As the Prime Minister of England, I am addressing you the King of England on this new proposal. Myself and other members of Parliament propose to you that we acquire seven countries in the region of Africa. The countries include Niger, Nigeria, Uganda, Liberia, Burkina Faso, Equatorial Guinea, and Senegal . The proposed countries will not only bring in a great deal of money, but many natural resources like gold and oil are found in these nations. Our country will be able to use the oil to power many of the military weaponry.
Niger is the first country on the list. Although it is a small country, Niger has many resources to offer. For example, uranium is Niger biggest natural resource. Overall they are the are the fourth largest uranium producer
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Nigeria’s major natural resource is oil, and are the world’s eleventh largest producer of oil. This nation mines 912.5 millions barrels of oil annually. Oil currently sells for $49 per barrel and extraction cost is about $31, totaling $18 per ton . After calculating all fees, the total company profit is $16.4 billion dollars. If we charge a 10% rate on total oil mined every year, we are left with a profit of $1.64 billion dollars. A major agricultural crop of Nigeria is the cocoa plant, leading as the world’s fourth largest producer of cocoa. Nigeria grows 380 thousand tons every year. Cocoa plants are selling for $2400 per ton with growing costs of $1800, leaving a total profit of $600 a ton. After subtracting the growing cost, the total revenue is $228 million. With that being said, if we charge a 15% tax rate on yearly cocoa profits, it profits us with a whopping $34.2 million. From Nigeria we earn an annual profit of $1.67 billion off of just two …show more content…
For example, Liberia produces 15 thousand ounces of gold annually. Gold is currently trading at $1,251 per ounce and the mining cost is at $300 for every ounce. The total company profit after mining expenses totals at $14.2 million. Additionally if the U.K. charges a 12% tax on total gold mined per year, we will generate a total of $1.7 million per year. Another ore found in Liberia is diamond, over 73 thousand carats of diamonds are mined every year. Diamonds are selling at $5,000 for every carat, and it cost $200 to produce, leaving a $4800 profit per carat. So multiplying the 73 thousand carats by the $4800 gives the company a profit of $350.4 million. If we charge a 12% rate on the total diamond produced per year, we will earn $42 million. Total generated profit from Liberia is $4.37 million for every annual
An Oxford University graduate, Jonathan Swift, in his article, A Modest Proposal, proposes a solution to Irelands growing poverty in the 18th century by proposing the selling and eating of innocent babies. Swift’s purpose is to state the benefits that the poor would gain from selling their one year old children to the wealthy to eat them. He takes on a concerning tone in order to convince the people of Ireland to consider and adopts his obscene plan.
There are two solutions that provide the optimal profit given the current constraints under which JP Molasses operates. Under these conditions, the optimal profit is $63,571. This profit margin is achieved in both cases with revenue of $942,354 and cost of $412,333 for material purchased and $466,450 for fixed and variable costs in processing, for total cost of $878,783.
oil in Nigeria. Nigeria’s large supply of high quality crude oil helped Shell climb to the top,
A Modest Proposal, written by Jonathan Swift, proposes both an outrageous idea and real solutions for helping Ireland manage their overpopulated country and eliminate poverty in 1729. Swift incorporates this idea to capture the attention of the people in Ireland and England, and prove to them they need to take action. He adopts a serious yet sarcastic tone in order to convince the citizens and readers their country needs change.
We know that it was going to be expensive to produce the product but we are confident that no matter the cost of production, our sales would greatly succeed the cost. The cost of producing a 5 oz. can was about 75 to 80 cents if they can produce 100,000 per month. If we were to produce 50,000 cans per month, that cost would rise by 5 to 10 cents per can. A 10 oz. can would cost about 25% more than a 5 oz. can would to produce. With those numbers, 100,000 5 oz. cans would cost us about $900,000-$960,000 per year to produce. 50,000 5 oz. cans would cost us $750,000. 100,000 10 oz. cans would cost us $1.125M-$1.2M a year...
Nigerian Breweries is the most funded quoted company on the Nigerian Stock Exchange (NSE), it is also the first Nigerian company in any sector to declare N12 billion in Polybutylene terephthalate (PBT) and the first company in Nigerian history to declare a dividend of N8 billion
Mail and Guardian (2013)Nigeria’s dangote uses $3.3bn loan to build Africa’s biggest oil refinery .6:23.Available at: http://mg.co.za/article/2013-09-05-dangote-33bn-refinery-to-turn-nigeria-into-oil-exporter [Accessed: 5 September 2013]
The largest petroleum-producing nation in Africa is Nigeria. The petroleum company is the main contributing factor of the GDP in the West African nation, which is also the continents, most noticeable and populous reserves. Since Nigeria was under British control it has suffered socio-economic and political adversities for decades. Corrupt domestic militias and complicity of multinational corporations have rid the nation of its natural resources. The same corporations that are ridding the land and exploring the resources have hypocritically identified Nigeria as a major concern with regard to human rights and environmental degradation. The petroleum business in Nigeria dynamically impacts its economy so much that “oil and gas exports accounted for more than 98% of export earnings and about 83% of federal government revenue, as well as generating more than 40% of its GDP.” Just to be reminiscent on this fact, the petroleum business accounts for almost the entire exporting business of a country so it raises the question of, where is the income going and how is it bring redistributed?
