nigeria

• Abuja is the capital city
• In 2020 it was ranked at 27th globally according to its GDP
• Fastest growing economy in Africa
• Supplies 2.2% of the world’s oil. It is the 15th largest producer
• Largest population of all African nations with 206 million.
• major contributor to UN peacekeeping missions around the world. 
• Since independence in 1960, Nigeria has suffered a civil war (1967-70) and several military dictatorships
• One of the most shocking incidents was the kidnapping of 276 school girls in 2014 by Boko Haram
•  Boko Haram, an extremist organisation wants to abolish democracy and set up its own government
• However, there is evidence of some political success. The Ebola outbreak in 2014 affected 5 West African nations. Nigeria had only 11 deaths compared to 11,000 in Senegal, Guinea, Sierra Leone and Liberia, showing a coordinated effort from the government in identifying, screening in isolating victims.
• There are more than 500 ethnic groups,
• It has a tropical climate
• Nigeria’s rapid growth has come from the discovery of oil in the Niger Delta in 1950s
•  It has the world’s 10th highest oil reserves and has over 200 year’s supply left.
•  Its film industry, known as Nollywood, is now the 3rd largest in the world
• Why is Nigeria developing and changing so rapidly?

  • Many people speak English, which helps global communications. 
  • Rapid advances in telecommunications, so Nigeria can benefit from global trade
  • Investment in training Nigeria’s huge young population as they are seen as a future asset. 
  • Nigeria has a growing home market (people within the country that can afford to buy products), relatively cheap labour and improving infrastructure. 
  • The rapid growth of manufacturing has led to regular paid work – people have a secure income and are paying taxes – leads to a positive multiplier effect.
• TNCs do this to 

  • Expand their market – sell to more people.
  • Take advantages of tax incentives to locate somewhere
  • Avoid strong environmental laws - these are lax (lacking or not enforced) in some countries
  • Take advantage of cheap labour
• There are about 40 TNCs in Nigeria.
• Advantages of TNCs for Nigeria

  Provide employment and development of new skills

  More money is spent in the economy

  Other local companies benefit as they can supply materials

  Investment by the TNCs in local infrastructure (the TNC needs there to be good roads, good internet, reliable electricity and this helps locals too)
• Disadvantages of TNCs for Nigeria

  Local workers are sometimes poorly paid.

  Working conditions are sometimes poor.

  Management jobs often go to foreign employees brought in by the TNC

  Much of the profit goes back to the home country of the TNC

  Powerful TNCs dominate Nigeria and stop similar local businesses from growing.