17. Nigeria Flashcards
1
Q
`What is Nigeria’s general climate?
A
- tropical climate with variable rainy and dry seasons
- hot and wet close to coast/south, more dry inland
2
Q
How much oil does Nigeria supply for the world?
A
2.5 %
3
Q
What is Nigeria’s importance in Africa?
A
- largest economy/highest GDP in Africa
- has highest agriculutural output
- largest populated african country
- 3rd largest manafacturing sector
4
Q
What are some countries/companies investing in Nigeria?
A
- South Africa invested in banking and buildings
- China investing in construction in the capital, Abuja
- American firms GE (power plants), Oracle, IBM and Microsoft
5
Q
What are some divides in Nigeria?
A
- due to economic inequality between more prosperous South and North, there are new religious and ethnic tensions
- such as Boko Haram rise
- has negative effect on productivity, investment and unemployment
6
Q
What are the reasons between the divide in the North and South?
A
- GDP is higher in the south as it has things like the Niger Delta, oil reserves and more rain
- North has drought, lack of resources and rise in Boko Haram
7
Q
What are 5 political links Nigeria has?
A
- ECOWAS - trading group for west african countries
- UN - contributes large numbers of troops
- OPEC - oil exporting countries, stabilises prices
- CEN-SAD - similar to ECOWAS
- African Union - economic planning and peacekeeping group
- it is a leader in Africa
8
Q
What are Nigeria’s main imports?
A
- phones from China (for emerging middle class)
- cars from Brazil and USA
- rice and wheat
- mainly from China, EU and USA
9
Q
What are Nigeria’s main exports?
A
- crude oil, refined petroleum, natural gas, rubber, cocoa and cotton
- to EU, USA and India
10
Q
What is Nigeria’s LARGEST export?
A
- Nigeria’s largest export is crude oil
- it is better quality than oil from the middle east
- used to be mainly to USA, but shale oil was found, now mainly to India
11
Q
How big are agriculutural exports in Nigeria?
A
- crude oil reduced importance of agriculutural exports
- employs 37% of population
- customers are Austrailia and Indonesia
- only Ghana and Ivory Coast in Africa
12
Q
How much does oil account for in %GDP and %exports in Nigera?
A
- 10% GDP
- 86% Export earnings
13
Q
What is the general change in Nigeria’s economy in terms of sectors?
A
- employment in agriculuture has declined as machinery is being used more commonly and there is more competition (22% of GDP)
- industrial sector has grown to 18% GDP but has limited effect on umemployment as many jobs are mechanised
- service sector has rapidly grown to be 57% of GDP and 60% of employment (especially finances and retail)
14
Q
How much is manafacturing of Nigeria’s GDP?
A
10%
15
Q
How has manafacturing affected economic development?
A
- lead to more demand for home market(cars, houses) due to people have stable income
- more stable income + more people employed means more tax revenue for the government
- Manafcturing stimulates industries that produce close products (e.g robots for the factories)
- industrial sector growing attracts FDI
- oil processing has lead to many chemical-by products