Transcript People who use their money and talents to start a new business

• Oil
• Oil
• (no prefixes or suffixes)
The price of oil depends on worldwide supply and
demand.
• Africa produces approximately 30 percent of
the worlds newly discovered oil deposits.
Nigeria is one of the fastest growing countries
in Africa and oil is funding this growth
• Human Capital
• Hu-man Cap-i-tal
• Humain (human being)
Capitalis (of the head)
Countries must invest in human capital for their
economy to improve.
• health, education, experience,
training, skills and values of people.
• Entrepreneur
• en·tre·pre·neur
• Entrepren (to undertake)
An advantage to being an entrepreneur is that you
can be your own boss.
• People who use their money and
talents to start a new business
Nigeria
Federal Republic of Nigeria
Flag
• Green represents the
forests and
abundant natural
wealth of the
country
• White stands for
peace and unity
Map
Capital is Abuja
History
• Nigeria maintained independence until the late
1800s when Britain stepped in and began
colonizing the area
• In 1923, a movement began in Nigeria to set up
the country as a self-governing member of the
British Commonwealth.
• However, another nationalist group wanted
complete freedom from British rule.
• Both military and peaceful factions struggled for
Nigerian independence
• The federal elections in 1959 gave the nationalist
groups enough votes to form a government.
• In 1960, an independent government was
established in Nigeria. At first, it was one of the
more stable governments of the new African
countries
• But at the end of the 1960s, a civil war broke out
• Because of clashes between ethnic groups,
Nigeria suffered from violence and military rule
until 1999, when a democratic government was
established
Government
• Republic
• Distribution of Power – Federal
• Civic Participation – Presidential Democracy
Three Branches
Executive
• Chief of state: President Goodluck Jonathan
• Cabinet: Federal Executive Council
Legislative
• Bicameral National Assembly consists of the Senate and
House of Representatives
Judicial
• Supreme Court (judges appointed by the president)
• Federal Court of Appeals
Religious & Ethnic Groups
• Muslim 50%
• Christian 40%
• Indigenous beliefs 10%
• More than 250 ethnic
groups
• Most populous and
politically influential:
• Hausa and Fulani 29%
• Yoruba 21%
• Igbo (Ibo) 18%
Language
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English (official)
Hausa
Yoruba
Igbo (Ibo)
Fulani
over 500 additional indigenous languages
Economy
• Nigeria is the sixth largest producer of oil in
the world as well as a major supplier to
America
• Much of the Nigerian population is
desperately poor because the money bypasses
the people and goes straight to corrupt
politicians
• While Nigeria has a healthy GDP, about 70% of
the people live below poverty level
• The income from oil belongs to a small group
of wealthy people
• Nigeria has a mixed economy and has been
moving towards a more market economy
since 2006 when the government began to
allow private ownership of major petroleum
interests
Major Industry
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Crude oil
Coal
Tin
Rubber products
Wood
Hides and skins
Textiles
Cement and other
construction materials
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Food products
Footwear
Chemicals
Fertilizer
Printing
Ceramics
Steel
Natural Resources
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Natural gas
Petroleum
Tin
Iron ore
Coal
Limestone
Niobium
Lead
Zinc
Arable land
Geography & Climate
• The Niger River enters the country in the
northwest and flows southward through
tropical rain forests and swamps to its delta in
the Gulf of Guinea
Climate Varies –
• equatorial in south, tropical in center, arid in
north
Environmental Issues
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Soil degradation
Rapid deforestation
Urban air and water pollution
Desertification
Oil pollution - water, air, and soil
Has suffered serious damage from oil spills
Loss of arable land
Rapid urbanization
• Literacy Rate
– Total 68%
– Male 75.7%
– Female 50.5%
• GDP
– $2,400 per capita
• Below Poverty Level
– 70%
• Life Expectancy
– Total 47.2
– Male 46.5
– Female 48.0
• Population
• 152,217,341