In Q1 2025, Nigeria's digital economy made a significant contribution to the real Gross Domestic Product (GDP), accounting for 14.19% of the total output.
General Indicators of Nigeria’s Digital Economy
According to the National Bureau of Statistics (NBS), Nigeria's digital economy contributed N7 trillion to the real GDP, representing 14.19% of the total N49.34 trillion. The total real GDP grew by 3.13% compared to 3.76% in Q4 2024.
Results by I&C and Financial Institutions Sectors
The Information and Communication (I&C) sector contributed 10.59% to the total real GDP, while the Financial Institutions (FI) sector accounted for 3.60%. I&C was the fourth best-performing sector behind Trade, Crop Production, and Real Estate, while FI ranked eighth. During the quarter, I&C experienced a Year-on-Year growth rate of 7.40%, although it declined by -8.86% on a quarter-on-quarter basis.
Comparison with Q4 2024
The digital economy's contribution to Nigeria's real GDP decreased from 11.8% in Q4 2024, when it reached N7.2 trillion. In this quarter, the I&C sector contributed 9.34%, while the FI sector brought in 2.46% of the total real GDP. The 2.8% decline can be attributed to the overall drop in real GDP from N61.4 trillion to N49.34 trillion.
The digital economy continues to play a crucial role in Nigeria's economy, significantly contributing to the overall GDP, evidenced by sector growth despite existing challenges.
