Nigeria - changing the economic world Flashcards
(27 cards)
where is nigeria
in west Africa jsut north of the equator
whats the population of Nigeria
184 million people = most populated in Africa
whats the ecomonic global imptnace of Nigeria?
wourlds 21st largest economy
what has been the driving point of Nigerias growth
oil production
what it is the global importnace of Nigeria (oil)?
12th largest procucer of oil
supplys 2.7% of oil
how does havign a youthful, educated population benefit Nigeria
- boost the workforce in secondary and tertiarry jobs = better income = higher GNI
whats is the impotance of Nigeria in Africa?
- highest GDP in 2014
explain the GDP growht in Nigeria
- had the worlds higherst average GDP growth from 2010-2015
how does Nigerias repaid growth effect the rest of Africa
- mutiplier effect = entrepreneurship
what % of the popualtion are in primary sector jobs
70%
summarise teh political background of Nigeria
- during the 19th-20th century = part of the British empire [ppl were expoited]
- 1960 gained independence
- 1967-1990 = had lots of dictators
- 1967-1970 = civil war [corruption]
- now stable goverment
summariese the cultrural aspect of Nigeria
- rich cultural mix
- Nigerias music ‘Afrobeat’ enjoyed
- “Nollywood” 2nd largest film industry in the world
- football team = won African cup of nations 3x
summarise the enviromental aspects of Nigeria:
- North = semi-desert - low pressure
- as you move furhter south = tropical grass lands dominate [cattle,crops] high temps &rainfall
- Jos plateua = central = densely populated farmland
- south = prevelance of TSETSE FLY which is lethal to live stock
summaridse the social aspect of Nigeria
- multifaith/ethnic country
- 3 main groups = Yoruba,Huasa, Fulani
= social diversity but previously has lead to conflict
-1967 Igbo-dominated the south east & tried to seperate it from the rest of Niveria = 3year civil war - recent rise of Boko Haram = instabilty in the country & less investment from abroad
how is Nigerias economy changing?
- since the 1990s = more secondary jobs, and tertiary = increased through the growth of communications, retail and finance
= more balanced economy as it is less reliant on a single industry - oil today 95% of Nigerias total exports
how is the manufacturing industry important to Nigeria?
- manafacturing accounts for 10% of Nigeria’s GDP
- growth secondary sector has encouraged economic development = people have more secure income [ larger factories have become reliant on smaller buisnesses = mutiplier effect - mutiple buisnesses benefit]
give an example of TNC in Nigeria
shell
where is its country of origin/headquaters?
year it started in Nigeria?
- Netherlands
- 1937
benefits of shell in Nigeria
- 65 000 employes from Nigeria
- further support 250 000 jobs in related industries
- they give 91% of contracts to Nigerian companies
- mutiplier effect, inc GNI
- provides infastructure
[transport links]
negatives of the TNC shell
- oil theft & sabotage costs goverment billions of dollas every year
- oil spills can occur = damage enviroment kill crops and animals
[occured 2008 & 2009 devasted livelihoods of thoasands of farming]
advantages of TNCS
- provides infsatrucure
- mutiplier effect
- jop employment
disadvantages of TNC
- local workers exploited
- descions made by host country = profits go there
how have Nigerias political links changed?
- until 1960 used to be part of the British Empire
- now joined the British commenwealth
- now leading member in African politc groups e.g African Union, United Nations
how have trade links changed?
- Nigeria exports good to countries like crude oil, rubber to countries like USA
- India overtook USA and is Ns largerst customer of crude oil
- imports of cars, rice from places like China
- Ghana & Ivory coast = only 2 African countries w significant trade
