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Libya's centrally planned economy depends primarily upon revenues from the Petroleum sector, which contributes practically all export earnings and over half of GDP.
As for the rest, I'm assuming falls under the category of 'Natural oil' and ETC
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∙ 12y ago
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What is the inventory state and covertibility of Nigeria natural resources?
Nigeria has abundant natural resources, including oil, natural gas, coal, and minerals. However, the inventory state of these resources may vary due to factors such as exploitation, management, and environmental concerns. The convertibility of Nigeria's natural resources refers to their potential to be economically beneficial and may involve factors like market demand, technological advancements, and government policies.
What is the connection between the youth unemployment and the Nigerian economy?
High youth unemployment in Nigeria can strain the economy by reducing overall productivity and consumption levels. It can also lead to social instability and increase the dependency on social welfare programs, which can further burden the economy. Additionally, a large pool of unemployed youth can result in lost opportunities for economic growth and innovation.
How does Nigeria use its natural resources?
Nigeria uses its natural resources, such as oil and gas, as a significant source of revenue through exports. The country also utilizes minerals like coal and tin for industrial purposes and agriculture for food production. However, there are challenges with mismanagement and corruption that hinder effective utilization of these resources for sustainable development.
What are the similarities between Canada and Nigeria?
Both Canada and Nigeria are countries with diverse cultures and languages. They are also former British colonies and have parliamentary systems of government. Additionally, both countries are known for their natural resources, with Canada being rich in minerals and oil while Nigeria is a major oil producer.
What is Nigeria's birth rate?
As of 2021, Nigeria's birth rate is estimated to be around 37 births per 1,000 people. This high birth rate contributes to the country's significant population growth and demographic dynamics.
What natural resource contributes significant to the economy of Nigeria Libya and Algeria?
Oil.
What natural resource is abundance in Nigeria?
Human resource is the first
What is Nigeria's biggest natural resource?
OIL
What are the importance of marketing in Nigeria economy?
Marketing contributes to Nigeria's standard of living
What does nigeria produce with its natural resource?
copper diamonds oil
Which natural resource did nigeria focus much of their attention on?
petroleum
What natural resource contribute significantly to the economy of Nigeria Libya and Algeria?
Libya's centrally planned economy depends primarily upon revenues from the Petroleum sector, which contributes practically all export earnings and over half of GDP. As for the rest, I'm assuming falls under the category of 'Natural oil' and ETC
What is Nigeria's major natural resource and largest export?
Nigeria's major natural resources is located in south west.
How has natural resource extraction impacted the environment of Nigeria?
Burning of wood & production of charcoal.
Why is Nigeria one of the richest countries in Africa?
Nigeria is one of the richest country in africa, because god bless us with natural resource.
Does Nigeria have a market economy?
is nigeria a market economy, or a custom based economy, or directed.
Is there human resource called Ralph.O.A in Nigeria?
Is there humnan resource manager called ralph.o.a in nigeria?
