The Information and Communication sector’s contribution to GDP fell by 9% in the first quarter of 2022, from N3.1tn in the fourth quarter of 2021 to N2.81tn.
The ICT sector contributed 15.21% and 16.20% of real GDP in Q4 2021 and Q1 2022, respectively, according to GDP figures released by the National Bureau of Statistics.
Total real GDP in Q4 2021 was N20.33 trillion, and in Q1 2022, it was N17.35 trillion. Telecommunications and information services, publishing, motion picture, sound recording, and music production, and broadcasting are all included in the sector, according to the statistics body.
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Telecommunication and information services contributed 79.88% (N2.25 trillion) of the sector’s total GDP contribution in Q1 2022 and 82.89 percent (N2.56 trillion) in Q4 2021.
“Quarter-on-Quarter, the sector exhibited a growth of -9.09 percent in real terms,” said the NBS of the sector’s contribution to real GDP in Q1 2022. In the first quarter of 2022, the sector contributed 16.20% of total real GDP, up from 14.91% the previous year and 15.21% the previous quarter.”
“In the fourth quarter of 2021, the sector contributed 15.21% of total real GDP, higher than the same quarter the previous year, when it contributed 15.06 percent, and higher than the preceding quarter, when it contributed 14.20 percent,” it said.
The Information and Communications sector contributed 10.55 percent of total nominal GDP in Q1 2022 and 9.88 percent in Q4 2021 during the time period under consideration.
In the fourth quarter of 2021, total nominal GDP was N49.28 trillion, while in the first quarter of 2022, it was N45.32 trillion. From N4.87 trillion in Q4 2021 to N4.78 trillion in Q1 2022, the sector’s contribution to nominal GDP fell by 1.80%.
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Revenue from telephone, telex, facsimile, telegraph, and other income from satellite and internet services generate gross output for the telecommunication and information services subsector, according to the NBS.
