paper 2 economic development in Nigeria Flashcards
how has Nigerias economy changed (3)
LIC to a NEE - fastest growing economy in the world predicted to be inthe top 20 in the world by 2050
why is the population growing
high proportion of young and high birth rate so high natural increase
What are BRIC economies
4 countries in the world with fastest growing economies
Brazil Russia India China
What are MINT economies
4 countries just behind BRIT
Mexico Indonesia Nigeria Turkey
what are the reasons for Nigerias economic growth (2)
young population
high proportion of young educated people who provide skilled labour
what is Nigeria’s cultural make up
400 ethnic groups each with own language
south mostly christian
north muslim
what is environment like
5-12 degrees north of equator in Afria
tropical rainforest hot humid climate
most natural vegitation replaced by agriculture
what is political context (4)
since independence in 1960 it has had many civil wars and many military dictatorships
has stable democracy today - regular elections
still conflict in the north - an incident in 2014 276 schoolgirls were kidnapped by those who opposed education for girls
how is Nigerias economy changing (2)
has largest economy in Africa among fastest growing in the world
2011 GDP more than doubled because before they could not count new industries
how does this economic growth impact on the people (2)
most are still poor
there are regional inequalities most wealth in south around Lagos more poverty in North
how is nigeria’s industrial structure changing
changing from mainly agricultural economy to industrial because of urbanisation
what is the importance of oil and manufacturing in Nigeria’s economy
oil and gass account for 14% of Nigeria’s GDP and 95% of export earnings
what has oil income helped Nigeria to do
go from LIC to NEE
what is the disadvantage of this reliance on oil
vulnerable when world oil prices change - when they fall economy will be damaged
what is the impact of new manufacturing industries (4)
1 improving standards of living by producing products
2 reducing the need to import so goods are cheaper to buy
3 create jobs for people who will pay tax
4 expand into other countries and increase Nigeria’s influence