The petroleum industry in Nigeria is?

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 – a factor in the decline in the nation’s foreign reserves

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