NDEPS: Pantami Directs Proper Monitoring Policies, As ICT Sector records 1.37 Billion USD

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The Unprecedented achievement recorded in the Implementation of the National Digital Economy Policy and Strategy (NDEPS) launched barely two years ago has placed Nigeria’s Economy amongst the fastest growing in the world.
This was announced by the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) at the closing ceremony of the 9th Regular Meeting of the National Council On Communications And Digital Economy (NCCDE) held in Abuja.

Prof Pantami described this year’s theme, ‘Utilizing Digital Technology To Accelerate Economic Recovery In A COVID 19 Era And Beyond’, as apt as it consolidates the present administration’s effort in driving the Nation’s Economy Digitally.

Quoting from the NBS report, Pantami said in the last Q2 of 2020, ICT was the fastest growing sector, adding that the growth rate of ICT sector in 2020 was more than four times the performance of the second most performing sector of the nation’s economy.

“The 14.7 percent growth rate of the ICT sector was greater than the combined 14.21 percent growth of the 2nd to 7th fastest growing sectors in Nigeria in 2020. The Telecommunications sector also recorded a growth rate of 15.90 percent, and this was it’s highest growth rate in the last 10 years.

“National Bureau of Statistics (NBS) released the Q1 2021 report and the ICT sector retained its position as the fastest growing sector of the economy, thereby contributing 14.91 percent, also in the Q2 of 2021 ICT contributed an Unprecedented 17.90 percent to the nation’s GDP”, he said.

Professor Pantami noted that in view of the remarkable achievements, President Muhammadu Buhari in May 2021 commended the ICT sector by admitting that ICT sector played a very vital role in ensuring that the country exited recession.

Another milestone recorded by the sector according to Pantami in 2021, was how Startups in Nigeria raised 1.37 billion US Dollars, followed by South Africa and Egypt with 800 billion and 500 billion respectively, which he said is a clear indication that the Digital Economy sector is doing well in the country.

The Minister therefore task Council members to ensure effective implementation of the policies in their respective states as contained in the policy document, with a view to further growing the nation’s Digital Economy sector.

Oyo state emerged the overall winner in the implementation of the development pillars of the National Digital Economy Policy and Strategy (NDEPS.)

Heads of various Parastatals under the Ministry of Communications and Digital Economy such as Director General, National Information Technology Development Agency (NITDA) Kashifu Inuwa CCIE; Managing Director, Galaxy Backbone, Professor Muhammad Bello; Managing Director, NigComSat, Ms Abimbola Alale, and representative of the Executive Vice President, Nigerian Communication Commission (NCC), presented winners with medals for their outstanding performance.

Commissioners of Science and Technology from the 36 states of the federation and those from the FCT graced the occasion.

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