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2 pages/β‰ˆ550 words
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APA
Subject:
History
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Research Paper
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English (U.S.)
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Nigeria Research paper- Step3. History Research Paper

Research Paper Instructions:

You need to countinue to write about Nigeria.
To complete this step, your essay and research should, at the very least, include answers, rationales, and insights into the following questions regarding your country:
VI. Major Economic Features
Current demographic and economic features:
What is the population of your country?
What are the major natural resources and the major features of the economy? Is the economy driven by the export of minerals and raw materials, agriculture, significant industries, or a mixture of these? What are the main exports and imports?
Which countries are its largest trading partners? Is the country a member of regional or continental African trading blocs?
What are major livelihood strategies, formal and informal, in both rural and urban settings? In other words, how do people in your country make a living?
Economic policies:
How did colonial policies impact your country’s current economic conditions?
How has domestic economic policy since independence shaped the country?
How have international economic forces shaped your country’s economy? For example, has your country been impacted by World Bank or International Monetary Fund programs? Do international trade agreements impact your country?
Basic economic indicators:
What is the current Gross Domestic Product (GDP) and Gross National Product (GNP)? What is the significance of these numbers.
What is the unemployment rate?
What is the poverty rate?
What is the foreign debt?
What do all these different economic indicators show about the state of the economy in your country?
Technology:
To what extent are the Internet and mobile phones, including mobile banking, used in your country? Do these affect economic potential?
VII. Conclusion:
Using all the data and analysis you have done pertaining to the above questions, write a conclusion addressing the economic health of your country and analyze the main factors contributing to its current strengths and challenges.

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Nigeria Research Paper
VI. Major Economic Features
The Federal Republic of Nigeria is a West African country and retains the highest rank of the most populous country in Africa. The country has several wildlife reserves and natural landmarks but faces major risks from frequent droughts and floods considering that a significant portion of its topography consists of lowlands. Economically, Nigeria is renowned for its vast amount of natural resources (World Bank np). The country’s major source of government revenues and foreign exchange remains to be oil. The global financial crisis of 2008/09 compelled the recapitalization and regulation of the banking sector. Today, economic growth is predicated on services, telecommunications, and agriculture. Nevertheless, the diversification has been less fruitful in alleviating the country’s extreme levels of poverty with 62% of the population unable to meet their primary necessities that are essential for living (World Bank np). The majority of the population is involved in the agricultural sector, which is the primary backbone of the economy.
Nigeria is a major player in global economics. The country’s primary exports include crude petroleum, petroleum gas, refined petroleum. Cocoa beans, and rough wood. On the other hand, it imports refined petroleum, passenger and cargo ships, wheat, cars, and raw sugar. Its top trading partners, particularly in the export sector, include India, the United States (U.S.), Spain, France, and the Netherlands. Its imports originate mainly from China, Belgium-Luxembourg, the Netherland, South Korea, and the U.S (The Observatory of Economic Complexity). Currently, Nigeria is a member of the Economic Community of West African States (ECOWAS), which has the primary aim of promoting economic integration across the region. There are concrete rumors that President Buhari is spearheading the creation of the African Continental Free Trade Area (AfCFTA), which will connect the 1.3 billion Africans and create a $3.4 trillion economic bloc (Shao). This idea could benefit Africans highly considering their vast endowment of resources.
The arrival of the British col...
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