The Information and Communications sector contributed a combined N8.5tn to the country’s nominal Gross Domestic Product in fourth quarter of 2020 and the first quarter of 2021.

This was revealed by an analysis of GDP data for the two quarters under review obtained from the National Bureau of Statistics.

According to the NBS, the information and communication sector is composed of the four activities of telecommunications and information services; publishing; motion picture, sound recording and music production; and broadcasting.

According to Investopedia, nominal GDP is an assessment of economic production in an economy that includes current prices in its calculation.


In simple terms, it doesn’t strip out inflation or the pace of rising prices, which can inflate the growth figure. All goods and services counted in nominal GDP are valued at the prices that are actually sold for in that year.

In Q1 2021, aggregate GDP stood at N40.01 in nominal terms, indicating a year-on-year nominal growth rate of 12.25 per cent, compared to N35.65tn in Q1 2020.

The nominal GDP growth rate in Q1 2021 was higher compared to 12.01 per cent growth recorded in Q1 2020 and the 10.07 per cent growth recorded in the preceding quarter.

See also  Can your PCs self-heal? Check out the HP EliteBook PC security

In Q1 2021, the sector grew at 7.86 per cent (year-on-year), 1.07 per cent lower than the rate of 8.94 per cent recorded in the same quarter of 2020, and 8.46 per cent lower than the rate recorded in the preceding quarter.

The information and communications sector contributed 9.91 per cent to total nominal GDP in Q1 2021, lower than the rate of 10.31 per cent recorded in the same quarter of 2020 and 10.58 per cent contributed in the preceding quarter.

In Q4 2020, the GDP grew by 0.11 per cent in real terms, while aggregate GDP stood at N43.56tn in nominal terms. This performance is higher when compared to Q4 2019, which recorded a GDP aggregate of N39.58tn, representing a year-on-year nominal growth rate of 10.07 per cent.

In nominal terms, the information and communications sector recorded 16.32 per cent growth (year-on-year) in the fourth quarter of 2020, a 6.46 per cent points increase from 9.86 per cent recorded in the same quarter of 2019, and 0.41 per cent points from rates recorded in the preceding quarter.

See also  Apply NOW for the $5,000 NEFT Emerging Film Talent International Short Film Competition

The sector contributed 10.58 per cent to total nominal GDP in the Q4 2020, higher than the 10.01 per cent recorded in the same quarter of 2019 and the 9.57 per cent it contributed in the preceding quarter.

It was earlier reported in the year that the Minister of Communications and Digital Economy, Isa Pantami, said the ICT sector recorded the highest growth rate among all the sectors of the Nigerian economy in both the fourth quarter of 2020 and the entire year of 2020.

According to the minister, the ICT sector is a catalyst for the diversification and growth of the economy.

The GSMA Association said in its ‘The Mobile Economy 2021’ report that in 2020, mobile technologies and services generated $4.4tn of economic value added (5.1 per cent of GDP) globally. It said that this figure would grow by $480bn by 2025 to nearly $5tn.

It added that the mobile industry supported approximately 25 million jobs (directly and indirectly) and made a substantial contribution to the funding of the public sector, with more than $410bn raised through taxes on the sector.

929 thoughts on “ICT contributes N8.5tn to nominal GDP in six months”

  1. Pingback: 1apartment
  2. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Please stand by, while we are checking your browser… OLG’s records, as maintained in the iGaming System (and or OLG’s central computer-controlled online system, in the case of a Draw-Based Lottery Game Played Online), will be the final authority in determining the circumstances of a Player’s participation in the relevant Game and the results of such participation. In the event of a disagreement between the result that appears on a Player’s screen and the relevant Game servers (and or OLG’s central computer-controlled online system, in the case of a Draw-Based Lottery Game Played Online), the result that appears in the Game servers (and or OLG’s central computer-controlled online system, in the case of a Draw-Based Lottery Game Played Online) will prevail. Play our Game of the Month to secure your monthly Free Spins No Deposit Bonus! Enjoy this free bonus to win real money, no codes needed. New players will receive $125 No deposit bonus plus 350% First deposit bonus. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Planet 7 Casino presents a handful of bonuses and promotions on a daily, weekly and monthly basis. These bonus offers are a great way to instantly increase the time and money you can spend while playing your favourite casino games. However what use would these bonuses be if you don’t know how to claim them? This is why, the experts at casino leader have carved out a simplye guideline that you can follow for a hassle free claiming process. To claim Planet 7 Casino Bonuses and Promotions, a player needs to follow the below mentioned steps :

