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The petroleum industry in Nigeria is?

The petroleum industry in Nigeria is?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A The sole source of the nation's revenue
  • B The oldest industry in the country
  • C The mainstay of the economy
  • D A factor in the decline in the nation's foreign reserves
Correct Answer: Option D
Explanation:
The petroleum industry in Nigeria is the largest on the African continent. As of 2014, Nigeria's petroleum industry contributes about 14% to its economy. Therefore, though the petroleum sector is important, it remains in fact a small part of the country's overall diversified economy

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