Attached.

Nigeria Economy–Outline
Thesis: It is important that there is analysis of the needs of the emerging markets as it guides the
development of the markets and enabling of the criteria that helps in improvement of the rates of
satisfaction of the company.
I.

Description and History of Nigeria Economy
A. Economic activities
B. Industrialization
C. Revenues

II.

Form of Government
A. Parliamentary system
B. House of representatives

III.

Economic Model
A. Industrialization
B. International Trade
C. Trade Relationship with the United States
D. Exchange Rates


Running head: NIGERIA ECONOMY

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Nigeria Economy
Name
Institution

NIGERIA ECONOMY

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Contents
Executive Summary ........................................................................................................................ 3
Description and History of Nigeria Economy ................................................................................ 4
Form of Government....................................................................................................................... 7
Economic Model ............................................................................................................................. 9
Industrialization .............................................................................................................................. 9
International Trade ........................................................................................................................ 11
Trade Relationship with the United States.................................................................................... 13
Exchange Rates ............................................................................................................................. 14
Conclusion .................................................................................................................................... 16

NIGERIA ECONOMY

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Executive Summary

The economic growth of the developing countries is important as it guides the measures
of productivity that the countries embrace to accelerate their growth. The Nigerian economy has
gone different challenges, and the strategies that help in reviving the economy are important in
helping to increase the economic activities. The need to analyze the population and the per capita
income is important in helping to accelerate the growth and ensure that there is the management
of the decisions that improve the productivity of the different industries and the distinction of the
systems that increase the Nigerian economic growth. The paper examines the economy of the
developing country and the various changes that it has undergone to increase the sustenance of
the different economic activities.

NIGERIA ECONOMY

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Nigeria Economy

The classification of the developing countries is done according to the development of
the economy, and the criterion is focused on different types of factors such as the levels of
literacy, per capita income, and the life expectancy levels. The measurement of the development
of the countries is important in helping to focus on the economic factors that guide the
distinctions in the economy and the focus on the analytical processes that help in making the
decisions. The Gross Domestic Product of the country is important in helping to classify the
countries as developing or developed, and this helps in focusing on the different measures that
encourage the integration of the systems of the country and the reports on the classification. It is
important that there is an analysis of the needs of the emerging markets as it guides the
development of the markets and enabling of the criteria that help in improvement of the rates of
satisfaction of the company.
Description and History of Nigeria Economy
Nigeria is one of the developing economies in Africa and the country main economic
activity since 1960 is based on the petroleum industry. The improvement in the oil process of the
country starting from 1973 led to the growth of the economy, and this helped in the expansion of
other sectors such as construction, transportation, services offered by the government and
manufacturing. The expansion of the economy led to the development of the urban areas, and
this created the increase of the population in the urban areas. The shift from the rural areas to the
urban areas contributed to the decrease in the agricultural activities such as farming of the cash
crops that include peanuts and palm oil. In 1975 the country started to import commodities such
as cassava and rice that were to be consumed domestically. The operation of the economy was
well on the revenues from the petroleum continued to be constant. The focus on the fluctuations

NIGERIA ECONOMY

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of the agricultural industry means that the growth of the economy was stagnant as the reliance on
the petroleum industry could not sustain the growth of the urban areas not in the long run (Awe
& Rufus, 2012). The country has a population of 186 million, and its location improves the need
to embrace the agricultural activities. The crisis in the fluctuation of the oil prices in the world
meant that the population would suffer from the looming shortages of food and this led to the
need to cut down on the costs of the imports as the country was suffering from the increased
costs.

Figure 1: Nigeria Population (Trade Economics, 2017).
The diagra...