Telecoms Industry Contribution To Q2, GDP Hit N2.3 Trillion

Yemisi Izuora

Nigeria’s telecommunications and information services sectors remained the enablers of growth, with N2.3 trillion or 14.30 per cent Gross Domestic Product (GDP) contribution in the second quarter of 2020.

Statistics indicate that the contribution of the sector translates to N2.272 trillion, up from N1.821 trillion in the first quarter of the year.

This, according to figures released by National Bureau of Statistics (NBS), indicates an increase of 31.43 per cent.

While the entire Information and Communication Technology (ICT) industry recorded 17.83 per cent in the second quarter, the 14.30 per cent contribution of the telecoms sub-sector was unprecedented, far and above oil and gas, and other non-oil sectors’.

In 2015, telecoms’ contribution to GDP stood at eight per cent and has grown significantly quarter-on-quarter and year-on-year to reach the current milestone of 14.30 per cent.

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