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ICT Sector Records Highest Growth Rate In 2020

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The Information and Communications Technology (ICT) sector has recorded the highest growth rate of all sectors in 2020.

This was based on the Q4 report on Nigeria’s Gross Domestic Product (GDP) released by the National Bureau of Statistics (NBS) on Thursday.

The report showed that the ICT sector outperformed all other sectors in both the fourth quarter of 2020 and the whole of 2020.

“Nigeria’s GDP grew by 0.11% (year-on-year) in real terms in the fourth quarter of 2020, representing the first positive growth in the last three quarters,” the report read.

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The ICT sector grew by 14.70% in Q4 2020, making it the fastest-growing sector of the Nigerian economy.

It is also the only sector with double digits growth.

An excited minister

The Minister of Communications and Digital Economy, Dr Isa Pantami, expressed delight at the news.

He credited the giant strides recorded in the sector to President Muhammadu Buhari.

According to him, the success is a direct result of the focused and committed effort of the president.

The strategic policy directions of the Federal Government include; the National Digital Economy Policy for a Digital Nigeria and the Nigerian National Broadband Plan, amongst others.

Pantami said that the GDP report has shown that the ICT sector is a catalyst for the diversification and growth of the economy.

The Minister called on all sectors to take advantage of the FG’s new focus on digital economy to enable and improve their processes through the use of ICT.

Pantami congratulated all stakeholders of the ICT sector.

He also called on them to continue supporting the policies of President Buhari’s administration.

According to him, “This would enhance the output of all sectors of the economy and boost Nigeria’s GDP.”

National Digital Economy Policy for a Digital Nigeria

The National Digital Economy Policy and Strategy (NDEPS) is to enable Nigeria to take advantage of digital technologies in order to become a leading player in the global digital economy.

On October 17, 2019, President Buhari approved the redesignation of the Federal Ministry of Communications as the Federal Ministry of Communications and Digital Economy (FMoCDE).

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The redesignation of the Ministry is in line with the priority areas that the FG asked the Ministry to focus on.

Among the priorities assigned to the Ministry is the Development and Implementation of a Digital Economy Policy and Strategy for Nigeria.

This Digital Economy Policy and Strategy document is based on the FMoCDE’s 8-pillars for the acceleration of the National Digital Economy for a Digital Nigeria.

The 8 pillars are:
1. Developmental Regulation;
2. Digital Literacy & Skills;
3. Solid Infrastructure;
4. Service Infrastructure;
5. Digital Services Development & Promotion;
6. Soft Infrastructure;
7. Digital Society & Emerging Technologies; and
8. Indigenous Content Development & Adoption.

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