Nigeria's Oil Industry and Economy

Nigeria's Oil Industry and Economy

Assessment

Interactive Video

Business, Social Studies, Geography

9th - 12th Grade

Hard

Created by

Patricia Brown

FREE Resource

Nigeria, Africa's top oil producer, faces economic struggles despite its oil wealth. The government heavily relies on oil revenue, leading to issues when global prices drop. Corruption and lack of transparency in the oil sector result in missing funds and tax evasion. Illegal activities, such as oil theft, further exacerbate the situation. The government is implementing reforms, including the Petroleum Industries Bill, to address these challenges and diversify the economy. Efforts like Aliko Dangote's new refinery aim to reduce foreign dependency and improve the distribution of oil wealth.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main source of revenue for the Nigerian government?

Technology

Tourism

Agriculture

Oil

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which industry is NOT mentioned as a part of Nigeria's diverse economy?

Fashion industry

Music industry

Automobile industry

Film industry

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Nigeria's government revenue comes from oil?

50%

75%

25%

90%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why does Nigeria import refined oil despite being a major oil producer?

International trade agreements

Lack of crude oil

Lack of refining infrastructure

High domestic demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a major issue with the Nigerian National Petroleum Corporation (NNPC)?

It lacks transparency

It is too small

It has too many employees

It is not involved in oil production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a significant issue reported in 2016 regarding Nigeria's oil revenue?

Increase in oil production

Missing $16 billion in oil revenue

Discovery of new oil reserves

Decrease in oil prices

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What illegal activity is associated with the Niger Delta?

Legal oil refining

Illegal oil refining

Gold mining

Timber logging

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