The Information and Communications sector contributed 10.29 per cent to the total nominal Gross Domestic Product (GDP) in the first quarter of 2025, a report by the National Bureau of Statistics (NBS) said on Monday.
The bureau said this figure is higher than the rate of 9.25 per cent recorded in the same quarter of 2024 and higher than the 8.55 per cent it contributed in the preceding quarter.
|
|
According to the statistics office, the sector in the first quarter of 2025 recorded a growth rate of 7.40 per cent in real terms, year-on-year.
From the rate recorded in the corresponding period of 2024, it said there was an increase of 3.36 percentage points.
|
|
|
|---|
On a quarter-on-quarter basis, the sector exhibited a real growth of -8.86 per cent. Of total real GDP, the sector contributed 10.59 per cent in the first quarter of 2025, higher than in the same quarter of the previous year, in which it was 10.17 per cent and higher than the preceding quarter, in which it represented 9.32 per cent,” the NBS said.
The report noted that the information and communication sector covers sub-sectors like telecommunications and information services, publishing, motion picture, sound recording and music production, and broadcasting.
READ ALSO: Agriculture sector’s contribution to Nigeria’s GDP increases in Q1 2025
In nominal terms, it added that in the first quarter of 2025, the sector growth was recorded at 31.63 per cent (year-on-year), a 28.23 per cent point increase from the rate of 3.40 per cent recorded in the same quarter of 2024, and 13.67 per cent points higher than the rate recorded in the preceding quarter.
“The quarter-on-quarter growth rate recorded in the first quarter of 2025 was 8.35 per cent,” it said.
GDP is the monetary value of goods and services made in the country.
The NBS said Nigeria’s GDP stood at N372.8 trillion in 2024, after the base year for calculating the figure was shifted to 2019.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
