The petroleum industry in Nigeria is
The sole source of the nation's revenue
The oldest industry in the country
The mainstay of the economy
A factor in the decline in the nation's foreign reserves
Correct answer is C
The petroleum industry in Nigeria is the largest on the African continent. As of 2014, Nigeria's petroleum industry contributes about 14% to its economy. It is one of the pillars of the nation's economy.
Export-promotion policy is primary concerned with the
Processing of raw materials to increase their value
Making of international routes safe for export commodity
Reduction in the number of imported items
Encourage of the production of export commodities
Correct answer is D
No explanation has been provided for this answer.
In many developing countries, infrastructural problems is acute due to the shortage of
Industries and industrial equipment
Savings, investment and consumption
Natural resources for development
Supporting services that encourage economic activities
Correct answer is D
No explanation has been provided for this answer.
A factor that influences the location of a firm near its market is the
Transportation of bulky raw materials
External economies
High cost of transporting finished goods
Availability of skilled manpower
Correct answer is C
No explanation has been provided for this answer.
An entirely domestic effort directed at improving agricultural production in Nigeria is the
Agricultural Development Programme
Agro-industrial Development Scheme
Food and Agricultural Organization
National Land Development Authority
Correct answer is A
No explanation has been provided for this answer.