Information Communication Technology has shown significant source of resilience in mitigating impact of COVID-19 on economy- Emefiele

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“Information Communication Technology is another sector which has emerged as a significant source of resilience in mitigating the impact of COVID-19 on the economy”

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, who expressed his optimmism at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos at the weekend said Information Communication Technology (ICT) is another sector which has emerged as a significant source of resilience in mitigating the impact of COVID-19 on the economy.

 

Emefiele noted that in the third quarter of 2020 report, the ICT sector made contributions of over 17.8 per cent to GDP growth, 47 per cent higher than its contributions a year earlier. The growth of startups in the fintech and health care space rose in response to the pandemic, he added.

“It is important that we leverage ICT as an enabler for growth in key sectors of the economy. It is important that the banking sector consider viable IT firms in these areas that have the potential to, serve the needs of the local market.”


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