Hello, my name is Mr. March, and I'm here today to teach you all about the Nigerian economy.

So grab everything that you need for today's lesson, and let's get going.

So by the end of today's lesson, you'll be able to describe the main sectors of Nigeria's economy and consider whether the country's economic growth benefits everyone equally.

There are five key terms for today's lesson.

Those are economy, informal job sector, indicator, development, and inequality.

Economy is the way money in a particular area is made and spent.

The informal job sector are jobs that are not officially recorded or regulated, and do not involve the payment of taxes.

An indicator is a sign that shows the level or state of something.

And development is when something changes, usually an improvement.

Inequality is when something is not shared evenly between everyone.

There are two learning cycles for today's lesson.

We're gonna start with the first learning cycle, which is all about unpacking Nigeria's economy.

Nigeria has one of the largest economies in Africa, and there are many different sectors of Nigeria's economy which makes it so prosperous.

So it comes down to sectors such as the agricultural sector, the service sector, the manufacturing sector, trade, as well as oil and gas.

All of these industries combined really makes Nigeria's economy one of the largest and most successful in the African continent.

So a quick learning check, it says, to complete the labels, to describe the main sectors of Nigeria's economy.

So what you need to do right now then is pause the video here whilst to try to recall the information from the previous slide.

And the correct answers were oil and gas, agriculture, services, manufacturing, and trade.

Really well done if you were able to recall those five pieces of information.

Oil and gas, let's start there.

The oil and gas industry is really important to Nigeria's economy.

Nigeria is one of the largest oil producers anywhere in the continent of Africa.

Nigeria has huge oil reserves, particularly in the southern part of the country.

Most of those, as I said, are located in the Niger Delta region in the south of the country.

And it generates a huge amount of income by being able to sell this valuable energy resource and use this energy resource within Nigeria.

But as I said, sell it on the international market to generate income and create jobs as well for people.

What about agriculture? Well, nearly a quarter of Nigeria's total GDP actually comes from the agricultural industry.

And the major crops include maize, cassava.

Palm oil which, once again, it can sell on the international markets since it's found in a great number of different products, be it food or cosmetics.

Rice as well, rubber, and finally cocoa.

Sam says that many people in Nigeria depend on farming for their income and food, particularly in rural areas.

So we have a mixture of both commercial and subsistence farming happening in the country of Nigeria.

So now let's test you, it says, for our learning check, unscramble the letters to list some major crops grown in Nigeria.

So you can see then, you've got those six different major crops, but the letters have all been scrambled.

What I need you to do right now then is pause the video here whilst you try to unscramble those letters.

And the correct answers are, the first one was cassava.

The second, cocoa.

The third, maze.

The fourth, palm oil.

The fifth, rice.

And, finally, the sixth, rubber.

Really, really well done if you were able to get those correct.

As Izzy says, some of these crops are exported, while some are actually used for consumption in the country.

Services then, well, Nigeria's service sector is growing rapidly.

Year on year, its service sector is growing.

It includes things like banking, education, entertainment, healthcare, hospitality, and telecommunications.

Nigerian entertainment industry, particularly the film industry, is massive.

It exports its films around the world.

So too is its importance in terms of banking, particularly within the African continent itself.

As Aisha says, the Nigerian film industry is one of the largest producers of films anywhere in the world.

And Nigeria's seen a rapid increase in mobile phone usage and internet access, thereby sort of relating or referring to the upsurge of services and service usage within Nigeria.

Nigeria is also developing a real strong manufacturing base because it's able to manufacture a range of different goods.

And these include the following, cement, electronics, fertilisers, textiles, food products, and pharmaceuticals.

So you see a great range of different products right there.

And what I see when I see those six different products, which by the way is just a small glimpse into the total number of products that Nigeria produces, what I see is a range of different complexities and products that they're able to produce.

Starting with the really basic things, such as fertilisers and textiles, but also the more advanced goods which can be sold for a much higher price.

Things such as electronics and pharmaceuticals.

And all of these different products that they're able to produce can then be sold and exported around the world.

And that leads nicely onto trade, because trade helps Nigeria to connect with other countries.

Exporting goods and services is really important for Nigeria's economy.

Nigeria does also input many goods and services from other countries that may not be able to be produced locally.

As Luca says, there are several large ports on Nigeria's southern coast, including this one in Lagos.

And when you look at that picture, you really get a sense from the size and number of containers of the size of the port that's found in Lagos.

