Test: Natural Resources and the Nigerian Economy - 1 - JAMB MCQ

Wheat is not considered a major natural resource in Nigeria. Major natural resources in Nigeria include petroleum, gold, diamond, timber, etc. Wheat is predominantly grown in temperate regions.

The primary sector of the Nigerian economy is primarily engaged in agricultural activities such as farming, fishing, livestock rearing, and forestry. It involves the extraction or cultivation of natural resources.

The oil sector has traditionally contributed the most to Nigeria's Gross Domestic Product (GDP). Nigeria is one of the largest oil-producing countries in the world, and oil exports have been a significant source of revenue for the country.

Limestone is the most significant non-oil mineral resource in Nigeria. It is used in various industries, including construction, cement production, and chemical manufacturing.

Mining is the process of extracting minerals or other geological materials from the earth for economic purposes. It involves activities such as drilling, blasting, and excavation to extract valuable resources.

The oil sector plays a crucial role in the Nigerian economy. It is the main source of government revenue through oil exports, which contribute significantly to the national budget and public expenditure.

The service sector of the Nigerian economy is more diversified and less dependent on external factors compared to other sectors like the oil, agricultural, or manufacturing sectors. It includes various industries such as banking, telecommunications, hospitality, and healthcare.

Technological advancements play a significant role in the development of major natural resources in Nigeria. Improved technology enhances extraction techniques, efficiency, and cost-effectiveness in industries such as oil exploration and mining.

Petroleum, also known as crude oil, is the main source of foreign exchange earnings for Nigeria. It accounts for a significant portion of Nigeria's export earnings and plays a vital role in the country's balance of trade.

The exploitation of natural resources in Nigeria has led to environmental degradation. Activities such as oil spills, deforestation, and pollution associated with resource extraction have negatively impacted the environment, including land, water, and biodiversity.