Nigerian Economy
What did Nigerians do to help overcome poverty and create more income?
Entrepreneurship
Nigeria is hopeful about their future, true or false?
True
What do political leaders use as patronage for electoral purposes
Oil
The practice of a country extending their power over other nations through military or economic force
Over 500 indigenous languages.
What allowed Nigeria to weather the immediate effects of the 2007 recession?
High oil prices.
In what ways does Nigeria remain deeply divided?
along ethnic, regional, and religious lines.
In its first year oil made up how much percent of the country´s revenue?
8%
why did the British colonize Nigeria?
Because they found Nigeria to be rich in resources
What is Nigeria's largest city?
Lagos.
In which year did oil prices and Nigeria's economy drop to the lowest it had been in years?
2014.
It is projected that population growth of Nigeria will grow how much from 2021 to 2050
from 219 million people in 2021 to 392 million in 2050
How much did oil made up how much percent of the country´s revenue in ´71?
80%
In what year was and who declared Nigeria independent?
Princess Alexandra in 1963
What is something that is considered aggressive in Nigeria that's considered respectful in other countries?
Eye contact.
How has Nigeria used economic liberalization?
They enacted economic liberalization policies to help the economy bounce back faster.
Does Nigeria remain dependent on oil or are they becoming dependent on entrepreneurship?
Oil!!!!🪔
Dependency on oil caused Nigeria to be what?
One of the most corrupt states.
what was a Negative effect did Imperialism have?
Can say any one of these:
Exploited Nigerians for free Labour that profited Britain
Changed farms into mass plantations
Had major negative effects on the economies of Nigeria
What do the colored stripes on the Nigerian flag represent?
The two green stripes represent Nigeria's natural wealth and the white stripe represents peace.
Name 3 reasons why Nigeria's economy is struggling
COVID-19, prices of oil dropping, lack of basic financing, limits to infrastructure, and a complex regulatory environment.
30 years into the demographic transition, Nigeria's democracy faces several enduring problems like what?
poverty and corruption on local and national levels, environmental damage and internal divisions.
The economy was devastated by the drop in oil prices that began in 2014, what did this do?
global oil falling 50 percent
In what three ways did Britain Impact Nigeria?
Introduced Western Education, made the native language English, and introduced Christianity
Nigeria has the largest diversity of what?
Hint: Its an insect.
Butterfly. Nigeria has over 1000 documented species of butterfly.