- Created by: 15j.price
- Created on: 28-02-19 21:25
- THE CHANGING POLITICAL AND TRADING RELATIONSHIPS WITH THE WIDER WORLD
- How are Nigeria’s
trade relationships changing?
- Will still import manufactured goods such as machinery, chemicals and transport equipment
- Trade with larger economies
- Oil is the main trading good
- Trade with UK, USA, China, India and other countries in the European Union
- What influence does China now have on Nigeria’s economy?
- In 2014, the China Railway Construction Corporation got a US$12 billion contract to build a new 1400 km railway along the coast of Nigeria
- Nigeria needs investment in infrastructure and China can provide it.
- China’s fast growing economy means that they need more resources and Nigeria can provide these resources
- There is growing Chinese investment in Nigeria and other African countries
- Nigeria's relationship with Britain
- The trade was that Nigeria would provide natural goods to Britain and in exchange they would provide manufactured goods
- From 1650 to 1807 Britain traded enslaved African people to places such as America and the Caribbean
- Nigeria was ruled by Britain until 1960 when they gained independence
- In 1807 slavery was made illegal so trade with West Africa changed to palm oil which was used to make soap in Britain
- In the late 19th century a lot of Africa became part of the British Empire
- How are Nigeria’s trade relationships changing?
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