s economy grew by 0.51 per cent (year-on-year) in real terms in the first quarter of 2021, marking two consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.
The report noted that in terms of contribution to aggregate GDP, the oil sector accounted for 9.25 per cent of aggregate real GDP in Q1 2021, while the non-oil sector accounted for 90.75 per cent of aggregate GDP in the first quarter of 2021.
The bureau also noted that the growth in the non-oil sector was driven mainly by the information and communication sector while other drivers include agriculture (crop production); manufacturing (food, beverage & tobacco); real estate; construction and human health & social services.
The communications minister said the ICT sector grew by 6.47 per cent in Q1 2021, making it the fastest growing significant sector of the Nigerian economy.
The statement noted that post and courier services grew by 2.53% in Q1 2021, adding that the services are under the supervision of the Ministry of Communications and Digital Economy, but currently listed under the transportation sector in the GDP report.
The minister attributed the consistent positive performance of the ICT sector to the focused and committed support for the administration of President Muhammadu Buhari, for the Digital Economy sector.
