Changing Economic World : Nigeria Flashcards
What is Nigeria’s population?
200 million
What will Nigeria’s population be in 2050?
Nigeria’s population is set to soar to 300 million by 2050 - 4th largest in the world
What are some of Nigeria’s economic advantages?
Geographical location - good trade links over the sea
High population - large workforce
Oil - makes up 14% of Nigeria’s GDP and 98% of all export earnings
Stable government
Nigeria’s major exports are…
Oil (crude and refined) & ‘sweet’
Gas
Cocoa
Rubber
Cotton
Nigeria’s major imports are…
Cars
Mobile Phones
Rice
Wheat
When did Nigeria gain independence from the UK?
1960
Since what year has Nigeria had a stable government?
1999
What has Nigeria’s stable government meant for the country?
More chances of improvement in the country (e.g. infrastructure)
Increased FDI (Foreign Direct Investment)
What organizations is Nigeria involved in?
The African Union - economic planning
OPEC - the top 20 oil exporters who control prices
UN (United Nations)
ECOLAS - a trading group in West Africa
What does Boko Haram want?
To impose Islamic Law
Where are Boko Haram active in Nigeria?
In northern parts of the country
How many people died from an attack by Boko Haram in 2016
1500 people died as Boko Haram attacked churches and markets
Nigeria : What percentage of people go on to secondary education in:
Urban areas
Rural areas
Urban areas - 60% go on to secondary education
Rural areas - 30% go on to secondary education
- Highlights massive regional differences in education levels
The name of Nigeria’s film industry & its ranking
‘Nollywood’
-The second film industry in the world
What is a balanced economy?
A balanced economy is having the same or similar numbers of people employed in and income from each industrial sector
Nigeria : How much has employment in the primary sector decreased?
Decreased 30% due to use of farm machinery and better pay in other sectors
Nigeria : How much has employment in the secondary sector increased?
Increased 30% due to industrialisation and economic growth
Nigeria & environmental impacts of its growth : Industrial growth
-massive illegal small scale industry (10,000)
-70-80% of forests destroyed through logging
-Causing accelerated desertification
What are some reasons for Nigeria’s economy developing?
Rapid advances in technology
Many English speakers so potential growth in telecommunications
Investment in science and technology training
Industrial growth
Nigeria & Shell : Advantages
-Major contributions in taxes and export revenue
-91% of contracts go to Nigerian companies
-Energy sector experience rapid growth
-Long term commitment to country and its people
-extensive social development programs in Niger delta
=> providing running water and electricity
-more than 3000 secondary and university scholarships each year
Nigeria & Shell : Disadvantages
-Government & shell work togther to silence discontent
-federal government is 60% share holder in shell activities in Niger Delta
-Oil spills cause soil degridation + water pollution
=> agriculture & fishing suffered
- Oil flares realise toxic fumes
-militant groups target oil supplies
-oil theft and sabotage are common
=> oil tapping equipment used on pipes
Nigeria & environmental impacts of its growth : Industrial growth
-massive illegal small scale industry (10,000)
-70-80% of forests destroyed through logging
-Causing accelerated desertification
Nigeria : why is there a quality of life imbalance
Similar to Jamaica.
-Corruption is a key cause
-loss of $1 billion in oil each month due to crime.
