Oil (no prefixes or suffixes) The price of oil depends on worldwide supply and demand. Africa produces approximately 30 percent of the worlds newly discovered oil deposits. Nigeria is one of the fastest growing countries in Africa and oil is funding this growth

Human Capital Hu-man Cap-i-tal Humain (human being) Capitalis (of the head) Countries must invest in human capital for their economy to improve. health, education, experience, training, skills and values of people.

Entrepreneur en·tre·pre·neur Entrepren (to undertake) An advantage to being an entrepreneur is that you can be your own boss. People who use their money and talents to start a new business

Nigeria Federal Republic of Nigeria

Flag Green represents the forests and abundant natural wealth of the country White stands for peace and unity

Map Capital is Abuja

History Nigeria maintained independence until the late 1800s when Britain stepped in and began colonizing the area In 1923, a movement began in Nigeria to set up the country as a self-governing member of the British Commonwealth. However, another nationalist group wanted complete freedom from British rule. Both military and peaceful factions struggled for Nigerian independence

The federal elections in 1959 gave the nationalist groups enough votes to form a government. In 1960, an independent government was established in Nigeria. At first, it was one of the more stable governments of the new African countries But at the end of the 1960s, a civil war broke out Because of clashes between ethnic groups, Nigeria suffered from violence and military rule until 1999, when a democratic government was established

Government Republic Distribution of Power – Federal Civic Participation – Presidential Democracy

Three Branches Executive Chief of state: President Goodluck Jonathan Cabinet: Federal Executive Council Legislative Bicameral National Assembly consists of the Senate and House of Representatives Judicial Supreme Court (judges appointed by the president) Federal Court of Appeals

Religious & Ethnic Groups Muslim 50% Christian 40% Indigenous beliefs 10% More than 250 ethnic groups Most populous and politically influential: Hausa and Fulani 29% Yoruba 21% Igbo (Ibo) 18%

Language English (official) Hausa Yoruba Igbo (Ibo) Fulani over 500 additional indigenous languages

Economy Nigeria is the sixth largest producer of oil in the world as well as a major supplier to America Much of the Nigerian population is desperately poor because the money bypasses the people and goes straight to corrupt politicians

While Nigeria has a healthy GDP, about 70% of the people live below poverty level The income from oil belongs to a small group of wealthy people Nigeria has a mixed economy and has been moving towards a more market economy since 2006 when the government began to allow private ownership of major petroleum interests

Major Industry Crude oil Coal Tin Rubber products Wood Hides and skins Textiles Cement and other construction materials Food products Footwear Chemicals Fertilizer Printing Ceramics Steel

Natural Resources Natural gas Petroleum Tin Iron ore Coal Limestone Niobium Lead Zinc Arable land

Geography & Climate The Niger River enters the country in the northwest and flows southward through tropical rain forests and swamps to its delta in the Gulf of Guinea Climate Varies – equatorial in south, tropical in center, arid in north

Environmental Issues Soil degradation Rapid deforestation Urban air and water pollution Desertification Oil pollution - water, air, and soil Has suffered serious damage from oil spills Loss of arable land Rapid urbanization

Literacy Rate –Total 68% –Male 75.7% –Female 50.5% Life Expectancy –Total 47.2 –Male 46.5 –Female 48.0 GDP –$2,400 per capita Population 152,217,341 Below Poverty Level –70%