Question on: JAMB Economics - 2023
------------- is NOT the cause of balance of payments (BOP) deficits in Nigeria
A
Poor performance of non-oil sector
B
Export promotion
C
No import substitution strategies
D
High servicing of debt
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Correct Option: B
Export promotion is NOT the cause of balance of payments (BOP) deficits in Nigeria. The poor performance of the non-oil sector, lack of import substitution strategies, and high servicing of debt are factors that can contribute to BOP deficits.
Export promotion, on the other hand, is aimed at increasing a country's exports, which would typically have a positive impact on the balance of payments by bringing in more foreign exchange.
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