nigeria NEE

Global importance

In 2014 became the 21st best economy in the world

12 largest producer of oil

Largest gdp in africa

Investment in nigeria

China made major investments

South africa in business and banking

American companys in power plants

Why is oil so important

Creates jobs

Attracts TNCs inverstment

Has the 10th highest level of oil reserves

Industrial stucture

Primary seconday and tertiary are all around 30% now

Shell oil in the niger delta

Pros: make major contributions in tax and exports, provide employment for 65000 people, give 91% of contracts to Nigerian companys

Cons: oil spills cause water pollution, oil flares send toxic fumes into air, militant groups disrupt oil supply in the delta

Aid in Nigeria

Receive $5 billion in aid

Due to uneven development, inequality, mostly for rural

Helps with HIV, education and malaria

Corruption and donors may have political influence

Bodo oil spills

Affected 69,000 people in Bodo

Fishers lost income

Shell payed £55million in compensation

Each person got an average of £4500

Has quality of life improved

Reliable, better payed jobs in manufacturing

Improvements to infrastructure

Better access to safe water and sanitation

Better health care

Have all nigerians benefited from economic development

Not everyone, like people in Bodo or in the slums

The houses in the slums are being demolished

50% of people in urban areas live in a slum