Nigeria case study - Industrial sector and economy

  • Created by: 15j.price
  • Created on: 28-02-19 20:12
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  • INDUSTRIAL SECTOR AND ECONOMY
    • how is Nigeria's economy changing?
      • Before 2011 many of Nigeria’s new industries had not been included yet in figures
      • In 2011 GDP more than doubled
      • Due to the new and more accurate way of measuring the economy, the contribution of manufacturing and service industries increased
      •  It is among one of the fastest growing economies in the world
      • GDP has grown, however most of Nigeria’s population is still poor, living on less than US$1.25 a day
      • Nigeria has the largest growing economy in Africa
      • There is a minority of well-paid jobs which is mainly located in Lagos
      • The regional inequalities are that the wealthiest area is in the south (around Lagos) and the greatest poverty is in the north and south-east
    • how is Nigeria's industrial structure changing?
      • This is an effect of urbanisation and a rural population to an urban population
      • 59% of Nigeria’s GDP comes from manufacturing and services industries 
      • Some of the fastest growing industries include: 
        • Retail and wholesale
          • many small businesses that used to be in the informal sector are now in the formal sector. This means that new are now included in the calculation of GDP
        • telecommunications
          • In 1990 there were less than 1 million landline users in Nigeria. However now there are over 115 million mobile phone users
        • Film industry
          •  after Hollywood (USA) and Bollywood (India), Nollywood is the third largest film industry in the world
      • Nigeria is changing from a mainly agricultural economy to an industrial economy

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