ICT Contributes N26tn To GDP In 18 Months

 ICT Contributes N26tn To GDP In 18 Months

Analysis from the National Bureau of Statistics showed that the Information, Communication and Technology sector contributed N26.02tn to the nominal Gross Domestic Product in 18 months.

This was extracted from the GDP reports for the four quarters of 2020 and the first two quarters of 2021; that isJanuary 2020 to June 2021.

The ICT sector included the activities of four sub-sectors which are telecommunications and information services; publishing; motion picture, sound recording and music production; and broadcasting.

Breakdown by quarter 

In Q1, 2020, the sector accounted for a total of N4.26tn with telecommunications and information services contribution of N2.74tn; publishing contributed N9.68bn; motion picture, sound recording and music production contributed N379.05bn; and broadcasting contributed N542.55bn.

In Q2, 2020, the sector contributed a total of N5.57tn to the nominal GDP with telecommunications and information services accounting for N3.80tn; publishing, N7.98bn; motion picture, sound recording and music production, N278.22bn; and broadcasting contributed N693.53bn.

In Q3, 2020, the sector accounted for N4.5tn with telecommunications and information services contributing N3.03tn; publishing, N7.73bn; motion picture, sound recording and music production, N286.99bn; and broadcasting, N411.83bn.

It stated that in Q4, 2020, the sector contributed a total of N5.5tn with telecommunications and information services accounting for N3.71tn; publishing, N8.78bn; motion picture, sound recording and music production, N326.73bn; and broadcasting, N557.64bn.

In the whole of 2020, the sector contributed a total of N17.12tn to the nominal GDP with telecommunications and information services accounting for N13.3tn; publishing, N34.17bn; motion picture, sound recording and music production, N1.27tn; and broadcasting, N2.21tn.

In Q1, 2021, the sector contributed a total of N4.93tn to the nominal GDP with telecommunications and information services accounting for N3.01tn; publishing, N9.67bn; motion picture, sound recording and music production, N390bn; and broadcasting, N559.52bn.

In Q2, 2021, the sector accounted for N5.59tn with telecommunications and information services contributing N3.75tn; publishing, N8.28bn; motion picture, sound recording and music production, N294.13bn; and broadcasting, N724.92bn.

In the first six months of 2021, the sector accounted for N8.9tn of the nominal GDP with telecommunications and information services contributing N6.67tn; publishing, N17.95bn; motion picture, sound recording and music production, N684.13bn; and broadcasting, N1.28tn.

Kehinde Ogunyale

Freelance Investigative and Data Journalist

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