Nigeria: A Newly Emerging Economy

This set of flashcards covers key concepts related to Nigeria's geography, economy, demographics, and its importance on a global scale.

What is Nigeria's rank in the world in terms of economy as of 2014?

The world's 21st largest economy.

Why is Nigeria considered globally important?

Nigeria is a major oil supplier and has a diverse economy, including financial services and telecommunications.

Which city in Nigeria is noted as an economic hub?

Lagos.

What percentage of Nigeria's population is employed in agriculture?

About 70% of the population.

In what year did Nigeria become the world’s 21st largest economy?

2014.

What is a major resource that contributes to Nigeria's economy?

Oil.

How many people are estimated to live in Nigeria?

Approximately 182 million.

What is one challenge faced by Nigeria that impacts its development?

Poor roads and infrastructure.

What factors might affect Nigeria’s future success as a country?

Economic growth potential and infrastructure challenges.

What is an NEE?

A country experiencing a period of rapid economic development.