A disadvantage of Nigeria's dependence on imported petroleum products is the

Assessment: JAMB UTME - Economics - 2010 Subject: Economics

Question 1 Report

A disadvantage of Nigeria's dependence on imported petroleum products is the
Answer Details
Nigeria's dependence on imported petroleum products has a disadvantage in the form of instability in the supply of the product. Nigeria is one of the largest oil-producing countries in the world, but its refineries are poorly maintained and cannot meet the domestic demand for petroleum products. Therefore, Nigeria has to rely on imports to meet its demand for fuel, which makes the country vulnerable to fluctuations in global oil prices and supply disruptions. The importation of petroleum products is also dominated by multinational corporations, which can further exacerbate Nigeria's dependence on imported products.

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