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JAMB Economics 1980 Question 15

Question 15

Natural Resources and Petroleum

Nigeria earns the major part of her foreign exchange from the export of

  1. A.manpower to other countries
  2. B.crude oil
  3. C.petroleum products
  4. D.groundnuts and cotton
  5. E.palm oil and cocoa.
Show the answer and explanation

Answer: B (crude oil)

Explanation

Crude oil exports provide by far the largest part of Nigeria's foreign exchange earnings.