The 2020 global gender gap report released by the World Economic Forum (WEF) shows that Nigeria ranks 128 out of 153 countries, indicating a 5-point increase from the 2018 ranking and consequently narrowing the gender gap. This rise towards gender parity was driven by improved economic participation and opportunities for females. Nigeria has so far closed 63.5% of its gender gap 4 but still stands to improve its efforts in balancing education, health, political and income disparities. This is as the nation continues to underperform against contemporaries within the region like Ghana. An increase in the economic engagement of women has the potential to not only increase household income but also induce stronger economic growth. To further narrow the gender gap, backward religious, cultural and social norms that limit the participation of women in the economy, and hinder girls from accessing education should be eliminated.