The changing economic world Nigeria/Jamaica Flashcards
Write a 9 marker introduction to Nigeria:
The case study I have learned about is Nigeria, a country located in the central west of Africa coasting the Atlantic Ocean. with an equatorial latitude between 0-15º North it borders Cameroon, Benin and Niger.
What is Nigeria’s global importance?
- its predicted to have the biggest GDP growth between 2010-15.
- it is the 12th largest oil producer and gets majority of its revenue from it.
-it has also developed more jobs in telecoms and financial services (banking)
-it is the 5th biggest contributor to UN peacekeeping around the world
What is Nigeria’s importance within Africa?
-Nigeria has the largest economy and GDP in Africa
-it has the 3rd largest manufacturing sector
-despite having land ownership quarrels, it is still the largest farming exporter, with 70% of its population being employed in the industry.
-has the largest population of 182 million
Outline one way that Nigeria is important globally:
Nigeria is the 12th largest oil exporter globally, meaning several countries rely on it for energy to power their industries which helps their development (such as powering an expanding manufacturing sector)
Outline one way that Nigeria is important within Africa:
Nigeria has the higher GDP and the biggest economy within Africa meaning that it plays a vital role in trade with other African nations as well as being politically involved.
Describe the political context behind Nigeria:
-prior the 1960’s, Nigeria was under the British Empire so its economy was fully governed by Britain and the country was exhausted of a productive population and its natural wealth.
-in the 1960’s Nigeria gained independence but experienced many civil wars and dictatorships.
-in 1999 Nigeria achieved a stable government with free elections.
-foreign companies are starting to invest into Nigeria to house their implantations
Describe the social context behind Nigeria:
-Nigeria is diverse, having a multi ethnic and faith population which may also lead to conflict
-fundamentalists have made the country unstable
-disparities in the economy of the north and south have caused tensions to rise ethnically and religiously.
-in the 1960’s, Nigeria experienced a civil war when one group tried to separate from the rest of Nigeria.
Describe the cultural context behind Nigeria:
-Nigeria has their own music style and film industry (Nollywood) which is enjoyed throughout the world.
-has the 2nd largest film industry in the world
-Nigerian teams have won the African cup of Nations and Nigerian players have played in the Premier League.
Describe the environmental context behind Nigeria:
-the north is under Savannah and Sahel desert
-the south is wetter forests
-in the south the Tsetse fly spreads lethal parasites to pasture disabling farmers from keeping their livestock.
Explain how development in manufacturing stimulates economic development (6 marks):
the case study I’ve learned was Nigeria, who after achieving a stable government in 1999, has attracted the investment of TNCs such as Shell, to establish oil refineries in the country which has brought many job opportunities for the locals to earn better incomes and boost the country’s economy. Shell firms import components or products for Nigerians to handle, this helps them progress from primary jobs that handle raw (lower valued) materials to secondary (higher paying jobs). with a higher source of income, locals are able to better their life quality by spending more on local businesses. both people and businesses contribute more taxes to the government to fund the multiplier effect, which may improve the country’s infrastructure or other development aspects such as tourism, which attracts more TNC investments. this boost Nigeria’s economy making it able to invest more on education and healthcare.
State the social advantage of TNCs:
TNC creates many job opportunities that progress Nigeria’s primary economy to secondary, Shell had employed 65,000 Nigerians.
State the economic advantage of TNCs:
TNCs pay taxes to the country’s government which are often huge amounts, the country can then invest that money in the multiplier effect which helps the population and workers of the TNCs
State the environmental advantage of TNCs:
Many TNCs support the growth of Nigeria’s energy sector, for example Shell is investing in renewable energy.
State the social disadvantage of TNCs:
Some have been accused of human right abuses against locals, for example Shell oil has been accused of crimes against the Ogoni people for their neglect after the Niger Delta oil spill.
State the economic disadvantage of TNCs:
Oil theft and sabotage result in loss of products and accidents. Gas and oil lines are left dismantled of damaged after oil thieves which reduced production and costs billions of $.