The slow pace of industrial growth in Nigeria can be attributed to _________?

A. lack of raw materials
B. lack of market for produce
C. inadequate skilled labour
D. over-dependence on the oil sector

Correct Answer:

Option D – over-dependence on the oil sector

Explanation

By implication, the dependence on oil revenue to finance national development has made the Nigerian economy highly susceptible to oil price volatility. This has in turn slowed the growth of other industries like agriculture because less attention and investment is being put in there.