Question 1: Define 'economic development'.

Answer: Economic development refers to the process by which a country's economy grows and improves the standard of living for its citizens, often measured through indicators like GDP, health, and education.

Question 2: What is 'urbanization'?

Answer: Urbanization is the increasing number of people living in cities, often due to rural-urban migration and natural population growth.

Question 3: Explain the term 'multinational corporation'.

Answer: A multinational corporation (MNC) is a large company that operates in multiple countries, often involved in production, sales, or services across borders.

Question 4: Define 'diversification' in economic terms.

Answer: Diversification is the process of expanding an economy beyond reliance on a single industry or resource to reduce risk and promote sustainable growth.

Question 5: What is 'foreign direct investment' (FDI)?

Answer: FDI is when a company or individual from one country invests directly in business interests in another country, such as establishing factories or subsidiaries.

Question 1: Which Nigerian city is known as the economic hub due to its port and industrial activities?

Answer: Lagos

Question 2: Name the major natural resource that has driven Nigeria's economy in recent decades.

Answer: Oil (petroleum)

Question 3: What percentage of Nigeria's population lives in urban areas?

Answer: Over 50%

Question 4: Identify two challenges faced by Nigeria due to rapid urbanization.

Answer: Overcrowding and inadequate infrastructure

Question 5: Explain the significance of foreign direct investment (FDI) in Nigeria’s economic growth.

Answer: FDI brings capital, technology, and expertise to Nigeria, helping to develop industries, create jobs, and improve infrastructure, thus boosting economic growth.

Question 1: In recent years, Nigeria has attracted significant FDI in the oil and telecommunications sectors. Discuss how this investment has impacted Nigeria's economy and urban development.

Answer: FDI in Nigeria has led to increased revenue from oil exports and expansion of telecommunications infrastructure, improving access to communication and services. It has created jobs and attracted further investment, contributing to urban growth in cities like Lagos and Port Harcourt. However, reliance on oil has also made the economy vulnerable to global price fluctuations, and urban areas face challenges like congestion and pollution.

Question 2: Describe one positive and one negative effect of Nigeria’s economic growth on rural areas.

Answer: Positive: Improved infrastructure and access to services. Negative: Increased rural-urban divide and migration to cities causing rural depopulation.

Question 1: Analyse the causes of rapid urbanization in Nigerian cities like Lagos.

Answer: Causes include rural-urban migration driven by search for employment, better healthcare and education, natural population growth, and the concentration of economic opportunities and infrastructure in cities like Lagos.

Question 2: Explain why Nigeria's economy is considered diversified and what challenges it faces in achieving full diversification.

Answer: Nigeria's economy is diversified because it includes sectors like agriculture, industry, and services alongside oil. Challenges include over-reliance on oil exports, corruption, inadequate infrastructure, and lack of investment in other sectors.

Question 3: Discuss the environmental impacts of Nigeria’s oil industry and how they affect local communities.

Answer: Oil extraction has led to oil spills, pollution of water sources, and land degradation. These environmental impacts harm local communities' health, reduce agricultural productivity, and cause displacement, leading to social conflict and economic hardship.

Question 1: To what extent have Nigeria’s development strategies successfully reduced poverty and improved living standards? Consider both positive outcomes and ongoing challenges.

Answer: Nigeria’s strategies, such as investment in infrastructure, education, and diversification efforts, have led to economic growth and some poverty reduction, especially in urban areas. However, high unemployment, unequal wealth distribution, and infrastructural deficits persist, limiting overall improvements in living standards. While progress has been made, significant challenges remain, and sustainable development requires addressing corruption and rural development.