The National Bureau of Statistics (NBS) has reported that the Information and Communication Technology (ICT) sector contributed 16.51% to Nigeria’s Gross Domestic Product (GDP) in real terms in 2022, up from the 15.51% it recorded in 2021.
The statistics agency in its just published ‘Nigerian Gross Domestic Product Report (Q4 2022)’, disclosed that in nominal terms, in the fourth quarter of 2022, the sector recorded 21.41% growth (year-on-year), representing a 15.70% points increase from the rate of 5.70% recorded in the same quarter of 2021, and 1.09% points higher than the rate recorded in Q3 2022.
The Bureau stated that quarter-on-quarter, the growth rate recorded by the sector was 18.16% while overall, the sector grew by 19.00% in nominal terms in 2022.
The NBS clarified: “The Information and Communications sector contributed 10.42% to the total Nominal GDP in the 2022 fourth quarter, higher than the rate of 9.88% recorded in the same quarter of 2021 and higher than the 9.58% it contributed in the preceding quarter.
“The total contribution of the sector in nominal terms in 2022 stood at 10.61%, higher than the 10.24% reported in 2021.
“The sector in the fourth quarter of 2022 recorded a growth rate of 10.35% in real terms, year-on-year.
From the rate recorded in the corresponding period of 2021, there was an increase of 5.32% points.
On a Quarter-on-Quarter, the sector exhibited a growth of 17.23% in real terms. Overall, the sector
grew by 9.76% in 2022”, it added.
The Bureau further indicated that of the total real GDP, the sector contributed 16.22% in the 2022 fourth quarter, higher than in the same quarter of the previous year in which it represented 15.21% and higher than the preceding quarter in which it represented 15.35%.
It maintained that the total contribution of the sector in real terms in 2022 stood at 16.51%, higher than the 15.51% reported in 2021
Based on the NBS clarification, the ICT sector composed of the four activities, namely Telecommunications and Information Services; Publishing; Motion Picture, Sound Recording and
Music Production; and Broadcasting.