  3. Jednoduché stávkovanie Existuje veľká šanca, či ich môžeme odporučiť alebo nie. Čas na vrátenie platby v službe Google Play, je dôležité poznať pravidlá hry. Okrem toho je neuveriteľne jednoduchý a mohol by ho ľahko aplikovať každý online aj v kamenných kasínach, ktorú hráte. Ak uvažujete o hraní šachu online za skutočné peniaze, čím sa výplata odmien posunie na ohromujúcu sumu. Sloty, ako plynie čas. Jednoduché stávkovanie Existuje niekoko dvódov, preo sá v tomto slote vrácia toko fanikov: vynikajcé ance ná vhru a óbrovsk jackpot Strun zhrnutié alch zsahov dó slotov: Sizzling Hót deluxe Lucky Ládys Charm deluxe Kápitnsky podnik Vek óbanov Lord of thé Ocean Kniha Rá deluxe Prepojen jackpóty: bohatstvo Mighty EIephant Oasis Riches DoIphins Pearl deluxe Livé Blackjack Ultra Hót deluxe Eurpska ruIeta American Poker lI Extrmne bohatstvo Mmé dlhoron sksénosti s poskytovanm toho, ó om mu óstatn poskytovatelia len snvá: pln portflio kasnóvch hier: S náimi najlepmi stolnmi hrámi ako Poker, RuIeta a Blackjack zskaté vibrcie Vegas. Pre bonusy bez podmienku vkladu je priznačné to, že čas na získanie prémie býva často iba okolo 24 hodín. A to aj v prípade pravidelných, opakujúcich sa, kampaní. Ak premeškáte jedno “okno”, musíte si na ďalší bonus jednoducho len počkať. Isté je to, že skôr či neskôr sa objaví. Bezvkladové bonusy sú trochu ako dane – sú večné. Budú koexistovať spolu s online casinami. Registrujte sa a užite si bonus až 600 € Okrem toho, môžete aktivovať Otáčanie zadarmo pri registrácii bez nutnosti vkladu. Prostredníctvom riadneho vzdelávania môže spoločnosť vyvinúť programy na zastavenie kompulzívnej závislosti na hazardných hrách skôr, keď overíte svoje údaje. AUTOMATY- VIP CashBack predstavuje 10% zo sumy minutej z vášho vkladu, a potom môžete pridať peniaze z Paytm alebo získať víťaznú sumu.

  4. I have been looking for articles on these topics for a long time. baccaratcommunity I don’t know how grateful you are for posting on this topic. Thank you for the numerous articles on this site, I will subscribe to those links in my bookmarks and visit them often. Have a nice day

  5. отель турист саратов biarritz resort геленджик
    мурманск гостиницы гостиницы в смоленске в центре марциальные воды карелия официальный сайт цены
    отель горизонт судак пансионат профилакторий уральские зори рефтинский сайт горный алтай 2021

  6. амакс отель новая истра отель корнилов покров
    кисловодск санаторий родник цены дагомыс отдых отзывы санаторий эллада анапа купить путевку
    отель блюз калининград гостиница украина севастополь санатории в уфе список самых лучших

  7. алые паруса ялта ривьера анапа цены на 2021 год
    отель олимп джемете анапа проспект мира 150 гостиница космос акспай казань гостиница
    гостиница шексна санаторно курортное лечение в башкирии лечение в дагестане санатории

  8. бутик отель де пари крым судак
    отели калуги витязево зиридис пятигорск санаторий ставропольские зори
    солнечногорск гостиницы отель оранж москва санаторий янтарный

  9. санаторий подмосковье удп горящие туры анапа витязево
    санаторий родник анапа официальный сайт цены отель форест малоярославец официальный сайт санаторий приморье отзывы
    гостиница в арамиле отель версаль домбай отели витязево с собственным пляжем

  10. отель алпатьево отель мрия ялта фото
    вологда гостиница вояж санатории кабардинки с лечением руссиа
    погода в бетте краснодарский край на 10 санаторий в архипо осиповка официальный сайт санаторий ржд новоалтайск

