INDIA VS NIGERIA (In terms of Service Sector Contribution to GDP)
India’s distribution of GDP across service sector is increasing year on year from
2013 to 2019.In 2013, service sector contributed ,46.7% to country’s GDP while
in 2019 , it contributed 49.88% to country’s GDP. While this is reverse in case of
Nigeria. In Nigeria, there is sharp decline in contribution by service in country’s
GDP from 2013 to 2019.It was rising till 2015. In 2015, service sector contributed
,40.29% to country’s GDP ,But after 2015, it started falling and In 2018 , service
sector contribution to Nigeria’s GDP was 36.25%.
Strong and consistent emphasis on self-reliance in its economic development
programmes over the years by the Government of India have enabled India to build
up a huge and versatile cadre of professionals with expertise and skills across a
vast and wide-ranging spectrum of disciplines like Health Care, Tourism,
Education, Engineering, Communications, Transportation, Information
Technology, Banking, Finance, Management and a host of others. A sizeable part
of this workforce of professionals makes up the country’s growing consultancy
sector which is offering its accumulated experience and expertise at home and
abroad.
While in Nigeria , the activities of the education subsector have not contributed
significantly to economic growth. Thus, for education to contribute positively to
economic growth there is a need for increase in budgetary allocation to education
subsector. As a knowledge-intensive sector, enhancing services will require the
possession of adequate skill and knowledge base as established in the human