Petroleum and the Nigerian Economy Generix Content - Petroleum and the Nigerian Economy
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"Petroleum and the Nigerian Economy" question number distribution across years
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JAMB questions for "Economics :: Petroleum and the Nigerian Economy"
Q1
A disadvantage of Nigeria's dependence on imported petroleum products is the
A
instability in the demand for the products
B
instability in the supply for the products
C
dominance of multinational firms
D
poor maintainance of the refineries
E
Q2
The percentage contribution of the transport sector is
A
600.0
B
166.7
C
60.0
D
16.7
E
Q3
If the contribution of the oil sector is N3.6 million, what is the contribution of the other sectors?
A
N10.8 million
B
N7.2 million
C
N3.6 million
D
N2.4 million
E
Q4
Activities in the oil and gas industry are classified into
A
oil exploration and distribution
B
refining and marketing of finished products
C
upstream and downstream
D
exploration and drilling
E
Q5
The activities in the oil and gas industry are classified into
A
exploration and transportation
B
upstream and downstream
C
discovery and extraction
D
onshore and offshore
E
Q6
Upstream oil activities involve the
A
refining of crude oil
B
marketing of finished products
C
management of pollution
D
exploration of crude oil
E
Q7
The world market for crude oil refers to the
A
excess crude oil produced in the world
B
difference between the supply of and demand for oil
C
total supply by OPEC members
D
total demand for and supply of crude oil
E
Q8
The term 'oil stock' is used to describe a situation in which
A
the supply of oil exceeds its demand
B
the demand for oil is equal to its supply
C
oil prices have fallen drastically
D
the demand for oil exceeds its supply
E
Q9
the oil-producing areas in Nigeria are agitating for special competition owing mainly to
A
environmental pollution
B
the high level of unemployment
C
constant flooding
D
E
Q10
The distinction between onshore and offshore operations in oil exploration lies in the
A
location of sites
B
output generated
C
size of production
D
techniques of production
E
Q11
The major contribution of the petroleum industry to the Nigerian economy is the
A
generation of revenue for oil companies
B
provision of employment opportunities for communities
C
generation of revenue for government
D
promotion of industries harmony
E
Q12
The downstream activities of oil companies in Nigeria involve
A
management of spillage and pollution
B
refining and distribution
C
prospecting and exploration
D
off-shore drilling
E
Q13
The major role of multi-national companies in the petroleum industry i Nigeria is
A
the establishment of refineries
B
oil marketing and prospecting
C
oil marketing only
D
oil prospecting only
E
Q14
An adverse environment impact of the petroleum industry on the economy is
A
communal riots
B
the vandalisation of oil equipment
C
oil spillage
D
community development
E
Q15
One of the roles of the NNPC in the production and refining of crude oil is to
A
secure maximum government revenue and regulate price
B
protect the local operators in the petroleum industry
C
prevent the smuggling of petroleum products
D
satisfy the domestic consumption of petroleum products
E
Q16
To facilitate the exportation of crude oil from Nigeria, special
A
airstrips were constructed for jets to evacuate the oil
B
roads were built to connect the major oil wells to the ports
C
pipelines were laid to connect the major oil wells to the ports
D
railways lines were constructed to connect major oil wells to the ports
E
Q17
The Nigerian economy is monocultural because government revenue is derived mainly from
A
agriculture
B
crude oil
C
coal
D
manufacturing
E
Q18
The first petroleum exploring company to discover crude petroleum in Nigeria was
A
Mobil
B
Texaco
C
Agip
D
Shell-BP
E
Q19
The petroleum industry in Nigeria is
A
the sole source of the nation's revenue
B
the oldest industry in the country
C
the mainstay of the economy
D
a factor in the decline in the nation's foreign reserves
E
Q20
Crude petroleum is a good example of a
A
lasing asset
B
washing asset
C
synthetic product
D
costless resource
E
Q21
A glut in the world market for crude oil means
A
a fall in crude oil production
B
an excess supply of crude petroleum
C
a higher crude oil price of offered by the buyer
D
a higher crude oil price of demanded by the seller
E
Q22
The main problem of the Organisation of Petroleum Exporting Countries is how to
A
prevent members from violating their quota
B
enhance the quantity of petroleum products
C
compete with the North Sea producers
D
ensure viable crude reserves
E
Q23
The crucial factors which determine the location of petroleum refineries in Nigeria are availability of raw materials and
A
capital
B
political consideration
C
nearness to source of power
D
labour
E
Q24
Petroleum is the mainstay of the Nigeria economy because it emphasizes the use of
A
main foreign exchange earner
B
greatest employer of labour
C
greatest contribution to the growth of agriculture
D
source of high income for its workers
E
Q25
A indigenous company wholly owned by the Federal Government of Nigeria which currently engaged in prospecting for oil is
A
increasing the quantity of money in circulation
B
Peak petroleum Industries Nigeria Limited
C
Nigeria Exploration and Production Company
D
the Nigerian National Petroleum Corporation
E
Q26
The joint ventures operating in the Nigerian oil industry are between
A
the NNPC and independent marketers
B
the NNPC and multinational marketers
C
the achievement of economic stability
D
the deregulation of the economy
E
Q27
A significant effect of the growth of the oil sector in Nigeria has been to
A
increase the rate of unemployment
B
diminish the percentage contribution of the agricultural sector to GNP
C
slow down the pace of industrialization and urbanization
D
retard the rate of economic growth
E
Q28
because most of her crude oil is exported, the foreign exchange earnings and the forward linkage effects Nigeria realizes from her oil production are
A
both high
B
respectively high and low
C
respectively low and high
D
both low
E