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The petroleum industry in Nigeria is?

Economics
JAMB 1998

The petroleum industry in Nigeria is?

  • A. the sole source of the nation's revenue
  • B. the oldest industry in the country
  • C. the mainstay of the economy
  • D. a factor in the decline in the nation's foreign reserves
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Correct Answer: Option C
Explanation

The petroleum industry in Nigeria is the largest on the African continent. As of 2014, Nigeria's petroleum industry contributes about 14% to its economy. It is one of the pillars of the nation's economy.

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