ICT Sector Growth Declines in Q3 2024
TECH DIGEST- The Information and Communications Technology (ICT) sector, one of the driver of Nigeria’s economy, experienced a slight slowdown in the third quarter of 2024. According to the National Bureau of Statistics (NBS), the sector contributed 16.35% to the country’s real Gross Domestic Product (GDP), a decrease from the 19.78% recorded in the previous quarter.
Despite the quarterly decline, the ICT sector’s contribution to the GDP remained higher than the 15.97% recorded in the same period of the previous year. This indicates that the sector continues to be a significant growth driver for the Nigerian economy.
While the reasons for the quarterly decline are not explicitly stated, it is likely due to various factors such as economic fluctuations, regulatory changes, or global technological trends. However, the overall positive trend in the ICT sector highlights its resilience and potential for further growth.
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