Telecom
ICT Contribution of 17.92% to Nigeria’s GDP, Its Highest Ever – Pantami
Dr Isa Ali Ibrahim Pantami, minister of Communications and Digital Economy, said the Information and Communications Technology (ICT) has contributed 17.92 per cent to Nigeria’s Gross Domestic Product (GDP) its highest ever in the history of the nation.
Dr Isa Ali Ibrahim Pantami
Dr Pantami stated this in a statement signed by Femi Adeluyi, technical assistant, Information Technology to the Minister on Thursday in Abuja.
According to Pantami, we’re highly delighted to hear of the growth of the contribution of the Information and Communications Technology (ICT) sector to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2021 (Q2 2021).
“The National Bureau of Statistics (NBS) indicated this in the ‘Nigeria’s Gross Domestic Product Report’ for Q2 2021 released today, the 26th of August, 2021.
“It is noteworthy that the ICT sector contributed 17.92% to the total real GDP in Q2 2021, 20.54% higher than its contribution a year earlier and in the preceding quarter, in which it accounted for 14.91%.
“This is the highest contribution of ICT to the GDP and is truly unprecedented.
According to the NBS, “Nigeria’s GDP grew by 5.01%(year-on-year) in real terms in the second quarter of 2021, marking three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of 2020.
“The negative growth was triggered by COVID-19, not only in Nigeria but also globally. Even within that period, the ICT sector in Nigeria continued to experience positive growth.
“The oil sector contributed 7.42% to total real GDP in Q2 2021, down from figures recorded in the preceding quarter, where it contributed 9.25%. The non-oil sector grew by 6.74% and contributed 92.58% to the GDP”.
The Minister further noted that the growing contribution of the ICT sector to the GDP is as a result of the commitment of the administration of President Muhammadu Buhari, GCFR to the development of the digital economy.
He also attributed this to the 16 National Policies developed by the Ministry, the 1,667 projects and programmes, the large scale digital skills and general capacity building efforts, stakeholder engagement and creation of an enabling environment all played an important role in the achievement.
Pantami further stated that the support of President Muhammadu Buhari, contributed immensely to the impressive developments in the sector.
“The unprecedented contribution of ICT to Nigeria’s GDP can also be attributed to the dynamic and results-oriented leadership of the sector, which has been acknowledged and appreciated by a wide spectrum of the stakeholders in the sector, both locally and internationally.
“For example, Mr Houlin Zhao, the Secretary General of the International Telecommunications Union (ITU) commended us for Nigeria’s “accelerated digital transformation”.
“Similarly, the Chairman of the United States-Nigeria Council (USNC) also commended him for the “commitment to diversifying Nigeria’s great economy through digital technology and innovation.”
“The GDP Report has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy,” he added.
The Honourable Minister also renewed calls to all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of ICTs.
This he said would enhance the output of all the sectors of the economy and boost Nigeria’s GDP.
Google has launched its Search Live feature globally to over 200 countries, including Nigeria, where AI Mode is available, enabling voice-and-camera conversations in users’ preferred languages.
Powered by the new multilingual Gemini 3.1 Flash Live model, it delivers natural, real-time interactions via the Google app on Android or iOS—tap the Live icon under the Search bar.
Ideal for hands-free help, users can speak queries for audio replies, follow-ups, or web links. Camera integration adds visual context, like troubleshooting a shelving unit, or pairs with Google Lens for real-world chats.
From the app or Lens, Nigerians can now explore, learn, or solve tasks instantly, boosting everyday productivity worldwide.
Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.
The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.
To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.
The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.
The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.
It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.
By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.
The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.
With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.
Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.
This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.
This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.
Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.
Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.
The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.
Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.
Kingsley Madu
The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.
Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”
Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.
Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.
As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.
Anti Graft Agencies Raise Alarm over Rising Crypto-Linked Financial Crimes
NITDA Takes Over National Digital Architecture System
NDIC Insures 99 Percent of Bank Customers
FG Shifting Focus to “Meaningful Connectivity” to Drive Inclusion – Minister
CBN Bars Chronic Loan Defaulters from Accessing Loans
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials
Spotify’s Loud & Clear Report Reveals Over ₦60Bn Revenue for Nigerian Artists in 2025
China Threatens to Shut Nigeria’s Satellite Over $11.44m Unpaid Debt
MTN Nigeria Posts Record N1.70 Trillion Pre‑Tax Profit, Declares N20 Dividend for 2025
Madonna University Taps Tech Guru Adote for Strategic Board Role
Telecom3 days agoUS Jury Finds Meta, Google Liable in Landmark Social Media Addiction Case
News3 days agoEU Pumps €290m into Nigeria’s Digital, Health, Agri Sectors
News3 days agoFirm Shares Tips for Updating Your Digital Habits for an AI-driven World
E-Business3 days ago5 Wealth-Building Strategies for Nigerian Women-led Businesses
E-Business3 days agoNigeria, Finland Sign Cybersecurity Pact
Telecom3 days agoMobile Money Transactions Accounted for $2 trillion in 2025
E-Financial3 days agoMoneyMaster Enhances App, Rewards Users with Data and Airtime Bonuses
General News2 days agoNCC to Curb SIM Fraud, Strengthen Digital Security with New Platform