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· The Nigeria Bureau of Statistics (NBS) has said the information and communication sector contributed 9.57 per cent to the overall Gross Domestic Products (GDP) in the country’s third quarter in 2020, which was lower than the second quarter of 2020 at 14.06 per cent
· The information and communication sector is composed of four activities viz telecommunications and information services; publishing; motion picture; sound recording and music production; and broadcasting
· The sector grew by 15.91 per cent in nominal terms (year-on-year); this represents a 4.72 per cent points increase from the rate of 11.19 per cent recorded in the same quarter of 2019, which was 17.06 per cent points higher than rate recorded in the preceding quarter
The Nigeria Bureau of Statistics (NBS) has said the information and communication sector contributed 9.57 per cent to the overall Gross Domestic Products (GDP) in the country’s third quarter in 2020, which was lower than the second quarter of 2020 at 14.06 per cent. However, the figure was higher than the contribution in the corresponding quarter of 2019 pegged at 8.54 per cent.
The information and communication sector is composed of four activities viz telecommunications and information services; publishing; motion picture; sound recording and music production; and broadcasting. The sector grew by 15.91 per cent in nominal terms (year-on-year); this represents a 4.72 per cent points increase from the rate of 11.19 per cent recorded in the same quarter of 2019, which was 17.06 per cent points higher than rate recorded in the preceding quarter. The growth recorded on quarter to quarter basis was 21.78 per cent.
The sector contributed 9.57 per cent to total nominal GDP in Q3 2020, which is higher than the 8.54 per cent recorded in the same quarter of 2019 but lower than the 14.06 per cent it contributed in the preceding quarter.
This reports highlights that in real terms, the information and communications sector recorded a growth rate of 14.56 per cent, year on year, which represents an increase of 4.68 per cent points compared to the previous year. Of total real GDP, the sector accounted for 13.47 per cent as at Q3 2020, compared to 17.83 per cent contribution in the preceding quarter.”
