The economic recession in the country has left many sectors hanging in the balance for survival.
According to a report released on Wednesday by the Nigerian Bureau of Statistics (NBS), the Nigerian economy was confirmed to officially be in a recession as the second quarter GDP came in at -2.06%, after declining by -0.36% in the first quarter while the information and communication sector growth slowed by 6.66 percent.
“The Information and Communication sector is composed of four activities: telecommunications and information services; publishing; motion picture, sound recording and music production; and broadcasting.
“In nominal terms, the sector slowed by 6.66 percent (year-on-year) in the second quarter of 2016, which was 15.35 percent points lower than that recorded in the preceding quarter.”
Despite the growth of the broadcasting sector, the telecommunications and information services experienced a slow growth rate.
“Broadcasting was the activity to exhibit the highest nominal growth rate in the period of review, at 18.32 percent. The growth of the telecommunications and information services eased as a result of lower active subscribers.”
It is however unclear what the growth rate of the entertainment sector is, as there are no available data due to absence of growth indicators.
“The sector (information and communications) contributed 12.68 percent in the second quarter of 2016, lower than in the same quarter of the previous year, and the preceding quarter, in which it represented 12.25 percent and 11.98 percent of the totals respectively.”
Dolapo is a writer and journalist who works with YNaija. He has interests in Christianity, politics and sports.
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