PPD

• Nigeria and Oil

  • 91% of Nigeria's exports are petroleum oil and natural gas
  • Oil is 5.5% of Nigeria's GDP
  • Industry accounts for 19,820 jobs
• Protectionism and China

  • Retaliation e.g. tariffs on LNG and crude oil at 10% and 15%, respectively
  • 14.8% ($502 billion) of China's exports are bought by the US
  • High domestic uncertainty
  • Outflow of investment as firms move overseas