The information communication sector grew 9.88percent in Q3 2019 from 9.01percent in Q2 2019 and 12.09percent in Q3 2018.
Telecommunications & Information Services under the Information and Communication sector grew by 12.16percent in Q3 2019 from 11.34percent in Q2 2019 and 14.97percent in Q3 2018.
The sector which comprises four activities includes telecommunication and information services; publishing motion picture; sound recording and Music Production; and Broadcasting.
Read also: Spotlight on Nigeria’s telecommunications sector
As a share of real GDP, the sector contributed 11.34percent in Q3 2019, higher than in the same quarter of the previous year in which it accounted for 10.55percent of real GDP, but lower than the preceding quarter, in which it accounted for 14.55percent
In nominal terms, the third quarter of 2019 saw the sector grow by 11.19percent (year-on-year), a –2.21percent points decrease from the rate of 13.40percent recorded in the same quarter of 2018, and 29.35percent points lower than the rate recorded in the preceding quarter. The Quarter on quarter growth rate recorded in the Q3 was –33.30%. T
The sector contributed 8.54percent to nominal GDP in Q3 2019, lower than the 8.70percent recorded in the same quarter of 2018 and the 13.83percent it contributed in the preceding quarter.
The sector recorded a growth rate of 9.88percent in real terms, year on year. This indicates a decrease of 2.21percent points from the rate recorded in the corresponding period of 2018. Quarter on quarter, the sector exhibited a growth rate of 14.89percent in real terms.