It really is an important economic and trade hub for Nigeria, as well as Africa as a whole.

Trade within Nigeria is an important part of its economy.

Many people rely on small scale trading to make a living.

And small scale trading is just the exchanging of goods, such as excessive or excess crops that people may have grown or items they may have made by hand for money.

So we need to see business and trade at a multitude of different levels.

That high level trade of oil and gas perhaps, but also the rather more small scale trading that's done in places as you can see in the image in front of you.

Time once again for another learning check, and it says to add labels to show some of the products Nigeria manufactures.

So what you need to do right now then is pause the video here whilst you try to recall the pieces of information to help you complete this learning check.

And the correct answers were cement, electronics, fertilisers, textiles, food products, and finally, pharmaceuticals.

So really well done if you were able to recall those six pieces of information.

The informal job sector is an important and integral part of Nigeria's economy.

This includes jobs and businesses that aren't actually officially regulated or recorded, and don't involve the payment of taxes.

And in fact, around nine in every 10 employed people in Nigeria work within the informal job sector, which is an astounding statistic.

The informal job sector provides employment and livelihoods for millions of people in Nigeria.

So it's a really important sector of Nigeria's economy.

It provides essential goods and services, it supports local communities.

And contributes to the economy, even though they're not actually paying tax.

Jobs include street vendors, craftspeople, small scale farmers, as well as domestic workers.

It really is the basis of Nigeria's economy.

However, there are also challenges, because working in the informal jobs sector often means that people aren't paid fairly and lack job security and benefits.

When I say benefits, I'm talking about things such as sickness pay or holiday leave.

And also, they can be fired without any reason.

These are all things that we take for granted in countries such as the United Kingdom.

But working in the informal job sector, you don't have any of those job securities or benefits.

Now, Nigeria's rapid population increase in urbanisation, by which I mean the growing number of people living in urban areas or towns and cities, means that the informal job sector is growing at a really fast rate.

So a quick learning check, it says, approximately what percentage of Nigeria's employed people work in the informal job sector? What you need to do then is pause the video here whilst you read through those four options and select what you think is the correct answer.

And the correct answer was 90%.

Yes, nine in 10 people in Nigeria work within the informal job sector.

So really well done if you were able to select D as the correct answer.

As Jun says, more than 2 billion people actually around the world work in the informal job sector.

It's actually a more common work practise than is actually working in the formal job sector.

So Nigeria is nothing unique in this aspect.

Many, many countries and many, many people around the world are actually working in the informal job sector.

So another learning check says, true or false, the informal job sector isn't important to the economy and people of Nigeria? Once again, what you need to do then is pause the video here whilst you consider and then select your answer.

And the correct answer is false.

Now, once again, I'd like you to pause the video whilst you consider as to why the statement then is false.

And the reason it's false is that the informal job sector actually provides employment and livelihoods for millions of people across Nigeria.

It provides essential goods and services, it supports local communities.

And contributes to the economy, even though tax is not being paid.

So really, really well done if you're able to identify those two correct answers.

We're on now to our two practise tasks for our first learning cycle.

And the first one says to complete the table by listing the main sectors of Nigeria's economy.

And try to add something that you've learned about each and every one of those sectors.

The second question says to describe some of the benefits and challenges of the informal job sector in Nigeria.

So what you need to do then is pause the video here whilst you attempt these two practise tasks, best of luck.

In terms of feedback then for the first question, here is an example of a completed table which you may have done yourself.

So the first sector I've looked at is the oil and gas.

Now, the information around that is that Nigeria is one of the largest oil producers in Africa.

Next we have agriculture.

Crops include maize, cassava, palm oil, rice, rubber, and cocoa.

Next we have services, which the information around that is the Nigerian film industry.

And it's one of the largest producers of films anywhere in the world.

Manufacturing, well, Nigeria manufactures a range of different goods including cement, electronics, fertilisers, and textiles.

And finally, trade, many people rely on small scale trading to make a living.

And here's my answer then for the second question, which you may have included yourself.

So I've said that the informal job sector provides employment and livelihoods for millions of people in Nigeria.

Around nine in 10 people work in this sector.

It provides essential goods and services, it supports local communities, and contributes to the economy.

However, working in the informal job sector often means that people aren't paid fairly and lack job security and benefits.

So really, really well done if you were able to include anything like that in your own answer.

We're on now to our second and final learning cycle, and this is all about the economic inequality in Nigeria.

