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ICT sector nosedives, despite exit from recession

By Emmanuel Elebeke

ABUJA— Report of National Bureau of Statistics, NBS, indicated, yesterday, that all seem not to be well with the Information and Communications, ICT, sector, despite the economy exiting recession.

This is because the sector has shown a decline by -1.5 per cent in Q2 2017 from 2.73 per cent in Q1 2017 and 1.38 per cent in Q4 2016.

NBS, yesterday, through its quarterly data publication, announced that Nigeria exited recession with 0.6 per cent growth in Q2 2017.

The 2017 second quarter growth rate of 0.6 percent (year-on-year) was 2.04 per cent higher than the rate recorded in the preceding quarter, revised to 0.91 per cent from -0.52 per cent as a result of the reviewed crude output for March 2017.

Telecommunications

The telecommunications segment, according to the statistical body, also contracted in the period under review by 1.92 per cent in Q2 2017 from 2.89 percent in Q1 2017 and 1.03 percent in Q4 2016.

Publishing

In the publishing subsector, the economy on the contrary, grew by 2.83 per cent in Q2 2017 from 1.03 per cent in Q1 2017 and 0.46 per cent in Q4 2016.

Post & Courier

In the postal and courier segment, the NBS report indicated that postal and courier services under transportation and storage grew by 1.14 per cent in Q2 2017 from 0.53 per cent in Q1 2017 and 20.19 per cent in Q4 2016.

Motion pictures

For the motion pictures, sound recording and music production segment, the economy also contracted by -4.53 per cent in Q2 2017 from 2.95 per cent in Q1 2017 and -1.08 per cent 2017.

Broadcasting

In the broadcasting sub-sector, however, it was indicated that the economy recorded a growth of 1.84 per cent in Q1 2017 and 5.33 per cent in Q4 2016.


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