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Services Sector Contribution to GDP in Nigeria (1990-2022)

Services Sector Contribution to GDP in Nigeria (1990-2022)

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TGM StatBox. (2024). Services Sector Contribution to GDP in Nigeria (1990-2022). TGM StatBox.
Chart Details
Data Source: World Development Indicators.
Timeframe: 1990-2022
Country: Nigeria
Published date: 2024
Note: Services (% of GDP), according to World Development Indicators, measures the contribution of the services sector (such as retail, finance, healthcare, and tourism) to a country's GDP.
Key Takeaways
Nigeria’s services sector experienced steady growth, reaching a peak of 59.8% in 2016, before settling at 44% in 2022. Expansion in telecommunications, banking, and retail fueled early growth, but recent declines likely reflect oil sector fluctuations and economic restructuring. Ongoing digital transformation remains key to future sector resilience.

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