Nigeria is located on the west coast of Africa. It has an area of 923,768 km² and is Africa's most populated country (217 million).
Nigeria is a highly diverse country supporting over 250 ethnic groups, the largest groups being Hausa, Yoruba and Igbo.
With a GDP of $440 billion, Nigeria has the largest economy in Africa. The oil industry alone makes up 9% of Nigeria's GDP. Nigeria's oil supply gives it greater political and global influence.
Despite its rich economy, there is high wealth inequality with more than 112 million people living in poverty.
Secondary sector
Production of cement, textiles and food and beverage goods
Tertiary sector
Services including telecommunications, banking, trade, tourism and real estate
Over 70% of Nigerians are farmers and yet, the agriculture industry only makes up approximately 22% of Nigeria's GDP
The secondary sector creates approximately 28% of Nigeria's GDP
The tertiary sector generates about 50% of Nigeria's GDP
Transnational Corporation (TNC)
A company that has operations (e.g., factories, offices, etc.) in multiple countries
Advantages of TNCs in Nigeria
Increase employment and tax revenues
Invest in infrastructure to boost the economy
Contribute to the development of local communities
Disadvantages of TNCs in Nigeria
Cause serious environmental damage due to oil spills
Pay lower wages compared to HICs, with profits not seen in Nigeria
May move elsewhere to reduce costs, creating job insecurity
Nigeria's global political position
Changed as it developed from an LIC to an NEE
Nigeria joined the Commonwealth
In 1960 after gaining independence from the British Empire
Nigeria's Main Imports
Cars
Wheat
Refined petroleum
Medicaments
Telephones
Nigeria's Main Exports
Crude petroleum
Petroleum gas
Floating structures
Cocoa beans
International Aid
Provided by international organisations and other countries to help with wealth inequality and disasters
Short-Term Aid
Helps fund rescue operations and emergency supplies, but does not provide a long-term solution
Long-Term Aid
Aims to improve quality of life in NEEs and LICs by supporting economic and social developments over time
Top-Down Aid
Governments and large organisations provide aid money, recipient government decides how to spend it on large-scale projects
Bottom-Up Aid
Aid money or goods are donated directly to local people to help fund small-scale community projects
Short-Term Aid Example
The European Union provided £80,000 in emergency humanitarian funding to support the Nigerian Red Cross after heavy flooding in Autumn 2020
Top-Down Aid Example
The World Bank has invested $12.2 billion in Nigeria which funds projects that provide vaccines, expand the digital economy and develop students' skills
Bottom-Up Aid Example
The 'Nets for Life' project provided anti-mosquito nets to local communities to reduce the impact and spread of malaria
Increased oil extraction in Nigeria
Led to greater pollution due to oil spills and burning natural gas (gas flaring)
Economic development in Nigeria
Led to the destruction of natural habitats, with Nigeria having the highest rate of deforestation in the world between 2000-2005
Economic growth in Nigeria
Created more long-term jobs with higher wages, and increased education provisions leading to higher adult literacy rates
Improvements in sanitation, infrastructure, education and healthcare in Nigeria
Can be attributed to the country's economic growth, leading to increased life expectancy
Unilever
An Anglo-Dutch Transnational Corporation (TNC) manufacturing items such as soap, foods and personal care items
Unilever in Nigeria
Employs about 1500 people in Nigeria
Has promoted improvements in health care, education and water supply
Shell Oil in the Niger Delta
One of the world's largest oil companies
Has extracted oil from the NigerDelta since 1958, with some controversy
Advantages of Shell's operations in Nigeria
Has made major contributions in taxes
Has provided direct employment for 65000 Nigerian workers
Has provided 250000 jobs in related industries
91% of all Shell contracts have been placed with Nigerian companies
Disadvantages of Shell's operations in Nigeria
Oil spills have caused water pollution and soil degradation, damaging agriculture and fishing industries
Frequent oil flares send toxic fumes into the air
Oil theft and sabotage cost TNCs and the government billions of dollars every year