Nigeria's economy is growing, that much is clear.

Different indicators can be used to measure that economic growth, the first one of which is GDP, or gross domestic product.

Now, what is this? It is the total monetary value of all the goods and services produced in a country over a year.

GDP per capita is that number of GDP divided by the total amount in the population.

So GDP is usually measured in US dollars.

This makes it easier then to compare different countries when we're looking at GDP per capita.

GDP per capita in Nigeria has increased over the last few decades.

In 1990, it was down at just $3,651 US.

Remember, this is per person per year.

Compare that now to 2023, and it's up at 5,593.

Now, you may be thinking that this is still an insignificant amount of money.

And by perhaps the terms of somebody living in the United Kingdom, you may be right.

But in terms of an increase from 3,651 to 5,593, that increase is undoubtedly a huge step forward.

And as Izzy says, remember GDP per capita is an average.

So some people have much more wealth than others.

Economic factors such as GDP per capita are just one of the ways that we can measure development.

And remember, development refers to the improvement in people's quality of life within a country or region.

And as Luca says, there are other development indicators that focus on different things, such as the quality of people's lives or the health of the natural environment.

So a quick learning check, it says true or false, economic indicators are the only way of measuring development? What you need to do right now then is pause the video here whilst you consider and then select your answer.

And the correct answer is false.

Now, once again, I'd like you to pause the video whilst you consider as to why the statement then is false.

And the reason it's false is that actually, there are many different ways to measure development.

Other development indicators focus on different things, such as the quality of people's lives or the health of the natural environment.

Yes, these may include things such as access to healthcare or perhaps the literacy rate of the people in the country.

There are many different indicators that we can use to assess a country's development.

So really well done if you were able to identify those two correct answers.

So I have a quick question for you, it says, how might economic growth help to improve the quality of people's lives in Nigeria? You may like to pause the video here whilst to consider your own answer to that question, or better still, perhaps even have a discussion with someone near you.

So what did you come up with? Well, let's have a look at it.

Well, economic growth can mean the following things.

It first means that more workers are needed, and more people can then find jobs and can earn money.

Government then has more money as a result from taxation.

And improvements can then be made to services and infrastructure, such as schools, hospitals, and roads.

Finally, higher incomes.

People then have more money to spend on things they need or want.

And businesses then do better as a result, which also pay tax and tax goes back to the government.

And the government can then use that money to once again make improvements in services such as schools and hospitals.

And perhaps even invest in the economy to try and generate more jobs and more growth to provide jobs and income for people.

Now, the way I just described it made it sound very, very good, but we need to remember something.

First of all, Nigeria's economy is growing.

That is great, but the wealth isn't being shared out equally among the people living there.

And this is causing economic inequality.

And economic inequality is the uneven distribution of income and wealth.

And as Aisha says, people's lives can be unequal in many, many different ways.

My question to you is, can you think of any other types of inequality? You may like to pause the video here whilst you consider your own answer to that question, or perhaps even have a discussion with someone near you.

Well, Jun and Sam are also having a discussion about the very same topic and you now need to decide who is correct in this learning check.

So you can see you've got a statement by Sam and you've got a statement by Jun.

What I need you to do then is now pause the video, read through their statements, and decide who you think is correct.

And the answer is Sam, Sam is correct.

And she said that there are many different inequalities between people's lives.

So what did you think of in terms of what other ways people can be unequal, or show inequality in society? Other inequalities include access to education and healthcare, job opportunities, and access to technology.

And, finally, how people are treated.

So really well done if you were able to identify those two correct answers.

The Gini coefficient is just one way of measuring economic inequality within a country.

It uses a scale from zero to one.

And the closer to zero the value is, the more equal the country is.

Now, on the map in front of you, you can see those Gini coefficient scores mapped.

So we can begin to see which countries are equal and which countries are not so equal.

Now, the darker the colour, the darker the shade of red, as you can see on the map in front of you, the less equal it is.

So how equal is Nigeria? Let's have a zoom in and try to understand that in a bit more detail.

The Gini coefficient for Nigeria is 0.

53.

In the UK, it's 0.

47.

And the world average is 0.

67.

So from that then we can understand that Nigeria is less equal than the UK, but more equal than the world average.

And as Sam says, there is no country in the world where the lives of people are completely equal.

Nigeria's growing economy has generated a huge amount of wealth for some people.

The country is home to thousands of different millionaires and a few billionaires.

