A major obstacle to the development of Nigeria economy is?

A. low capital formation
B. rural-urban migration
C. over-dependence on oil
D. poor developmental policies

Correct Answer:

Option D – poor developmental policies

Explanation

Nigeria’s economic potential is constrained by many structural issues, including inadequate infrastructure, tariff and non-tariff barriers to trade, obstacles to investment, poor developmental policies, lack of confidence in currency valuation, and limited foreign exchange capacity.