Nigeria

• What is Nigeria's status in Africa's economy?

  One of the fastest growing economies
• How does Nigeria's climate contribute to its agriculture?

  It allows for the highest farm output
• What is Nigeria's population approximately?

  202 million people
• What sectors are included in Nigeria's diverse economy?

  Literacy, financial services, telecommunications, media
• What was Nigeria's GDP in 2021?

  $440 billion
• What is Nigeria's GDP per capita in 2021?

  $2,085
• What is Nigeria's position in the global oil market?

  One of the biggest oil exporters
• How much oil does Nigeria pump out daily?

  About 2 million barrels
• What was the worth of Nigeria's music industry in 2021?

  $73 million
• What is Nollywood known for?

  World's second largest film industry
• What is Nigeria's rank in UN peacekeeping contributions?

  5th largest contributor
• What are Nigeria's main exports?

  Rubber, cocoa, cotton, oil
• What economic change occurred in Nigeria during the 1950s?

  Transition from LIC to NEE due to oil discovery
• What percentage of Nigeria's GDP does oil account for?

  14%
• Why is Nigerian oil referred to as "Sweet Oil"?

  Due to low sulphur content
• How many years of oil supply does Nigeria have left?

  Roughly 50 years
• What vulnerability does Nigeria face regarding its oil dependence?

  World oil prices and renewable energy rise
• How is Nigeria's economy becoming more balanced?

  Shift from primary to secondary and tertiary industries
• What percentage of Nigeria's GDP does manufacturing account for?

  10%
• Who are the biggest customers of Nigerian cotton?

  Australia and Indonesia
• What products does Nigeria manufacture besides cotton?

  Processed foods, textiles, leather goods, soaps
• How has the growth of manufacturing industries impacted Nigeria?

  Led to economic development and job creation
• What are the benefits of regular paid work in Nigeria's manufacturing sector?

  • Provides secure income
  • Increases employment
  • Boosts tax revenue for public services
  • Attracts foreign investment
  • Stimulates economic growth
• What are Transnational Corporations (TNCs)?

  Companies operating in foreign countries independently
• What role do TNCs play in the global economy?

  They represent a large percentage of global production
• How do TNCs typically expand their operations?

  By investing in developing countries for lower costs
• What is a potential drawback of TNCs operating in a country?

  They may not align with local values
• How has the movement of manufacturing affected emerging countries?

  It has led to their development
• What type of company is Shell?

  Anglo-Dutch oil company
• What has been controversial about Shell's operations in Nigeria?

  Environmental issues and local tensions
• How does Shell contribute to Nigeria's economy?

  By giving contracts and providing jobs
• How many workers does Shell directly employ in Nigeria?

  65,000 workers
• What are some environmental issues caused by Shell's operations?

  Oil spills, soil degradation, and health impacts
• What is the impact of militant groups on Nigeria's oil supply?

  They disrupt supply by destroying well heads
• What are the consequences of oil flares in Nigeria?

  Health issues and contribution to global warming
• What problems does oil theft cause in Nigeria?

  Costs TNCs and government billions
• What is the role of the Nigerian National Petroleum Corporation (NNPC)?

  To monitor the oil industry and profits
• What are the benefits and drawbacks of Shell's operations in Nigeria?

  Benefits:

  • Contracts to Nigerian companies
  • Contributions to taxes and revenue
  • Direct employment and job creation
  • Supports local energy sector

  
  

  Drawbacks:

  • Environmental pollution
  • Health issues for local communities
  • Disruption of local livelihoods
• Where do most Christians in Nigeria live?

  Mostly in the south
• How much is China investing in Nigeria for railway construction?

  US$12 billion