Economic Change In Nigeria

Question 1

Importance?

Answer 1

One of the fastest growing economies in Africa.had highest gdp in africa in 2014.supplies 2.7% of world’s oil

Question 2

Nigeria as a growing economy?

Answer 2

Manufacturing is fastest growing sector,giving regular paid work,and attracts foreign investment

Today oil accounts for 14% of gdp.98% of its exports earnings

Question 3

Role of tnc (shell in nigeria)?

Answer 3

Adv-Shell provides direct employment for 65000 nigerian workers and 250000 jobs in related industries.(boots their economy)

Adv-Governments benefit from export taxes,that csn be spent on improving education,infrastructure and healthcare (multiply effect)

Diss-tankers transport oil to europe and usa.means profit goes abroad rather that host country

Question 4

Impacts of aid in nigeria?

Answer 4

Long term-uk provided 305m for improving infrastructure around niger delta bh building more powerstations.(adv helps people access jobs and markets)(diss-doesnt support poor in north so isnt reducing gap across nigeria)

Tied aid-china provided 11b loan to improve railway networks across coastline.in return nigeria supplied them with 30,000 barrells of oil a day.
(Adv-helps to develop infrastructure/industry increasing jmber of jobs)
(Diss-china using a huge supply of their most expensive resources.)

Question 5

Environmental impacts of development?

Answer 5

70-80% nigerias forests have been destroyed (release co2/ghg into atmosphere)

Commercial farming has led to land degradation (increase pollution)