JAMB Economics questions: Natural resources and the Nigerian economy

15 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Natural resources and the Nigerian economy· JAMB

   Natural resources are

   • Aman-made machines
   • Bgifts of nature used in production
   • Chuman skills
   • Dmoney

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   Explanation and discussion

2. Question 2· Natural resources and the Nigerian economy· JAMB

   Bitumen deposits in Nigeria are found mainly in

   • AOndo State
   • BKano State
   • CBorno State
   • DSokoto State

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   Explanation and discussion

3. Question 3· Natural resources and the Nigerian economy· JAMB

   Nigeria is a member of OPEC, which it joined in

   • A1980
   • B1960
   • C1999
   • D1971

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4. Question 4· Natural resources and the Nigerian economy· JAMB

   The Petroleum Industry Act was signed in

   • A2010
   • B1999
   • C2021
   • D1980

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5. Question 5· Natural resources and the Nigerian economy· JAMB

   The Petroleum Industry Act signed in 2021 aims mainly to

   • Aban oil exports
   • Breform the governance and regulation of Nigeria's oil and gas industry
   • Cnationalise all oil companies
   • Dfix the price of petrol forever

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6. Question 6· Natural resources and the Nigerian economy· JAMB

   The downstream sector of the petroleum industry covers

   • Aexploration for oil
   • Brefining and marketing of petroleum products
   • Cdrilling oil wells
   • Dseismic surveys

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7. Question 7· Natural resources and the Nigerian economy· JAMB

   Nigeria became a member of the Organisation of Petroleum Exporting Countries (OPEC) in

   • A1971
   • B1960
   • C1956
   • D1999

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8. Question 8· Natural resources and the Nigerian economy· JAMB

   The upstream sector of the petroleum industry is concerned with

   • Aexploration and production of crude oil
   • Bselling petrol at filling stations
   • Crefining crude oil
   • Ddistribution of kerosene

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9. Question 9· Natural resources and the Nigerian economy· JAMB

   Over-dependence on crude oil makes Nigeria's economy vulnerable to

   • Ahigh rainfall
   • Bswings in world oil prices
   • Cpopulation growth
   • Dforeign aid

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10. Question 10· Natural resources and the Nigerian economy· JAMB

    Natural gas in Nigeria is increasingly used for

    • Anothing
    • Bonly cooking
    • Conly fertiliser
    • Dpower generation and export as LNG

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11. Question 11· Natural resources and the Nigerian economy· JAMB

    When the world price of crude oil falls sharply, Nigeria's main problem is likely to be

    • Aa fall in imports of fuel
    • Ba rise in oil production
    • Ca fall in foreign exchange earnings and government revenue
    • Da rise in cocoa exports

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12. Question 12· Natural resources and the Nigerian economy· JAMB

    Gas flaring is wasteful because

    • Avaluable energy is burned off and the environment is polluted
    • Bit produces oil
    • Cit creates jobs
    • Dit saves money

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13. Question 13· Natural resources and the Nigerian economy· JAMB

    Coal has historically been mined in large quantities at

    • AKano
    • BEnugu
    • CJos
    • DLokoja

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14. Question 14· Natural resources and the Nigerian economy· JAMB

    'Dutch disease' describes a situation in which

    • Aa natural-resource boom causes other sectors such as agriculture and manufacturing to decline
    • Ba country exports too many flowers
    • Cinflation falls sharply
    • Da country has no resources

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15. Question 15· Natural resources and the Nigerian economy· JAMB

    Before crude oil, Nigeria earned most of its foreign exchange from

    • Amanufactured goods
    • Btin mining only
    • Ctourism
    • Dagricultural exports such as cocoa, groundnut and palm produce

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