In Q2 2023, the utilities sector's economic contribution to Nigeria's GDP increased significantly
Nigeria's GDP increased in Q2 2023, with certain sectors prospering and others failing. Utility industries made significant gains that helped economic growth.
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