NATURAL RESOURCES IN NIGERIA 2

OTHER NATURAL RESOURCES IN NIGERIA

Definition of natural resources: Natural resources can be defined as the materials nature provides and are necessary for the production of human wants or needs. They are usually associated with land. Examples are the minerals in die soil and vegetation.

Roles of Natural Resources in Nigeria

  • Natural resources contribute to economic development by providing production input.
  • Export of natural resources such as crude oil, ground nut, cocoa, diamond contribute to foreign exchange earnings.
  • Investment in the exploitation of natural resources contributes to the growth of capital stock of the economy.
  • The exploitation of natural resources creates jobs.
  •  The returns from the exploitation of natural resources generate a sizeable income for the economy, e.g. royalties.
  •  The natural resources promote the cultivation of crops to feed the people.

  •  It creates the environment for the development of the secondary and tertiary sectors of the economy, e.g. manufacturing and tourism.

Apart from petroleum, there are other mineral resources in Nigeria. Read more of these minerals

  1. RINDER PESTS
    148. NEWCASTLE DISEASE
    149. BACTERIA DISEASES
    150. ANTHRAX
    151. BRUCELLOSIS
    152. TUBERCULOSIS
    153. FUNGAL DISEASES
  2. PROTOZOAN DISEASES
    155. TRYPONOSOMIASIS

    159. TAPE WORM
    160. ROUND WORM OF PIGS
    161. LIVER FLUKE
    162. ECTO PARASITES
    163. TICK

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  1. of demand curve and used
  2. advertising industry
  3. factors of production
  4. entrepreneur
  5. joint stock company
  6. public enterprises
  7. private enterprises
  8. limited liability companies
  9. migration
  10. population
  11. market concept
  12. money market
  13. shares
  14. how companies raises funds for expansion
  15.  

 types

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