Nigeria

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

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

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

  202 million people
• What sectors contribute to 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
• How much oil does Nigeria produce daily?

  2 million barrels
• What is Nigeria's rank in global oil exports?

  One of the biggest oil exporters
• 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 contribution to UN peacekeeping?

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

  Rubber, cocoa, cotton, oil
• What economic changes occurred in Nigeria due to oil discovery in the 1950s?

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

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

  Low amount of sulphur
• What is the current production rate of oil in Nigeria?

  2 million barrels each day
• What vulnerability does Nigeria face due to its dependence on oil?

  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 types of products does Nigeria manufacture?

  Processed foods, textiles, leather goods
• What are the benefits of Nigeria's manufacturing growth?

  • Secure income from regular paid work
  • Increased employment opportunities
  • Higher tax revenue for public services
  • Attracts foreign investment
  • Stimulates further 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 expand their operations?

  By investing in developing countries for lower costs
• What is a potential issue with TNCs operating in foreign countries?

  They may not align with local values
• What has been the impact of TNCs on emerging countries?

  • Development of countries like China, India, Nigeria
  • Increased foreign investment
  • Economic growth through manufacturing relocation
• What is Shell's headquarters location?

  Netherlands
• What has been controversial about Shell's operations in Nigeria?

  Environmental impacts and local tensions
• How much of Shell's contracts are given to Nigerian companies?

  91%
• How many direct jobs does Shell provide in Nigeria?

  65,000 workers
• What are some negative environmental impacts of Shell's operations?

  Oil spills, soil degradation, health issues
• What are the effects of oil spills in Nigeria?

  Polluted waters and harmed biodiversity
• What has caused tensions in the Niger Delta region?

  Militant groups disrupting oil supply
• What are the health impacts of oil flares in Nigeria?

  Contributes to respiratory issues and global warming
• What is the role of the Nigerian National Petroleum Corporation (NNPC)?

  Monitor the oil industry with TNCs
• How has Nigeria's global political position changed?

  From LIC to NEE status
• What trading groups does Nigeria belong to?

  ECOWAS and OPEC
• What is the religious demographic in Nigeria?

  54% Muslims, 45% Christians, 1% traditional religions
• How did British colonialism affect Nigeria's development?

  Held back development until independence in 1960