Nigeria’s Information and Communications Technology (ICT) sector posted a remarkable 31.63% year-on-year growth in nominal terms in the first quarter of 2025, according to newly released data from the National Bureau of Statistics (NBS).
The figure represents a sharp rebound from the 3.40% growth recorded in the same period of 2024, underscoring the sector’s surging importance as a key driver of Nigeria’s economic growth.
The latest GDP report also shows that the ICT sector’s contribution to nominal GDP climbed to 10.29% in Q1 2025, up from 9.25% in Q1 2024 and 8.55% in Q4 2024 — further evidence of its growing weight in the economy.
In real terms, adjusted for inflation, the ICT sector grew by 7.40% year-on-year, improving on the 4.04% recorded in Q1 2024. However, real growth declined by -8.86% quarter-on-quarter, reflecting a seasonal slowdown typically observed after the end-of-year surge in digital activity.
Despite this quarterly dip, the sector’s contribution to real GDP rose to 10.59%, up from 10.17% in Q1 2024 and 9.32% in the previous quarter.
The robust figures follow the NBS’s GDP rebasing exercise earlier this year, which updated Nigeria’s base year from 2010 to 2019 — a move aimed at capturing newer, fast-growing segments of the economy such as digital services and fintech.
According to the NBS, the rebasing resulted in a 41.7% upward revision of 2019 nominal GDP, with similar increases recorded in subsequent years: 39.0% in 2020; 38.7% in 2021; 36.1% in 2022; 34.6% in 2023 and 35.4% in 2024.
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The NBS said 2019 was chosen as the new base year due to its relative economic stability compared to other years marked by global and domestic shocks.
Dr. Hadiza Salami, digital economy consultant: “This 31.63% nominal growth is an affirmation of how integral ICT is becoming to Nigeria’s economic framework. With increased smartphone penetration and digitization of services, the sector is now a backbone for commerce, education, and entertainment.”
Professor Dapo Ogunlesi, economist at the University of Lagos: “While these figures are promising, we must be cautious about over-relying on nominal growth. Real growth, although steady, saw a quarter-on-quarter decline. This signals potential weaknesses that could arise from seasonal patterns or infrastructural gaps.”
Uche Mordi, telecom analyst: “Rebasing has undoubtedly helped give a more accurate reflection of ICT’s contribution. However, we must match these numbers with regulatory improvements, tech infrastructure investments, and reliable power supply if we are to sustain the momentum.”
The performance of the ICT sector is expected to play a pivotal role in shaping Nigeria’s medium- and long-term economic strategy, especially in the implementation of the 2026–2028 Medium-Term National Development Plan.
With Nigeria’s digital economy expanding and more sectors integrating technology into operations, the ICT sector is poised to remain a central engine for economic diversification — provided the right investments and policies follow.