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Which commodity has brought wealth to Nigeria, leading to an over-dependence upon it for the country’s economic stability?

User John Deev
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Final answer:

Nigeria has become highly dependent on oil and natural gas for its economic stability, but the country's petroleum reserves are being depleted with few new fields in development, raising concerns about future economic stability.

Step-by-step explanation:

The commodity that has brought wealth to Nigeria, leading to an over-dependence upon it for the country’s economic stability, is oil and natural gas. Nigeria has relied heavily on the petroleum industry as its primary source of export revenue. The country's reserves, however, are being depleted, and there is a concern that the wealth generated by the sale of these reserves may diminish over time, which could pose a significant risk to the nation’s economic future. Additionally, few new oil fields are being developed, underscoring the urgency of finding alternative sources of income and diversifying the economy. This situation reflects a broader principle that resources fuel prosperity, but they should not be the only source of economic growth for a country.

User Pullie
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