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JAMB Economics 1994 Question 34

Question 34

Natural Resources and Petroleum

Petroleum is the mainstay of the Nigerian economy because it is the

  1. A.main foreign exchange earner
  2. B.greatest employer of labour
  3. C.greatest contributor to the growth of agriculture
  4. D.source of high income for its workers
Show the answer and explanation

Answer: A (main foreign exchange earner)

Explanation

Oil earns most of Nigeria's foreign exchange and government revenue.