Chapter 1.2 part 1

Nigeria
The oil industry: a blessing or a curse?
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Slide 1: Diapositive
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Nigeria
The oil industry: a blessing or a curse?

Slide 1 - Diapositive

What do you think.....

The oil-industry is ....
A
a bless
B
a curse

Slide 2 - Quiz

Nigeria is rich!
1956: discovery of oil in the Niger delta.
Multinationals extract large volumes of oil from underground wells.
The oil industry is very important for Nigeria.

Slide 3 - Diapositive

Because.....
-14% of GNP
- oil revenue in 2013 – €80        billion
- 70% of government income.
 Essential for funding government investment in education and infrastructure.

Slide 4 - Diapositive

Slide 5 - Diapositive

Oil revenue in Nigeria determined by production, export and oil price.


Oil revenue can be high or low:
high: as a result of high output and exports
low: as a result of internal conflicts or a low foreign demand


Slide 6 - Diapositive

The unpredictable oil trade
high: when the oil price is high
- a rising demand for oil on the global market
- a shortage of oil on the global market

low: when the oil price is low
- a shrinking demand for oil (e.g. during an economic crisis)
- there is a surplus of oil on the global market

Slide 7 - Diapositive

Slide 8 - Diapositive

Oil and poverty

Nigeria is poor.....

About 40% of Nigerians are poor, despite the oil industry.

Slide 9 - Diapositive

* Very few jobs in the oil industry.
* Inefficient distribution of revenue by the government:
         - Very little money for rural areas --> low yields.
             From self-sufficiency to food imports.
         - Very low investment in industry --> neglect.
             High unemployment and many people work in the
             informal sector

Slide 10 - Diapositive

* Money is lost through corruption.
* Oil industry pollutes agricultural and fishing areas.

Slide 11 - Diapositive

What do you think.....

The oil-industry is ....
A
a bless
B
a curse

Slide 12 - Quiz

Slide 13 - Vidéo

Go to the geo online and do assignment 1-2-5-6

Finished? Then look at the following movie.

Slide 14 - Diapositive

Slide 15 - Vidéo