economic - nigeria Flashcards
where is nigeria
west africa
borders Benin, Niger, Chad, Cameroon
tropical climate, hot most of the year
global importance of nigeria
NEE - period of rapid economic development
supplies lots of the world’s oil - much of country’s economic based on that
financial services, telecommunications and media - lagos thriving global economic hub
major contributor to UN peacekeeping missions
regional importance of nigeria
one of the fastest growing economies, highest pop, highest farm output in africa
critical for the rest of africa to develop
political aspects of nigeria
became fully independent in 1960, civil war 1967-1970, lack of political stability affected nigeria’s development
social aspects of nigeria
multi-ethnic, multi-faith
tensions have risen due to economic inequality
cultural importance of nigeria
diverse population
nollywood - second largest film industry in world, music, literature, nigerian football team won the african cup of nations 3 times
environmental importance of nigeria
natural environments form series of bands across the country
deforestation, fatal parasites (tsetse fly), oil industry responsible for considerable environmental degradation - forest fires, oil spillage
nigeria’s changing economy
agriculture steadily declined due to machinery and competitions of other forms of employment
industrial sector 27% of GDP, fastest growing in africa
rapid growth of communications, retail and finances has led to expansion of service sector
advances in tech, concern for environment, more people speak english, investment in science and technology
nigeria’s manufacturing sector
growing home market, relatively cheap labour, improved infrastructure
stimulated economic development - secure income so people spend more money, revenue from taxes increases, attracts foreign investment
transnational corporations +adv,disadv
large company that operates in several countries - take advantage of cheap labour and access to wider market
pro - companies give employment and development of new skills, more money spent in economy, invest in local education, infrastructure
con - sometimes poor pay, working conditions, high up jobs foreign employees, much profit goes abroad
shell in niger delta
one of the largest oil companies, headquarters in london, controversial extraction of oil in niger delta
advantages of shell in nigeria
employ 2700 people, 9000 contractors
use nigerians companies
provide 3000 scholarships in nigeria
disadvantages of shell in nigeria
oil spills, oil theft and sabotage, most profits not to nigeria, human rights abuses to ogoni people in niger delta
nigeria’s political links
african union - economic planning and peacekeeping group
ECOWAS - trading group
UN - united nation
CEN-SAD - same as ECOWAS and seeks sporting links
OPEC - stabilise price and supply of oil
WTO - world trade organization
nigeria’s global trading relationships
main exports - crude and refined petroleum, natural gas, rubber, cocoa and cotton
imports - refined petroleum from EU+USA, cars from Brazil+USA, telephones from China, wheat, rice
