Problems of Economic Development In Nigeria - SS3 Economics Past Questions & Answers - page 1

1

What is the primary cause of economic instability in Nigeria?

A

Overdependence on oil

B

High poverty rates

C

Political instability

 

D

Limited access to credit

CORRECT OPTION: a
2

Which of the following is a result of Nigeria's poor infrastructure?

A

 Increased economic growth

B

Reduced transportation costs

 

C

Limited movement of goods and people

D

Access to basic services

CORRECT OPTION: c
3

What is a major challenge facing Nigeria's education system?

A

A lack of skilled workers

B

High tuition fees

C

Limited access to education

 

D

Overcrowded classrooms

CORRECT OPTION: a
4

What is the consequence of political instability in Nigeria?

A

Increased investment

B

Reduced corruption

 

C

Economic growth

D

Discouraged investment

CORRECT OPTION: d
5

What is a contributing factor to high poverty rates in Nigeria?

A

Low unemployment rates

 

B

Income equality

C

Access to basic services

D

Lack of economic diversification

CORRECT OPTION: d
6

Explain one consequence of limited access to credit in Nigeria.

 

Limited access to credit in Nigeria can limit investment and business growth, particularly for small and medium-sized enterprises. This can hinder economic development and limit opportunities for job creation and poverty reduction.

7

Describe one challenge in diversifying Nigeria's economy away from oil dependence.

 

One challenge in diversifying Nigeria's economy away from oil dependence is developing new industries that can compete with the existing oil industry. This requires significant investment in infrastructure, education and training, and policy reforms to promote non-oil sectors such as agriculture and manufacturing.

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