Why do TNCs like KFC locate in Nigeria?
Nigeria is attractive to many TNCs because of the large market on offer and lower labour costs.
Is Nigeria a LIC or nee?
The industrial structure of Nigeria. According to the World Bank, Nigeria is no longer be classified as a LIC (GNI less than $1,045) it is a Newly Emerging Economy (NEE) with a GNI of $5,360. The economy of Nigeria grew at a massive 7% per year every year for over a decade (2004-2014).
Why are TNCs attracted to Lics?
Transnational companies have the power to choose where to locate their factories. They are attracted to LEDCs due to the large pool of labour, low wages and taxes and fewer restrictions. TNCs bring economic, social and environmental advantages and disadvantages to the host countries.
What is Nigeria’s industrial structure?
The economy of Nigeria is changing, and it is shifting from mainly PRIMARY based economy reliant on farming and extractive industries such as oil and gas, to one which making more money or GDP from manufacturing or secondary industries and more services in the tertiary sector.
Is Ford a TNC?
Ford; a transnational corporation.
What did Shell do in Nigeria?
Oil giant Shell will pay a Nigerian community $111m (£80m) over an oil spill more than 50 years ago. A spokesman said the payment would mark the “full and final settlement” to the Ejama-Ebubu community over a spill during the 1967-70 Biafran War.
Why do people move to cities in LICs?
Pull factors include the chance of a better job, better access to education and services, and a higher standard of living. These factors have contributed to millions of people in LICs moving to cities, creating mass URBANISATION.
Why is Nigeria not industrialized?
Lack of credit/access to credit is one of the factors militating against industrialization in Nigeria. This problem is caused by industrialists, government and financial institutions. Another problem obstacle to industrialization is the overdependence imported machinery.
What are Nigeria’s major industries?
The largest industries which drive the country’s economy and account for the bulk of its annual GDP are its petroleum, tourism, agriculture, and mining industries.
Is Nike a TNC company?
Nike employees Nike sportswear company is a US based TNC. Nike employs about 20000 people around the world. Most of these are employed in product design, marketing and administration in the USA. There are about 500000 working in Asia in companies to which Nike subcontracts most of its manufacturing.