General Overview And Structure of Nigerian Economy And Its Economic Potentials - SS1 Economics Past Questions & Answers - page 1

1

Which sector employs over half of the population in Nigeria?

A

Agriculture

B

Industry

 

 

C

Services

D

None of the above

CORRECT OPTION: a
2

Which of the following is NOT a major export of Nigeria?

A

Cocoa

B

Rubber

 

 

C

Petroleum

D

Cassava

CORRECT OPTION: c
3

Which sector is the fastest-growing in Nigeria?

A

Agriculture 

B

Industry

 

 

C

Services

 

D

Mining

CORRECT OPTION: c
4

What is Nigeria's largest economic contributor?

A

Agriculture

 

B

Industry

 

C

Services

D

Oil and gas

CORRECT OPTION: d
5

What are the three main sectors of the Nigerian economy?

In terms of structure, the Nigerian economy can be divided into three main sectors: agriculture, industry, and services. Agriculture employs over half of the population and is the largest contributor to the economy, with products such as cocoa, rubber, palm oil, and cassava being major exports. The industrial sector is relatively small but growing, with a focus on petroleum refining, cement, and food processing. The service sector, including telecommunications, banking, and retail, is the fastest-growing sector and is expected to continue to expand.

 

6

In one sentence discuss Nigeria's significant economic potential.

Nigeria has significant economic potential due to its large population, abundant natural resources, and strategic location in West Africa.

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