4.4.5

Factors influencing Nigeria's Growth

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Factors influencing Nigeria's Growth

The nature of trade between Nigeria and the world has changed since its previous status as a British colony.

Economic shift

Economic shift

  • Nigeria has the biggest agricultural output of any African country.
    • Mechanisation has meant that fewer people are needed to work the land.
  • Nigeria has seen a move towards manufacturing and services (secondary and tertiary jobs), particularly in IT.
  • Manufacturing has grown in Nigeria as there is a large and cheap workforce. As the economy grows there is an increased demand for goods.
  • Increased political stability in Nigeria also means that more countries are willing to become trading partners.
The role of TNCs

The role of TNCs

  • Transnational corporations (TNCs) are companies operating across many different countries.
    • They are also known as multinational companies (MNCs).
  • They usually have their headquarters in high-income countries and their production in low-income or newly-industrialising countries.
TNCs cont.

TNCs cont.

  • Some of the world’s largest TNCs are oil companies; such as Shell, Mobil and Total.
  • These oil TNCs have operated in Nigeria since the 1970s.
  • These large TNCs have constructed oil and gas drilling platforms around the Niger Delta in the south of the country.
  • Nigeria has the largest port in Africa which enables it to export oil easily using huge oil tankers.
Large construction projects

Large construction projects

  • Nigeria has a series of huge construction projects planned to boost the economy further.
  • These projects include various transport infrastructure schemes and hydroelectric dams.
  • The Calabar Railway aims to improve the movement of goods and services across Nigeria. It is expected to cost $11 billion.
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Life in an Emerging Country

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Analysis of Africa

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Analysis of India

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Analysis of Bangladesh

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Analysis of Russia

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