Nigeria changing economic world (HUMAN)

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Nigeria

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18 Terms

1

Nigeria

Central-western African country, with a south-facing coastline and tropical climate, bordering Cameroon, Benin, Chand and Niger.

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2

Is Nigeria an LIC, NEE or HIC?

NEE

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3

Newly Emerging Economy

Experiencing a period of rapid economic growth. Nigeria has the 21st largest economy in the world.

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4

Nigeria's global and regional importance

Provides 2.7% of the world's oil, is the 5th largest contributor to UN peace-keeping forces, has the highest GDP in Africa, and is an example to the rest of Africa regarding development.

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5

Politics

Became independent from the UK in 1960, had difficulties and civil wars until 1999, since then it has been stable.

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6

Culture and social

An ethnically diverse multifaith country. Some social disharmony has arisen more recently in contrasting part of the country, which has negatively impacted foreign investment confidence.

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7

Environment

Contrasting tropical climates from hot and wet in the south - leading to tropical rainforests, through savannah and eventually semi-desert in the far north as rainfall reduces.

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8

Wider world links

Member of: AU (African Union), CEN-SAD (Community of Sahel-Saharan States, OPEC (Organisation of Petroleum Exporting Countries), the UN, and is the Head of ECOWAS (Economic Community Of West African States).

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9

Economic Structure change

Fall in importance of primary sector, Fluctuating secondary sector, and dominant (over 50% of GDP) tertiary sector

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10

Manufacturing (secondary) sector

Regular paid work raises locals' spending and creates more tax revenue, allows reinvestment in infrastructure which attracts foreign investment and growth.

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11

TNCs

Transnational Corporations - large global companies - 40 operate in Nigeria; Unilever and Shell are two major ones.

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12

TNC advantages

Employment opportunities, investment in infrastructure, valuable export income earned, increased local spending.

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13

TNC disadvantages

Sometimes poorly paid, much profit goes abroad, limited number employed, grants could have been invested in Nigeria businesses.

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14

Types of Aid

Assisting with emergency (short term) and developmental (long term) support.

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15

Aid in Nigeria

Received 4% of all aid entering Africa. Mainly spent of health, and then infrastructure. Some corruption issues have reduced the effectiveness of aid reaching intended destination.

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16

Environmental Impact of economic growth

Industrial growth means widespread air and water pollution in cities, deforestation and desertification. Urban growth means huge slums - home to millions in polluted cities. Mining and oil extraction means huge scale environmental damage.

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17

Quality of life

steady rise in quality of life as shown by the HDI improving constantly since 2000.

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18

Inequality in Nigeria

Despite economic growth, the inequalities are very contrasting with tens of millions still in poverty. Corruption, social disharmony and a suffering environment are causes.

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