ICT Sector Records 17.9 percent Contribution To Nigeria’s GDP in Q2 2021 – FG

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The information and communication technology (ICT) sector recorded a 17.92 percent contribution to Nigeria’s gross domestic product (GDP) in quarter two of 2021, according to the Federal Government.

The Minister of Communications and Digital Economy, Isa Pantami made this known on Tuesday at the launch of the Nigerian Communications Commission (NCC) strategic vision plan for 2021-2025 in Abuja.

The Information and Communication Technology (ICT) sector recorded 17.92 percent contribution to GDP in Q2, 2021 compared to 14.91 percent in Q1 2021 and 17.83 percent in the previous year.

The Minister who represented President Muhammadu Buhari stated that the record is “unprecedented” in Nigeria’s history

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“I begin by commending the effort of NCC board for coming up with these three important initiatives that are in alignment with the three priority areas of president Muhammadu Buhari’s administration,” he said.

“This effort of the board and the management is highly commendable and I do hope that they will maintain the tempo and ensure that the two things that are going to be unveiled here… are going to be implemented effectively.

“Furthermore, I want to use the opportunity to convey to all our stakeholders here that a letter I personally received from my boss, president Muhammadu Buhari on the 30th of August 2021 which is just about one week and I think the content of the letter is not for me but for all the stakeholders in the digital economy sector and I am glad that this is the best avenue to convey the message.

“A report was presented to President Muhammadu Buhari about the performance of the ICT sector in Nigeria in so many areas, particularly in that report Mr president read that the performance of the ICT sector in the second quarter of 2021 by contributing 17.92 percent to our nation’s gross domestic product (GDP) is unprecedented in the history of Nigeria and ICT as a sector.

“Then Mr president minuted the content to me by just saying honourable minister, communications and digital economy, he underlined it and said well done. He signed and dated it. That is just the content of the letter — just well done. And I read it, I said this is just the message. And I think this well done is not just for Isa but rather for all the stakeholders”.

Pantami noted that the “well done” should be accorded every stakeholder in the ICT sector because without them “nothing can be achieved”.

He stated further that the federal government will only apply policies that will allow businesses to thrive in the country.

“A tree can never become a forest, it is only the collection of many trees that will produce a forest. I think this well done should be extended to our friends and legislators of both chambers of the national assembly,” he said.

“In government, we have realised that our main function is to provide the enabling environment for the private sector to thrive. To come up with policies that will make the sector more profitable, that will make the sector more secured to come up with developmental regulations that will ensure development not to unnecessarily jeopardised it”.

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