In fact, as Luca says, Nigeria's richest person would have to spend $1 million a day for more than 65 years to use up his entire fortune.

But on the other hand, Izzy, as Izzy correctly says, millions of people in Nigeria live in extreme poverty.

This means that they don't have enough money to afford basic human needs, such as food, clothing, or even somewhere to live.

So we're beginning to get a sense that Nigeria really is a country of extremes.

Yes, on the one hand, there are some people with a huge amount of wealth.

But on the other hand, there are millions of people who are living in extreme poverty.

Now, this bar chart in front of you is really interesting.

It's showing how Nigeria's total wealth, so the total amount of money, is shared among its people.

The share of the richest 10% of Nigeria's people is about 60% of Nigeria's total wealth.

Meanwhile, the poorest 50%, the bottom half of Nigeria's population, well, they own only 4% of Nigeria's total wealth.

So you see a huge disparity between the bottom half of Nigeria's population and that top 10% of Nigeria's population.

So a quick learning check, it says, true or false, there is no country in the world that is completely equal? You need to pause the video here whilst you consider and then select your answer.

And the correct answer is true.

Now, once again, I'd like you to pause the video whilst you consider as to why that statement is true.

And the reason it's true is that while although some places are more equal than others, there isn't any country in the world where the lives of people are completely equal.

So really well done if you were able to get those two answers correct.

There are different causes of economic inequality, such as where you live.

Average income per person is lower in the rural, the countryside parts, of Nigeria than in the urban areas, those towns and cities.

There is also a greater proportion of people living in poverty.

What other inequalities might there be between rural and urban areas? I would like you to perhaps pause the video here whilst you consider your answer to that question.

Or better still, even have a discussion with the person next to you.

Let's try to understand that geographic inequality in a little bit more detail, because there are also regional differences in wealth and income.

Average income per person is lower in the north of Nigeria.

These are more rural areas than in the south, which is much more rich because of the cities and the ports which are found there.

Poverty rates in the north are also higher.

One reason for this is that there are more natural resources such as oil in the south of the country, which generates income and jobs for the people living there.

So a quick learning check, it says, who is correct? And you need to select just one answer.

So you can see you've got statements from Andeep, Sam, and Alex.

What you need to do is pause the video here, read their statements, and select what you think is the correct answer.

And the correct answer was, Alex.

Poverty rates are higher in the north of Nigeria where it's much more rural and access to jobs is much, much more scarce in those regions.

So really well done if you were able to select Alex as the correct answer.

There are also other causes of economic inequality.

And these include things such as gender, ethnicity, level of education, age, sexual orientation, and gender identity, ability and, finally, religion.

I would like you to choose one of these causes and think about why it causes inequality.

And if you can, perhaps even have a discussion with someone near you.

So we're on now to our three practise tasks for our final learning cycle.

And it starts with a statement, it says, Nigeria's economic growth has benefited everyone in the country equally.

So the first step is to place a cross on the line representing your opinion.

Do you agree? Do you disagree? And the second step then is to actually state your opinion.

Do you agree, disagree, or partly agree with the statement? And the third and final step is to then justify your opinion and give reasons for why you think this.

So what I need you to do right now then is pause the video here whilst you attempt this practise task, best of luck.

And now for some feedback.

Here is just one possible answer.

Now, remember, your opinion may be very different to mine.

I'm saying that I disagree with this statement.

So I'm saying that Nigeria's economic growth hasn't benefited everyone in the country equally.

So here is my possible answer.

Once again, you may have had something a bit different.

I've said that I disagree with this statement.

Although Nigeria's economic growth has provided benefits, this wealth isn't being shared out equally among the people living there.

Nigeria is home to thousands of millionaires and a few billionaires.

But millions of people live in extreme poverty and are unable to afford basic human needs, such as food, clothing, or somewhere to live.

There are different reasons for economic inequality, such as where you live.

Average income per person in rural Nigeria is lower than in urban areas.

Rates of poverty are higher in the north of Nigeria than in the south.

So really well done if you were able to get anything like that in your own answer.

Time now for our learning summary, and what you need to know from today's lesson.

While Nigeria's economy includes oil, agriculture, and services, many people in Nigeria work in the informal jobs sector.

Nigeria's economy has grown, but this growth hasn't always benefited everyone in the country equally.

There are high levels of economic inequality in Nigeria and many other places in the world.

So really well done during today's lesson, it was a pleasure teaching you.

And I'll see you again on the next lesson, goodbye.