With the recent acceleration of digital transformation, the contribution of digital sectors to national economies is growing in Africa. In Nigeria, the various policies and initiatives deployed have accelerated the development of the ICT sector to complement declining oil revenues.
The information and communication technology (ICT) sector contributed 18.44 percent to Nigeria's real gross domestic product (GDP) in the second quarter of 2022. This percentage is higher than the 17.92 and 16.20 percent it recorded respectively during the same period in 2020 and 2021.
According to the National Bureau of Statistics (NBS), which reported the figure in its "Nigerian Gross Domestic Product Report Q2 2022" released on Friday, August 26, the nominal value of the sector’s contribution went from 12.22 % in Q2-2021 to 10.55% in the first quarter of 2022 and then to 12.12% in the second quarter this year.
During the first two quarters of 2022, the ICT sector’s nominal contribution to GDP was NGN7.94 billion (US$18.8 million); 76.29 percent of that contribution came from the telecommunications segment (which added 9.49% to the national GDP).
According to the NBS, in Q2-2022, the digital economy once again played a key role in the growth of the Nigerian economy despite numerous challenges, including the introduction of new taxes, the deactivation of unregistered SIM cards, rising operating costs, etc.
For Isa Pantami, Minister of Communications and Digital Economy, the growing contribution of the ICT sector to the GDP is the result of the federal government’s commitment to developing 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," he said.
Isaac K. Kassouwi
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...
Tunisair signed a codeshare agreement with Etihad Airways to expand access to Middle Eastern and Asian destinations. The partnership supports...
Patrick Achi elected president of Côte d’Ivoire’s National Assembly Former prime minister wins 84.98% in 2026–2031 legislature vote RHDP...
I&M Group raises stake in I&M Bank Tanzania to 95.5% Deal follows exit of Proparco and MEAL after 15 years Group bets on growth in...
Gabon’s BCEG grants 360 million CFA loan to BTF Farming Funding aims to boost poultry, fish and crop production capacity President announces...
Bamako hosted the first International Festival of African Documentary (FIDAB) from January 16 to 18, 2026, screening 12 African films. UNESCO...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...