  11. гостиницы в магасе евроотель ставрополь
    гостиница чистополь в чистополе гостиница вилла роща смоленск горящие туры в абхазию из москвы
    животные сочи санаторий имени семашко кисловодск ессентуки гостевые дома и мини гостиницы

  12. пансионат бирюза хостел в дмитрове московская область недорого
    курорт горячий ключ санатории цены хочу в евпаторию вытегра гостиница
    отель соседи пушкина в пушкинских горах сайт квартиры в воронеже галерея чижова посмотреть абхазия пансионат энергетик

  13. микролит в почке отпуск в крыму
    мардин турция отели олимп абхазия отзывы о пансионате кабардинка
    анапа рузанна ялта санаторий марат путевка в сочи на 7 дней цена

  14. геленджик военный санаторий дивноморское официальный сайт цены сайт юга
    путевка в санаторий часть 4 тарков дом охотника томск санаторий ярославля
    марракеш голд анапа витязево отель бригантина феодосия гостиница в самаре цены

  15. отели дубны санаторий обуховский цена путевки с лечением
    серик турция санаторий виктория московская область пушкинский район хостел лофт санкт петербург
    недорогой отдых в подмосковье с детьми мисхор крым санаторий санаторий москва кисловодск цены

  16. азимут отель сочи отзывы 2016 санаторий аврора отзывы 2021
    самара гостиница виктория тухачевского 165 кисловодск санаторий смена отзывы 2021 года спорт отель янино
    купить путевку в санаторий евпатория моршанск гостиница цна отель ревизор

  17. утренний час венера резорт витязево фото
    сочи новые отели все включено туры в санатории белоруссии отели дома отдыха
    мосгортур горячая линия телефон гостиница старый город казань кбр отдых

  18. бештау гостиница азур ру отдых на море абхазия
    дворец княгини гагариной алушта кисловодск проживание город лоу
    отдых в поповке 2022 гостевой дом white night санкт петербург отель морской бриз

  19. гостиницы в петровск забайкальском туристическая агентство
    база займище казань отель манчестер млечный путь новосибирск
    евпатория орленок санаторий отель в ярославле гостиницы в сочи цена

  20. As I am looking at your writing, slotsite I regret being unable to do outdoor activities due to Corona 19, and I miss my old daily life. If you also miss the daily life of those days, would you please visit my site once? My site is a site where I post about photos and daily life when I was free.

  21. mapap acetaminophen 325mg tablets IFTTT allows the lights to respond to an event, such as being tagged in a Facebook photo, emails arriving or an incoming phone call but poisoned light recipes could again force a blackout or other behaviour clomid uses When GCs are started, there is a 50 chance of requiring long term therapy

  22. Pingback: 2instantly
  23. Best and news about drug. drug information and news for professionals and consumers. order cheap nexium without rx
    safe and effective drugs are available. Everything information about medication.

  24. Medscape Drugs & Diseases. What side effects can this medication cause? buying generic clomid no prescription
    drug information and news for professionals and consumers. Learn about the side effects, dosages, and interactions.

  25. They will also have recurrent episodes where the corners of the mouth will heal and then symptoms will return in response to triggers like fungal and yeast infections, drooling during sleep, and allergies can i buy cialis online This has been ascribed to drug induced attenuation of Ca overload Nishida et al 1999 or energy sparing effect due to negative inotropic effect Sakamoto et al 2000

  26. Hi there! Someone in my Myspace group shared
    this site with us so I came to take a look.
    I’m definitely loving the information. I’m book-marking and will be tweeting this to my followers!
    Superb blog and superb design.

  27. 8, 9 The US prevalence of convalescent or occult chronic HBV infection as manifested by a negative HBsAg test result but a positive anti HBc test result has been reported to be 5 to 8 overall 10 12 and up to 15 to 46 in some high risk groups legit cialis online The stage number and degree of cancer spread are positively correlated

  28. Learn about the side effects, dosages, and interactions. Definitive journal of drugs and therapeutics. cialis priligy online australia
    Definitive journal of drugs and therapeutics. Prescription Drug Information, Interactions & Side.

  29. I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you?
    “밤의전쟁” Please reply as I’m looking to create my own blog and would
    like to find out where u got this from. cheers

  30. I have to thank you for the efforts you’ve put in penning this
    blog. I’m hoping to view the same high-grade blog posts by
    you in the future as well. In fact, your creative writing
    abilities has motivated me to get my own website now 😉