Question

Nigeria's economy would weaken tremendously if the price on this exported resource dropped.

lumber
sugar
coal
oil

Answer 1

Nigeria's economy would weaken tremendously if the price of **oil** dropped. Oil is a major export for Nigeria and a significant source of revenue for the government. The country's economy is heavily reliant on oil exports, which contribute substantially to its GDP, foreign exchange earnings, and government budget. A drop in oil prices would lead to reduced income, impacting various sectors of the economy and potentially leading to economic instability.