Welcome you all to this new term
Importance of Natural Resources
- Generate income via trade
- Develop Nigeria
- Provide Nigerians with the goods that they want and need.
- Facilitate the growth of factories and industries
- They make products that are produced from them cheaper.
- They create jobs for people.
- They bring in foreign exchange when they are exported.
Over Utilization of Natural Resources
This means using natural resources at a faster rate than necessary, or deplete them at a faster rate than we replenish them.
Dangers of Over Utilization of Natural Resources
- Infrastructural breakdown
- Maintenance problem
Problem of Under Utilization of Natural Resources
- Low income and wages
- Poor industrial development
- Dependence on foreign goods