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2 pages/β‰ˆ550 words
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Style:
APA
Subject:
History
Type:
Research Paper
Language:
English (U.S.)
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Nigeria Research paper- Step2. History Research Paper

Research Paper Instructions:

You need 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.

Research Paper Sample Content Preview:

Nigeria Research Paper – Step 2
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Nigeria Research Paper – Step 2
VI. Major Economic Features
The government is required to set national objectives that will focus on social and economic development. Nigerian government focus on improving the standard of living to the population by having clear information about the current social and economic situation. The demographic and economic features provide a clear view of the economy of the nation. According to the CIA (2020), the Nigerian population is estimated at 214,028,302 with the major ethnic groups being Hausa 30%, Yoruba 15.5%, Ibo 15.2%, and Fulani 6%. English is the official language in Nigeria used for smooth communication in the nation. The religious composition in the nation provides a clear overview of the nation. Muslims are 53.5% of the national population, Roman Catholic 10.6% and other Christians 35.3%. Nigeria’s population is forecasted to grow to 392 million in 2050 to become one of the most populated nations in the world. Family planning programs are developed in Nigeria to reduce the high birth rate in the nation. Nigeria's economy is highly dependent on oil, foreign exchange, agriculture, telecommunication companies, and the service industry. Nigeria has abundant natural resources with oil and natural gas assisting in improving government revenue (The World Bank, 2019). Farming is a major livelihood strategy in Nigeria with a large population depending on agriculture.
Trade agreements by the Nigerian government are designed to help in having continuous economic growth. Trade with other African nations and globally help Nigeria in improving the national income. Nigeria’s economic freedom is 57.3 in 2019 making the country 111th freest in the world (Heritage Foundation, 2019). The elimination of trade barriers is an approach to increase the GDP of Nigeria through increased economic performance. The international trade agreement provides Nigeria with an opportunity to increase foreign exchange. According to Workman (2019), Nigeria exported products worth $52.9 billion with major export partners being India 15.9%, Netherlands 10.7%, Spain 10.1%, F...
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