Minister of Communication and Digital Economy, Bosun Tijani said the country’s telecommunication and information sub-sector grew to N6.2tn in the first quarter of 2024.
Tijani said this in a message shared on X where he explained that the sub-sector outperformed the activities of the first quarter of 2023 growing by 10.81% in Q1, 2024. In the first quarter of 2023, the sub-sector grew to N5.6trn.
The minister said, “The nominal GDP value in the Telecoms & Information Services Sub-Sector in Q1 2024 (N6.2trn) is 10.81% higher than the start of my term in Q3 and also higher compared to Q1, 2023 ,N5.6trn”.
The minister admitted that the ICT sector has seen a pattern of decline in some quarters over the past seven years.
“A review of the last 7 quarters, shows a decline in growth rate since Q3, 2022 with the sharpest decline happening between Q1, 2023 to Q2, 2023.
“In the first 3 quarters of President @officialABAT ’s term, we have seen growth in the nominal GDP Value of the ICT Sector from N7.1tn (Q3 2023) to N8.4tn (Q4, 2023) and a “patterned fall” to N7.9tn in Q1 2024. Note that historically, we have seen this “patterned fall” in Q1 occurring in 7 of the last 8 years”, he noted.
Tijani said it has been great to see the recent interest in the performance of the ministry and the digital economy as a whole
