Question

In Nigeria, 80% of the government’s budget is funded by __________.

A.
tariffs on imported goods
B.
taxes on its citizens
C.
profits from oil resources
D.
taxes on corporations doing business in the country

Answer 1

C. Profits from oil resources

Hope I helped! ( Smiles )

Answer 2

C. Profits from oil resources

Step-by-step explanation:

Nigeria has deposits of various ores, but the main one is oil, this mineral resource currently accounts for 20% of Gross Domestic Product, 95% of exports and 80% of national revenue.

The Nigerian economy was based on agricultural production, mainly in the cultivation of cocoa, coffee, peanuts, bananas and palm oil, all for export purposes.

Food production did not keep up with population growth, so the country resorted to imports to meet domestic needs.