With an impressive 20.1% CAGR, the Industry (including construction) has experienced the fastest expansion, more than doubling its contribution to GDP over the period.
Services remains the largest contributor to GDP, but its growth at 14.6% CAGR is being outpaced by Industry, signalling an evolving economic structure.
Agriculture’s 11.2% CAGR shows steady growth, but its share of GDP is shrinking compared to the industrial and service sectors.
The rapid growth in Industry reflects Tanzania’s shift towards manufacturing, construction, and infrastructure development.
Unlike decades ago, when agriculture dominated, today’s GDP contributions are more balanced between Services, Industry, and Agriculture, reducing reliance on any single sector.
Niger’s 9.9% GDP growth in 2024 was the highest among African nations
At 7.0%, Rwanda remained one of Africa’s most consistent high-growth economies.
Despite being Africa’s largest economy, Nigeria’s 2.9% GDP growth is modest compared to smaller, more agile economies, signalling potential challenges in leveraging its vast resources.
The contrast between Niger’s 9.9% growth and Nigeria’s 2.9% highlights how smaller nations can outperform larger ones.
With a score of 0.935, Iceland continues to set the benchmark for gender equality.
Namibia (0.805) and Nicaragua (0.811) are redefining expectations, proving that gender equality is not just a goal for wealthier nations but a global priority.
Germany (0.810), Ireland (0.802), and Lithuania (0.793) highlight Europe’s dominant role in advancing gender parity, setting examples for other regions.
Namibia (0.805) and South Africa (0.785) represent two of Africa’s most gender-equal societies.
Nigeria has a score of 0.65, making it the 125th country worldwide
Participation in Nigeria’s National Open Apprenticeship Scheme has dropped by over 50% since 2021, with male and female enrolments declining significantly; over the years, there have been more female participants. The declining participation rates raise questions about awareness, funding, and programme efficiency.
For many Nigerian youths, apprenticeship programmes are a gateway to self-reliance and stable income. The National Open Apprenticeship Scheme is a National Directorate of Employment (NDE) programme that upskills unskilled and unemployed people and equips them with relevant demand-driven skills.
Over the years, many African countries, including Nigeria, have experienced economic turbulence caused by fluctuating global markets and domestic challenges. However, amidst these challenges, there’s hope as IMF economic forecasts point toward growth.
According to the IMF, GDP per capita in Nigeria and Africa is projected to increase from 2025 after years of stagnation and decline. Nigeria’s GDP per capita fell sharply from $2,197 in 2022 to $877 in 2024. Encouragingly, growth is expected with projections of $1,047 for Nigeria by 2029, signaling a slow but steady improvement in living standards.
Nigeria’s GDP for 2024 is up by 3.2% so far, with key sectors driving the growth. In the first nine months of 2024, Finance and Insurance took the lead with a 30.3% increase, followed by Water Supply & Waste Management at 8.3%, and Mining and Quarrying with 5.7% growth.
These are the sectors leading Nigeria’s real GDP growth.
