CLEAN: Economic ill winds hit Nigeria

The video discusses the economic reliance on oil, which constitutes over 90% of national earnings. It highlights a projected 15-20% decrease in government spending, which is significant as the government accounts for 40% of the economy. This reduction, coupled with expensive imports, is expected to slow economic growth to 3.5-4% year-on-year.

What percentage of the country's earnings is derived from oil?

• 70%

• 50%

• 90%

• 100%

By how much is government spending expected to decrease?

• 5% to 10%

• 15% to 20%

• 35% to 40%

• 25% to 30%

What portion of the economy does government spending account for?

• 40%

• 30%

• 20%

• 50%

Why is economic growth slowing down?

• Rising inflation

• Lower oil prices

• Higher import costs

• Increased exports

What is the projected range for economic growth year on year?

• 2% to 3%

• 4.5% to 5%

• 1% to 2%

• 3.5% to 4%