(a)(i) Name any one country in Europe that trades with Nigeria (ii) Identify any two commodities exported by each trading partner (b) State four benefits which both countries derive from their trade relations (c) Highlight any four problems facing the trade between the two countries in (a)(i) above
Explanation
(a)(i) One country in Europe that trades with Nigeria is United Kingdom (ii) Two commodities exported by United Kingdom are machinery and motor vehicles and spare parts while Nigeria exports petroleum and cocoa (b) Four benefits which both countries derive: (i) Satisfying the needs that may not be locally met. (ii) To earn foreign exchange (iii) To improve the standard of living (iv) To create job opportunities (c) Four problems facing the trade between the two countries in (a)(i) above are (i) inadequate capital in the case of Nigeria (ii) Nigeria produces mainly raw materials to European markets (iii) Unfavourable balance of trade (iv) Low value of Naira