Informational and Communications Technology ICT was conspicuously missing in President Mohammed Buhari’s first year speech to mark Democracy Day on May 29, 2016. The president minister overseeing ICT sector is a barrister at law, Adebayo Shittu.
In the 2,658 words speech, President Buhari mentioned farming, climate change, Ebola, and increase petrol pump price and lots more. But he did not remember one of the major drivers of Nigeria’s economy and major contributor to Gross Domestic Product (GDP).
Our Correspondent gathered that telecoms and ICT sector have 9.25 percent contribution to GDP in the past year. This represents about more than N6.97 trillion (($44.3 billion) )of the out the total rebased GDP estimate at N80.22 trillion ($510 billion) which ICT contributed to the nation’s economy in the period under review.
According to the NCC, telecoms would contribute 15 per cent to GDP by 2015 and hat ICT sector will continue to make meaningful impact in the economy. The growing sector will contribute about 15 percent to the country’s GDP by 2015.
This will represent about 95 percent jump from its 8.53 per cent performance in 2013.
Reports from the National Bureau of Statistics showed that ICT contribution to GDP has been on the increase. It stated that from 2006 to 2012, the industry reportedly contributed 1.91, 2.31, 2.92, 3.66, 4.56, 5.67 and 7.05 percent, respectively to the GDP.
This represents a progressive increase and according to NCC this is set to more than double going by the massive investment in the sector.
IT NEWS NIGERIA gathered that, with over N4.02 trillion investments in the last 13 years, 136 million customers, telecoms industry alone helps grow the economy and offers young people platforms for creativity.
Nigeria has been acknowledged by the International Telecommunications Union (ITU) as the fastest growing telecoms country in the world and that it has created more than three million direct and indirect employment and served as a growth enabler to other sectors of the economy.
ICT industry has further be identified and places as a key sector in the economy that attracts foreign direct investment and per capital growth of Nigerians.
However, former Minister of Communications Technology, Omobola Johnson said last year that Nigeria’s Information and Communications Technology (ICT) industry can increase the country’s GDP by 3 percent if it achieves its target of a five-fold increase in broadband penetration by 2017.
“If we achieve our targets of a five-fold increase in broadband penetration by 2017, from 6 percent to 30 percent, we will deliver through broadband, a phenomenal 3 per cent increase in GDP,” she explained, adding that the National Broadband Strategy and Roadmap will “articulate” how Nigeria will deliver its broadband targets across different tiers of governance.
The sector accounted for about 10 per cent of nominal GDP in 2014 with a direct contribution of around 600 billion Naira to the economy in the same year. Our sector accounted for over 30 per cent of the Nigerian Foreign Direct Investment since deregulation in year 2001 and well up to half of our Country’s Foreign Direct investment in between some years since 2001.
Our sector has created over 20,000 direct jobs since liberalization and 1.5 million indirect jobs since deregulation.
Speaking about Agriculture, Buhari said Labour Intensive Farming Enterprise will boost the economy and ensure inclusive growth in long neglected communities. Special intervention funds through the Bank of Agriculture will provide targeted support. Concerns remain about rising cost of foods such as maize, rice, millet, beans and gari. Farmers tell me that they are worried about the cost of fertilizers, pesticides and the absence of extension services.
. Abroad, we want to assure our neighbours, friends and development partners that Nigeria is firmly committed to democratic principles. We are ready partners in combating terrorism, cyber crimes, control of communicable diseases and protection of the environment. Following on the Paris Agreement, COP 21, we are fully committed to halting and reversing desertification. Elsewhere, we will intensify efforts to tackle erosion, ocean surge, flooding and oil spillage which I referred to earlier by implementing the United Nations Environment Programme (UNEP) report. We are grateful to the international community notably France, the US, UK and China for their quick response in helping to tackle the recent Ebola outbreak in our sub-region. We also acknowledge the humanity shown by the Italian and German governments in the treatment of boat people, many fleeing from our sub-region because of lack of economic opportunity. We thank all our partners especially several countries in the EU
