socio-economic development

• Rapidly increasing population - expected to have the 4th largest population by 2050
• GDP of $500 billion / year largely due to oil
• Has been a 30% increase in secondary employment mostly in manufacturing and oil mining and a 30% decrease in primary employment (agriculture)
• Growth of secondary industry = positive multiplier effect
• More people earn a higher income in secondary employment ---> better quality of life
• Improvements in healthcare and education ---> better quality of life
• Trading relationships have changed as Nigeria has become independent from the UK - only $1 billion of trade with UK compared to $15 with India & USA.