Natural Resources and the Nigerian Economy - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2014

The major contribution of OPEC to the Nigerian economy is the

A. Provision of social infrastructures
B. Granting of subsidies on petroleum products
C. Stabilization of oil prices
D. Building of refineries

Question 7:

• JAMB 2014

The loading of crude oil at the terminal is an activity in the

A. Downstream sector of the oil industry
B. Upstream and downstream sector of the oil industry
C. Upstream sector of the oil industry
D. Midstream and upstream sectors of the oil industry

Question 8:

• JAMB 1992

A significant effect of the growth of the oil sector in Nigeria has been to?

A. Increase the rate of unemployment
B. Diminish the percentage contribution of the agricultural sector to GNP
C. Slow down the pace of industrialization
D. Retard the rate of economic growth

Question 9:

• JAMB 1992

Because most of her crude oil is exported, the foreign exchange earnings and the forward linkage effects Nigeria realize from her oil production are?

A. Both high
B. Respectively high and low
C. Respectively low and high
D. Both low

Question 10:

• JAMB 1993

The joint ventures operating in the Nigerian oil industry are between?

A. The NNPC and independent marketers
B. The NNPC and multinational marketers
C. The NNPC and producer marketers
D. Multinational corperations and independent marketers