Events Government Technology Technology Trends Posted on

PANTAMI EXCITED WITH THE UNPRECEDENTED 18.44% HIGHEST EVER ICT CONTRIBUTION TO NIGERIA’S GDP

Author admin 0 947

 

The Honourable Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami), is very excited to hear of the remarkable contribution of the Information and Communications Technology (ICT) sector to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2022 (Q2 2022). The National Bureau of Statistics (NBS) stated this in the ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022, released on the 26th of August, 2022.

The Digital Economy sector under Professor Pantami has continued its trend of playing a key part in the growth on Nigeria’s economy. The Report by the NBS indicated that the ICT sector contributed 18.44% to the total real GDP in Q2 2022. This is the highest contribution of ICT to the GDP and is truly unprecedented and marks the third time that the sector has achieved an unprecedented contribution to Nigeria’s GDP during the tenure of the Honourable Minister- in Q1 2020, Q2 2021 and now Q2 2022.

The oil sector contributed 6.33% to the total real GDP in Q2 2022, which was lower than the contribution in Q2 ‘2021 and Q1 ‘2022, where it contributed 7.42% and 6.63% respectively. The non-oil sector’s contribution grew by 4.77% in real terms, resulting in a 93.67% contribution to the nation’s GDP in the Q2 ‘2022, higher than Q2 ‘2021 and Q2 ‘2022, where it contributed 92.58% and 93.37% respectively.
The Honorable Minister notes that the growing contribution of the ICT sector to the GDP is as a result of the commitment of the administration of President Muhammadu Buhari, GCFR to the development of the digital economy. The diligent implementation of the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria, stakeholder engagement and creation of an enabling environment have all played an important role in this achievement.

The support of President Muhammadu Buhari, GCFR, has contributed immensely to the impressive developments in the sector. The unprecedented contribution of ICT to Nigeria’s GDP can also be attributed to the dynamic and results-oriented leadership of the sector. The GDP Report has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy.

The Honourable Minister congratulates all stakeholders in the digital economy ecosystem for this cheering news. He also renews his call to all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs. This would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.
Dr Femi Adeluyi

Technical Assistant (Research and Development) to theHonourable Minister of Communications and Digital Economy

Leave a Comment

Your email address will not be published.

You may also like

Announcements Business Culture Economy Posted on

Nigeria’s Economic Handlers Must Buck Up: A Wake-Up Call

Author admin 0 61
post-image

 

The recent announcement by Holcim to exit the Nigerian market after a 65-year presence is a stark reminder of the deteriorating economic climate in the country. This departure, coupled with the ongoing exodus of other multinational corporations, demands urgent attention and decisive action from Nigeria’s economic handlers.

John Paul Emechebe, Head of On-Premise at Red Bull, aptly highlighted the gravity of the situation. The combination of unfavorable economic policies, infrastructure deficiencies, regulatory hurdles, and security concerns has created a hostile environment for businesses, both domestic and foreign.

It’s imperative for the government to recognize that these challenges are not isolated incidents but systemic issues that require a comprehensive and coordinated approach. To stem the tide of corporate departures and attract much-needed foreign direct investment, the following measures must be implemented:

  • Economic Policy Reform: The government must prioritize the implementation of investor-friendly policies that foster a…
Read More
Art Business Economy Posted on

Pixel-perfect precision: Protecting today’s digital workforce’s visual health

Author admin 0 20
post-image

For modern professionals who spend long hours focused on intricate digital tasks, maintaining eye health and comfort is critical. Yet many unknowingly put excessive visual strain on their eyes by working on cramped, low-resolution displays ill-equipped for detail-intensive applications.

 

This can have serious ramifications for both employee well-being and work quality. “Basic laptop screens and small desktop monitors simply don’t provide enough screen real estate or visual fidelity for precision tasks like coding, video editing or complex design work,” explains Tyrone Young, Head of Sales for Information Display and Information Technology, at LG Electronics South Africa.

When working on minuscule user interface elements, typography or intricately layered assets, visual acuity becomes very important. “Inadequate screen size or resolution can lead to excessive squinting and an uncomfortable viewing experience as users struggle to see fine details.”

This chronic eye fatigue can quickly drain productivity and open the door to more severe visual issues…

Read More
Business Technology Technology Trends Telecoms Posted on

NCC Champions Seamless, Safe, and Profitable Telecom Industry Through Type Approval Standards

Author admin 0 86
post-image

 

In its relentless drive to create a thriving, efficient, and safe telecommunications landscape, the Nigerian Communications Commission (NCC) has implemented comprehensive standards for telecom equipment through its “Type Approval” process. These regulations are designed to ensure that every device used in Nigeria’s telecom ecosystem is not only safe but also operates seamlessly to support the industry’s growth and enhance the quality of service (QoS) for millions of Nigerians.

The NCC’s vision is clear: to make Nigeria’s telecom industry a model of excellence, fostering innovation, interoperability, and consumer satisfaction. As the industry regulator, the NCC recognizes that its role extends beyond oversight—it is about enabling progress and profitability for stakeholders, from operators to end-users.

