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Nigeria's largest economic sector is oil production. The country relies heavily on fossil fuel production, so much so that it is often considered a classic example of the "resource curse". 25% of the economy is devoted to agriculture, and Nigeria is the largest producer of agricultural goods in Africa. Nigeria is also the fourth-largest manufacturer in Africa, mostly working in light industry. There is a growing banking sector, although restrictive central bank policy means that a significant fraction of banking activity takes place in the shadow economy.

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Alyce Corkery

Lvl 13
3y ago

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