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