Nigeria's economy is almost entirely dependent upon oil exports. The country is one of the largest oil producers in Africa and oil revenues account for a significant portion of Nigeria's GDP and government revenue. This heavy reliance on oil makes the Nigerian economy vulnerable to fluctuations in global oil prices and has been a major factor in economic challenges and instability in the country. However, efforts have been made in recent years to diversify the economy and reduce dependence on oil, with a focus on sectors such as agriculture, manufacturing, and services.
