Balancing Nigeria's changing industrial structure Flashcards
Why has employment in agriculture steadily declined
increasing use of farm machinery and competition from other forms of employment
What are the outcomes of rapid growth of communications, retail and finances
expansions of tertiary (service) sector.
What has Nigeria’s economy been dominated by
Agriculture but steadily shifted to services
Nigeria’s growing manufacturing sector
cheap labour force and improving infrastructure.
Effect of manufacturing on economy:
Labour
Regularly paid work gives people a more secure income and provides larger home market
Effect of manufacturing on economy:
Growth
manufacturing industries stimulate growth to close links between companies
Effect of manufacturing on economy:
Employment
as industries grow, more people are employed, revenue from taxes increases
Effect of manufacturing on economy:
Foreign influence
Thriving industrial sector attract foreign investment leading to more economic growth
Effect of manufacturing on economy:
Oil
oil processing has created chemical products, leading to growth in chemical industries such as soap and detergents