Technology sector’s contribution to GDP hits 11.18%

The National Bureau of Statistics (NBS) said the information and communication technology (ICT) sector contributed 11.18 per cent to Nigeria’s gross domestic product (GDP) in the second quarter of the year.

The ICT sector, which covers telecommunications and information services, publishing, motion picture, sound recording and music production as well as broadcasting, recorded a year-on-year real growth rate of 6.61 per cent in Q2.

Analysis of the Q2 GDP Report released on Monday also showed that the performance of the sector improved strategically. The sector grew by 2.23 percentage points over the 4.38 per cent growth recorded in the same quarter of 2024.

The ICT industry was among the top sectors that lifted the economy in the period under review. The Trade sector contributed 18.28 per cent to GDP, which made it the single largest contributor in Q2. The sector includes wholesale and retail.

Crop production contributed 17.8 per cent. Crop farming was the dominant sub-activity within agriculture and the second-largest contributor overall, while real estate services added 12.8 per cent.

The Livestock industry pulled 5.9 per cent and remained the next-largest agricultural contributor. Crude petroleum and natural gas added 4.05 per cent. The oil sector’s sharper rebound helped lift its share of the GDP.

According to NBS, the food, beverage and tobacco (manufacturing) sector added 2.87 per cent. The manufacturing sub-sector remained an important staple of industrial output.

The financial institutions, including banks and related financial services, contributed 2.84 per cent to the GDP.

In nominal terms, the tech industry expanded by 21.39 per cent year-on-year in Q2 2025, more than doubling the 10.21 per cent growth recorded in the same quarter of last year.

However, it was 10.25 percentage points slower than the growth pace seen in the previous quarter. The sector’s contribution to nominal GDP stood at 10 per cent, slightly above 9.82 per cent in Q2 2024 but marginally below the 10.29 per cent contribution in Q1.

The statistics bureau observed that ICT remained one of the strongest performers within the non-oil economy, helping to drive overall GDP expansion.

The non-oil sector grew by 3.64 per cent in real terms in Q2 2025, higher than the 3.26 per cent recorded a year earlier and the 3.19 per cent posted in Q1 2025.

The non-oil sector contributed 95.95 per cent to Nigeria’s real GDP in Q2 2025, underscoring the economy’s increasing reliance on sectors outside crude oil.

Although this share was slightly lower than the 96.49 per cent contribution recorded in Q2 2024, ICT’s rising momentum highlights its growing importance as both a stabiliser and growth catalyst for the Nigerian economy.

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