According to recent data released by the National Bureau of Statistics (NBS), the Information and Communications Technology (ICT) sector contributed 16.66% to Nigeria’s real Gross Domestic Product (GDP) in the fourth quarter of 2023. This marks an increase from the 16.22% contribution recorded in the same period the previous year.<\/p>\n
The ICT sector, which includes activities such as Telecommunications and Information Services, Publishing, Motion Picture, Sound Recording, Music Production, and Broadcasting, saw a growth rate of 6.33% year-on-year in real terms. This growth was primarily driven by activities in the telecommunications sub-sector, which contributed 14% to the GDP in real terms.<\/p>\n
Broadcasting was the next significant contributor within the ICT sector, adding 1.68% to the GDP.<\/p>\n
In nominal terms, the ICT sector contributed 12.52% to the total Nominal GDP in the fourth quarter of 2023, showing an increase from the previous year. The sector’s growth in nominal terms was recorded at 39.57% year-on-year.<\/p>\n
Overall, Nigeria’s GDP grew by 3.46% year-on-year in real terms in the fourth quarter of 2023, with the Services sector leading the growth at 3.98%. The agriculture sector also saw growth, contributing to the country’s aggregate GDP.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to recent data released by the National Bureau of Statistics (NBS), the Information and Communications Technology (ICT) sector contributed 16.66% to Nigeria’s real Gross Domestic Product (GDP) in the fourth quarter of 2023. This marks an increase from the 16.22% contribution recorded in the same period the previous year. The ICT sector, which includes […]<\/p>\n","protected":false},"author":12,"featured_media":20708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[180],"tags":[],"class_list":["post-20707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=20707"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20707\/revisions"}],"predecessor-version":[{"id":20715,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20707\/revisions\/20715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/20708"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=20707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=20707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=20707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}