Economic Development of Nigeria Flashcards
Nigeria supplies _____% of the world’s oil.
2.5
Nigeria was part of the British Empire until it became independent in _______.
1960
Nigeria is part of the:
- Group that peace-keeps and plans economically.
- Group that stabilises the price and supply of oil.
- OPEC
- African Union
What are 3 of Nigeria’s main exports?
1.
2.
3.
- Crude oil
- Cocoa
- Cotton
Why is Nigeria’s crude oil named “sweet oil”
Because it has less than 42% sulphur.
Where was oil discovered in Nigeria in the 1950’s?
The Niger Delta.
Oil makes up what percent of export earnings?
86%
Employment in agriculture has steadily declined due to:
1.
2.
- Increase in farm machinery.
- Increased reliance on crude petroleum instead of agricultural products.
Nigeria has a dominant primary sector because of the _______________ and __________________________.
The industrial sector has only _________________ because ________________________________.
The services sector has ______________ because of the _______________________________________________.
petroleum and agriculture industries
grown slightly
machinery makes less jobs available
grown rapidly
expansion of the telecommunications market
What is a TNC (Trans-National Corporation)?
A large company that operates in several countries.
A TNC has _______________ in one country.
And ________________________ in several others.
headquarters
multiple production plants
What are 2 advantages of TNCs?
1.
2.
- Provides employment opportunities.
- Investment by TNC’s into public services.
What are 2 disadvantages of TNCs?
1.
2.
- Working conditions are often poor.
- Management jobs are given to foreign employees of the TNC instead of host country employees.
How much people does Unilever employ currently?
1500 people.
How much people does Shell employ currently?
65,000 people directly.