The changing economic world

Where is Nigeria located?

West Africa

Regional importance of Lagos

Transport hub with an airports and airport and port, Home to 10% of Nigeria’s population

National importance of Nigeria

Nigeria’s centre of trade and commerce, home to around 80% of Nigeria’s industry and generates about 30% of its GDP.

International importance

The main financial centre of West Africa, one of the highest standards of living

Wider context of Nigeria

Experienced civil wars now have free elections, multi cultural and regional conflicts, 2nd largest film industry ‘nollywood’, north(semi-deserts) and south (palm oil plantations)

Benefits of TNC

more job opportunities, regular well paid jobs, offer knowledge and training for workers

Drawbacks of TNC

economic leakage, exploitation of cheap labor

Benefits of international aids

The NGO Nets for life provides mosquito nets to protect people from malaria.

Global political and trading relationships

part of the AU and EU, india is the biggest customer of crude oil, 40% of the population is in the agricultural sector, australia is the biggest customer of cotton

Advantages of Shell

direct employed for 65k nigerians, major contribution to the taxes

Disavantages of Shell

Oil spills cause severe water pollution, oil flares send toxic fumes into the air

Environmental impacts of economic development

destroy aquatic ecosystems, respiratory problems due to toxic fumes, 600k barrens of oil leaked in 2008 Bodo oil spills, soil erosion

Effects of economic development on quality of life

Improvements to infrastructure such as roads and internet, better access to safe water and sanitation, better equipped hospitals