A Commitment to Seamlessness and Safety

The Commission, empowered by the Nigerian Communications Act of 2003, emphasizes that its Type Approval standards are not just technical requirements—they are the backbone of a robust telecom environment. According to the NCC:

>…

Read More
Announcements Business Economy Posted on

Ifee Kojo Honored as Visionary Leader at CIO and C-Suite Awards 2024

Author admin 0 165
post-image

In a remarkable moment of recognition, Ifee Kojo, PhD, the Country Manager for Hewlett Packard Enterprise (operated by Selectium), was honored as one of the Visionary Leaders in Technology and Business at the 5th Edition of the prestigious CIO and C-Suite Awards 2024.

A seasoned business leader, ethics advocate, coach, and facilitator, Dr. Kojo’s recognition at the awards highlights her profound impact on the technology and business sectors. The CIO and C-Suite Awards, renowned for celebrating leadership, innovation, and excellence across Africa, recognized her as an influential figure whose contributions have advanced both technological advancements and ethical business practices.

Dr. Kojo shared her gratitude with those who have supported her throughout her career. “I am humbled and deeply honored to be recognized as one of the Visionary Leaders in Technology and Business. This achievement is not mine alone. It is a reflection of the incredible teams I have worked with, the…

Read More
Announcements Business Economy Government Investments Technology Technology Trends Posted on

Dr. Vincent Olatunji Appointed as ID4Africa Deputy Ambassador for Nigeria

Author admin 0 203
post-image

 

Dr. Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission (NDPC), has achieved a significant milestone with his appointment as the ID4Africa Deputy Ambassador for Nigeria. This new role, set to commence on January 1, 2025, places Dr. Olatunji at the forefront of identity development efforts across Africa, solidifying his reputation as a key advocate for digital transformation and data protection.

The appointment is a recognition of Dr. Olatunji’s outstanding contributions to the fields of identity management and digital innovation. Announced by Dr. Joseph Atick, Executive Chairman of ID4Africa, the decision reflects Olatunji’s consistent dedication to advancing secure and inclusive identity systems, both within Nigeria and across the continent.

As a Deputy Ambassador, Dr. Olatunji becomes a member of the ID4Africa Ambassadors Bureau, an influential body that drives the vision of the ID4Africa Movement. This Bureau also serves as the Ambassadors Council, a governance platform that steers the continent’s…

Read More
Announcements Autos Business Posted on

Imo and Abia Must Wake Up: The Urgent Need to Boost IGR for Development

Author admin 0 145
post-image

 

The recent Value Added Tax (VAT) contributions and allocations for South-East states from January to October 2024 have exposed a deeply troubling reality. While other states in the region, such as Anambra, Ebonyi, and Enugu, are making significant strides in generating revenue, Imo and Abia—both oil-producing states—are failing to live up to their potential.

Here’s a quick look at the VAT numbers:

Anambra: Contributed ₦40.13 billion, received ₦63.35 billion (157.9%).

Ebonyi: Contributed ₦21.98 billion, received ₦49.97 billion (227.3%).

Enugu: Contributed ₦12.99 billion, received ₦54.76 billion (421.4%).

Abia: Contributed just ₦6.50 billion, received ₦51.59 billion (793.1%).

Imo: Contributed a paltry ₦3.33 billion, yet received ₦57.22 billion (1,715.9%).

Imo and Abia, both blessed with abundant natural resources, are lagging embarrassingly behind in revenue generation. Despite their oil-producing status, these states seem to be content with their reliance on federal allocations while failing to harness the economic potential within their borders.

Imo State: A Wasted Opportunity in Tourism and Hospitality

Imo…

Read More
Business Culture Economy Government Posted on

Peter Obi Decries Nigeria’s Endemic Corruption, Calls for Accountability on International Anti-Corruption Day

Author admin 0 120
post-image

 

As the global community marks International Anti-Corruption Day, former Anambra State Governor and presidential hopeful, Peter Obi, has issued a strong condemnation of the pervasive corruption undermining Nigeria’s development. Obi described corruption as the “bane of our national development” and urged both leaders and citizens to take decisive action against it.

In a statement released to the media, Obi referenced recent findings by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which highlighted how corruption has crippled Nigeria economically and socially. He also cited the nation’s low ranking of 145 out of 180 on the Corruption Perception Index and its classification among the 11 worst-governed African countries over the past decade.

“From lack of transparency in budgeting and allocation of funds to the misappropriation of public resources, corruption manifests in various ways across different levels of government,” Obi said. He noted specific issues such as budget padding, contract inflation,…

Read More
Business Culture Posted on

Africa’s Largest Rice Importers in 2023: Cote D’Ivoire Tops the

Author admin 0 98
post-image

 

The 2023 figures for rice imports across Africa reveal a significant disparity in import volumes among countries, with Cote D’Ivoire emerging as the continent’s largest importer. According to data from Trade Map, the top 10 African rice importers collectively represent billions of dollars in imports, highlighting the growing demand for the staple crop in the region.

Top 10 African Rice Importers in 2023:

1. Cote D’Ivoire – $722.1 million

2. Benin – $653.4 million

3. South Africa – $634.7 million

4. Senegal – $498.0 million

5. Kenya – $392.4 million

6. Mozambique – $349.5 million

7. Guinea – $335.8 million

8. Niger – $307.0 million

9. Ghana – $286.3 million

10. Djibouti – $273.6 million

 

Cote D’Ivoire leads with an import value of $722.1 million, closely followed by Benin and South Africa, whose imports were valued at $653.4 million and $634.7 million, respectively. These figures underscore the critical role rice plays in these economies as a dietary staple and its contribution…

Read More