ICT sector records massive growth

Omobola Johnson, Nigeria ICT minister

Omobola Johnson, Nigeria ICT minister

from AUGUSTINE OSAYANDE in Abuja, Nigeria
ABUJA – THE Minister of Information Communication Technology (ICT), Dr Omobola Johnson, said the local sector was one of the fastest growing in the world and continued to attract significant foreign direct investment.

She stated this during the presentation of the scorecard of the Ministry to Nigerians at the ongoing Ministerial Platform in Abuja.

Johnson said the total mobile subscriptions increased from 95 million in 2011 to 134,5 million as at September 2014.

She added that tele-density increased from 68 percent in 2011 to 96 percent during the period while mobile internet subscriptions increased from 45 million in 2011to 73,8million as at September 2014.

The Minister said internet penetration increased from about 26,5 percent in September 2011 to about 52 percent in September 2014.

Johnson said since its creation, the Ministry had been able to chart an increase in the contribution of the ICT sector to the national gross domestic product (GDP).

She said the improved environment assured by President Goodluck Jonathan’s Transformation Agenda had helped create local companies that were innovating and adding value to the Nigerian economy.

“The Information Communication Technology (ICT) industry in 2011 was dominated by the telecommunications sector and multinational corporations,” she said.

Contribution to GDP was approximately 5,46 percent.

There was a fragmented IT sector with small domestic players made up of approximately 350 companies.

Domestic value added in key areas was sub-optimal and it was characterized by consumer preference for global brands and high levels of importation of inputs and finished products, she said.

“The tariff regime and challenging operating environment for manufacturing encourages ensured that this was so,” she said.

She said the industry was now viewed as critical, ranked with oil, gas and power.

The ICT industry currently contributes 9,58 percent to GDP (Q3 2014) and is further enabling other parts of the economy.

– CAJ News

Short URL: http://cajnewsafrica.com/?p=3024

Posted by on Dec 16 2014. Filed under Featured, Finance, Finance & Banking, Governance, Mobile & Telecoms, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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