Nigeria Flashcards
Where is Nigeria located?
Nigeria is in West Africa, bordering four countries, extending from the Gulf of Guinea in the south to the Sahel in the north.
What is Nigeria’s global economic ranking as of 2014?
In 2014, Nigeria was the 21st largest economy in the world.
What percentage of the world’s oil does Nigeria supply?
Nigeria supplies 2.7% of the world’s oil.
What is a significant aspect of Nigeria’s economy?
Nigeria has developed a diverse economy, including financial services, telecommunications, and media. Also oil.
What is Nigeria’s population status in Africa?
Nigeria has the largest population of any African country.
203 million
What is the significance of Nigeria’s GDP in Africa?
In 2014, Nigeria had Africa’s highest GDP.
What is notable about Nigeria’s manufacturing sector? In 2014
Nigeria had the third largest manufacturing sector in Africa.
What is the primary employment sector in Nigeria?
A large proportion of people are employed in agriculture, mostly as subsistence farmers.
What challenges does Nigeria face despite its potential?
Nigeria faces problems with internal corruption and lack of infrastructure.
What has been the political situation in Nigeria since 1999?
Since 1999, Nigeria has had a more stable government.
What is the urban population percentage in Nigeria as of 2015?
48.10%
What is the film industry in Nigeria
Nollywood- second largest itw
What does OPEC stand for and what is its importance
Organisation of petroleum exporting countries aims to stabilise the price of oil and ensure a regular supply
What does ECOWAS stand for? And what is its importance?
Economic community of West Africa states it’s a trading group. Essential for intercontinental trade to help African economies develop.
What is Nigeria’s agricultural trading importance?
Australia (30%) and Indonesia (15%) are the biggest customers for Nigerian cotton
What is Nigeria’s most important export?
crude oil.
Up until recently the greatest demand for Nigerian oil was from the USA. India is now Nigeria’s biggest customer.
How has Nigeria’s economy in terms of primary secondary and tertiary changed from 1999 to present day?
There has been major growth of communications retail and finance in the (tertiary sector.)
Employment in agriculture (the primary sector) has fallen due to increased use of farm machinery . Industrialisation has increased employment in oil production manufacturing and other industries (secondary sector.)
What percentage of Nigeria’s GDP does manufacturing industry account for?
10%
How is the manufacturing industry positively affecting economic development? And helps people how? (Nigeria)
Regular paid work gives people are more secure income.
A thriving industrial sector attracts foreign investment.
A multiplier effect of growth from oil processing leading to the growth of chemical industries, including soaps and plastics
Name a transnational corporation that operates in Nigeria
Shell
Oil was discovered in Nigeria in ____
1956
What is shell and what do they do
Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemical
Where does shell put the profits from the oil they extract in nigeria
They go abroad and not to the host country (nigeria) headquarters (london and the Netherlands)
How much oil has been spilled since 1958
9 billion barrels worth
