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SS1: ECONOMICS - 2ND TERM

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Nigeria’s economy is one of the largest economies in West Africa. The economy is a mixed economy with expanding financial services in entertainment, telecommunication, agriculture, natural resources, etc.

Due to the level of corruption, political instability, misappropriation, embezzlement, mismanagement of the past military leaders and the public officers the country has not been achieving its full economic potential but the economic reforms have put Nigeria back on track towards achieving its full economic potential. The Nigeria economy is a primary sector economy. 

Nigeria’s export of oil has enabled the country to have post merchandise trade, the economy is generating revenue from petroleum and this makes this sector very important and vibrant. But the crash in oil prices, the activities of Niger Delta and poor economic policy have led to Nigeria experiencing economic recessions. 

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