Agriculture.
The single most important contribution of the Nile River to Egypt was that of agriculture. The annual floods deposited a layer of nutrient rich silt, making the Nile Valley one of the most agriculturally productive areas on Earth. The production of food was the single most important necessity of ancient cultures. Once that essential need was met the Ancient Egyptians had a valuable byproduct--time. And what they did with that byproduct is what shaped their history, and that is why even today we can see the remains of arguably the most interesting civilization that ever existed.
Economics
Agriculture made the Ancient Egyptians a very wealthy people. Their agricultural surpluses generated vast amounts of money in the way of raw materials and finished goods which allowed Egypt to become one of the most, if not the most powerful nation in the region.
Culture/Religion
The great amount of surplus wealth that agriculture generated allowed Egypt to advance both in culture and religion. In fact the priesthood, which held a huge amount of land and other wealth, was often more powerful than Pharaoh himself, exerting its influence on virtually every aspect of Egyptian life, especially on that of the Pharaoh from the time of childhood to his death. And of course we all know about the religious burial rites that sent Pharaoh into a glorious afterlife.
Pyramids were built to honor passed ruler and told their tombs in to the afterlife.
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