Technology Contributes More Than Oil To Nigeria’s GDP
Sep 9, 2022 ·
2m 11s
The recent Gross Domestic Product reported by the National Bureau of Statistics, the information and communications technology (ICT) sector contributed 18.44% to Nigeria’s GDP in the second quarter of 2022....
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The recent Gross Domestic Product reported by the National Bureau of Statistics, the information and communications technology (ICT) sector contributed 18.44% to Nigeria’s GDP in the second quarter of 2022.
The sector saw a 6.55% growth rate from Q1 2022.
The contribution of the oil sector, which used to dominate the country’s GDP bottom line, fell to 6.33% in Q2 2022, a position lower than its 7.42% in Q2 2021 and 6.63% in Q1 2022.
With trade coming in second to ICT and contributing 16.81% to the economy, higher than the 16.6% it recorded in 2021 when the world was just recovering from the pandemic, and the 16.13% it recorded in Q1 2022, the non-oil sector dominated the economy.
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The sector saw a 6.55% growth rate from Q1 2022.
The contribution of the oil sector, which used to dominate the country’s GDP bottom line, fell to 6.33% in Q2 2022, a position lower than its 7.42% in Q2 2021 and 6.63% in Q1 2022.
With trade coming in second to ICT and contributing 16.81% to the economy, higher than the 16.6% it recorded in 2021 when the world was just recovering from the pandemic, and the 16.13% it recorded in Q1 2022, the non-oil sector dominated the economy.
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