oil (no prefixes or suffixes) the price of oil depends on worldwide supply and demand. africa...
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• Oil
• Oil
• (no prefixes or suffixes)
The price of oil depends on worldwide supply and demand.
• Africa produces approximately 30 percent of the worlds newly discovered
oil deposits. Nigeria is one of the fastest growing countries in Africa and oil is
funding this growth
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• Human Capital
• Hu-man Cap-i-tal
• Humain (human being)Capitalis (of the head)
Countries must invest in human capital for their economy to improve.
• health, education, experience, training, skills and values of
people.
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• Entrepreneur
• en·tre·pre·neur
• Entrepren (to undertake)
An advantage to being an entrepreneur is that you can be your own boss.
• People who use their money and talents to start a new business
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Nigeria
Federal Republic of Nigeria
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Flag
• Green represents the forests and abundant natural wealth of the country
• White stands for peace and unity
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Map
Capital is Abuja
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History
• Nigeria maintained independence until the late 1800s when Britain stepped in and began colonizing the area
• In 1923, a movement began in Nigeria to set up the country as a self-governing member of the British Commonwealth.
• However, another nationalist group wanted complete freedom from British rule.
• Both military and peaceful factions struggled for Nigerian independence
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• The federal elections in 1959 gave the nationalist groups enough votes to form a government.
• In 1960, an independent government was established in Nigeria. At first, it was one of the more stable governments of the new African countries
• But at the end of the 1960s, a civil war broke out• Because of clashes between ethnic groups,
Nigeria suffered from violence and military rule until 1999, when a democratic government was established
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Government
• Republic
• Distribution of Power – Federal
• Civic Participation – Presidential Democracy
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Three BranchesExecutive• Chief of state: President Goodluck Jonathan • Cabinet: Federal Executive Council
Legislative• Bicameral National Assembly consists of the Senate and
House of Representatives
Judicial • Supreme Court (judges appointed by the president)• Federal Court of Appeals
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Religious & Ethnic Groups
• Muslim 50%• Christian 40%• Indigenous beliefs 10%
• More than 250 ethnic groups
• Most populous and politically influential:
• Hausa and Fulani 29%• Yoruba 21%• Igbo (Ibo) 18%
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Language
• English (official)• Hausa• Yoruba• Igbo (Ibo)• Fulani• over 500 additional indigenous languages
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Economy
• Nigeria is the sixth largest producer of oil in the world as well as a major supplier to America
• Much of the Nigerian population is desperately poor because the money bypasses the people and goes straight to corrupt politicians
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• While Nigeria has a healthy GDP, about 70% of the people live below poverty level
• The income from oil belongs to a small group of wealthy people
• Nigeria has a mixed economy and has been moving towards a more market economy since 2006 when the government began to allow private ownership of major petroleum interests
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Major Industry
• Crude oil• Coal• Tin• Rubber products• Wood• Hides and skins• Textiles• Cement and other
construction materials
• Food products• Footwear• Chemicals• Fertilizer• Printing• Ceramics• Steel
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Natural Resources• Natural gas• Petroleum• Tin• Iron ore• Coal• Limestone• Niobium• Lead• Zinc• Arable land
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Geography & Climate
• The Niger River enters the country in the northwest and flows southward through tropical rain forests and swamps to its delta in the Gulf of Guinea
Climate Varies – • equatorial in south, tropical in center, arid in
north
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Environmental Issues
• Soil degradation• Rapid deforestation• Urban air and water pollution• Desertification• Oil pollution - water, air, and soil• Has suffered serious damage from oil spills• Loss of arable land• Rapid urbanization
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• Literacy Rate– Total 68%– Male 75.7%– Female 50.5%
• Life Expectancy– Total 47.2– Male 46.5– Female 48.0
• GDP– $2,400 per capita
• Population• 152,217,341
• Below Poverty Level– 70%