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
- RINDER PESTS
148. NEWCASTLE DISEASE
149. BACTERIA DISEASES
153. FUNGAL DISEASES
- PROTOZOAN DISEASES
159. TAPE WORM
160. ROUND WORM OF PIGS
161. LIVER FLUKE
162. ECTO PARASITES
- of demand curve and used
- advertising industry
- factors of production
- joint stock company
- public enterprises
- private enterprises
- limited liability companies
- market concept
- money market
- how companies raises funds for expansion
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