Ladesope Ladelokun
Minister of Communications, Dr Isa Pantami has hailed the manner of implementation of Economic Recovery and Growth Plan (ERGP) by the Buhari government, saying it has led to a sustained focus on growing the non-oil sector of the economy, especially the Information and Communications Technology(ICT) sector.
The minister in a statement expressed the ministry’s commitment to the economic diversification efforts of the Buhari administration and called on all stakeholders to support the president’s laudable initiatives aimed at taking Nigeria to the next level.
The statement came on the back of a report by the National Bureau of Statistics that the contribution of ICT to Gross Domestic Product supersedes that of the oil and gas sector in the second quarter of 2019.
According to the NBS, the contribution of Information and Communications Technology to Nigeria’s GDP rose from 11.22 per cent in the second quarter of 2018 to 13.85 per cent in the second quarter of 2019.
The figures show that Nigeria’s GDP grew by 1.94 per cent in real terms in the second quarter of 2019 compared to the second quarter of 2018, which recorded a growth of 1.50 per cent.
The non-oil sector contributed 91.18 per cent to the nation’s GDP in the second quarter of 2019 as opposed to the 8.82 per cent contributed to total real GDPs by the oil sector.
Leave a Comment
You must be logged in to post a comment.