Economic structure

• Employment structure

  40% - agriculture

  25% - Oil

  10% - Manufacturing

  10% - wholesale/retailing

  8% - Finance

  7% - Transport
• Nigeria balanced economy

  many ppl speak english, giving potential for growth in telecommunication

  
  

  Therefore Nigeria is able to benefit from global finance and trade

  
  

  Information technology is beginning to drive the economy rather than oil

  
  

  Investment in science and technology training
• why can Nigeria have economic potential?

  1. Large domestic market
  2. Geographical position is good in west Africa
  3. Human resources (large population)
  4. Plenty natural resources such as oil
• How does Nigeria's manufacturing industry stimulate the economic development?

  Regular paid work gives a more secure income - large at home market so they can purchase products such as cars

  
  

  As industries grow more people are employed

  
  

  A thriving industrial sector attracts foreign investment which stimulates further economic growth

  
  

  Oil processing has created chemical products which has led to growth in chemical industries E.g) soaps