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The effects on peaceful production and trade were terrible since slave trade was a cause of conflicts. However, the Atlantic trade still brought advantages. Especially, the currencies that West African tradesmen adopted were more efficient than earlier commodity currencies. This helped to reduce the cost of doing business. [10]
inability to recover from a major business interruption; A study published in 2014 by the Turnaround Management Society assesses that most business crises are caused by the mistakes of upper management. The most frequent causes of a crisis are that the management continued with a strategy that was no longer working for the company (54.6%), and ...
Corruption in Nigeria is a constant phenomenon. In 2012, Nigeria was estimated to have lost over $400 billion to corruption since its independence. [2] [3] Nigerian politicians find themselves in a strong position of power and wealth due to their connections with the oil and gas industries in Nigeria.
The following list of corporations involved major collapses, through the risk of job losses or size of the business, and meant entering into insolvency or bankruptcy, or being nationalised or requiring a non-market loan by a government.
Nigeria ranks sixth worldwide and first in Africa in farm output. [63] The sector accounts for about 18% of GDP and almost one-third of employment. Though Nigeria is no longer a major exporter, due to local consumer boom, it is still a major producer of many agricultural products. [64] Further agricultural products include palm oil and rubber.
On May 1, 2010, a ruptured ExxonMobil pipeline in the state of Akwa Ibom, Nigeria, spilled more than a million gallons into the delta and contributed to the major environmental issues in the Niger Delta. [1] The spill had occurred at an Exxon platform some 20–25 miles (32–40 km) offshore which feeds the Qua Iboe oil export terminal. [2]
Typical diesel generator widely used in Nigeria due to lack of supply from the grid. The Nigerian energy supply crisis refers to the ongoing failure of the Nigerian power sector to provide adequate electricity supply to domestic households and industrial producers despite a rapidly growing economy, some of the world's largest deposits of coal, oil, and gas and the country's status as Africa's ...
The major languages spoken in Nigeria represent three major families of languages of Africa: the majority are Niger-Congo languages, such as Igbo, Yoruba, Ibibio, Ijaw, Fulfulde, Ogoni, and Edo. Kanuri , spoken in the northeast, primarily in Borno and Yobe State , is part of the Nilo-Saharan family, and Hausa is an Afroasiatic language.