Nigeria 's economy dominated by oil . 16 Jan. 2002 . BBC news. 22 Apr. 2005 .
If the company follow this recommendations, it will obtain a profit of $ 531,000 that represents $180,000 more than with seasonal production
Before the pre oil-boom period (before 1968), Nigeria was the leading World Exporter of palm oil. Her country producing about 34.14 % and was followed by Indonesia, Congo and Malaysia which were producing about 23.82 %, 19.15 % and 14.36 % respectively (Kibly, 1968; Commonwealth Economic Committee (CEC), 1966). However, in recent statistics, Nigeria has lost this position where its currently producing about 1 % and still struggling to maintain the domestic consumption as oppose Indonesia and Malaysia that were formerly below it that are now exporting 48.03 % and 41.40 % respectively (Food and Agriculture Organization of the United Nations Statistics (FAOSTAT), 2013; United State Department of Agriculture (USDA), 2014; GPOC, 2015).
Throughout the centuries Africa has been a continent of agricultural achievement and plenty. Agrarian practices and technologies developed in Africa were emulated by the world’s great civilizations and radiated to every corner of the world. It’s speculated by many naturalist (most notably Charles R. Darwin) that modern agriculture originated in Africa. Ancient cave paintings discovered by archeologist in Africa are certainly some of the earliest evidences of plant and animal domestication. Arabic and European historical accounts agree that African diets were varied and abundant from the beginning of recorded history up until the middle ages. The African continent is rich with natural and intellectual resources. Northern Africa has rich oil deposits that, once discovered, have made billions of dollars. Sub-Sahara Africa is rich with deposits of precious minerals such as gold and diamonds. Throughout much of history Africa has been thought of as a rich land. But the Africa we know today as being plagued by famine, poverty and war came about at a much later date. These tragic circumstances could have been partly caused by the massive economic dislocation caused by the slave trade and colonization of the 19th and 20th century (Hopkins 13). Colonial powers representing outside interest setup “extractive institutions” across Africa. These “Extractive Institutions” refer to those entities that exist for the sole purpose of pull resources out of a country. Now that many of the colonialist powers have left, these “European-style institutions” still exist well into the turn of the century.
... effort to repair its economy, President Goodluck Jonathan took away the country’s fuel subsidy, this caused very high rate of inflation in Nigeria and he was forced to give the subsidy back (CITATION). Nigeria produce s two million barrels of crude oil a day, but because of poor management and corruption, Nigeria exports most of the crude oil and imports gas (CITATION). The mis-management by the government has caused a lot of trouble for the Nigerian as they are not given the benefits of the resources produced in the country, instead all the benefits are used by the small elite who work with the government or has some kind of ties with them. There was a case when the Governor of Nigerian central bank raised his voice regarding the missing $20 Billion and he was fired on the basis of mis-conduct and was not allowed to appeal his case in high court (CITATION).
Our organization encourages the Nigerian government to reduce its reliance on oil revenue, therefore diversifying the Nigerian economy. Today oil accounts for 80% of government revenue in Nigeria, although oil accounts for only 15% of the GDP. Our organization plans to work with Nigerian authorities to make agriculture their first economic priority. The Nigerian government must understand the importance of agricultural development in sustaining large growing populations. Therefore, in order to facilitate self-sufficiency Akinwumi Adesina, Nigeria’s agriculture minister, said last year, “In Nigeria, we’re making agriculture the new oil.”(Adesina, 2014) by developing agriculture in Nigeria the economy will diversify reducing the impact of oil supply and demand on the economy. Further increasing Nigeria’s ability to develop sustainable agricultural production reducing dependency on imported agricultural
... largest in the world. In 1987, crude oil reserves totalled 16 billion barrels. Nigeria is a member of OPEC (the Organization of Petroleum Exporting Countries. Nigeria also has vast largely unexplored natural gas reserves, the world's fifth largest. Dozens of European and American businesses are currently exploring joint venture businesses in gas production. But Nigerians themselves now realize the danger of over-dependence on the oil sector. In the past few years, deliberate attempts have been made to concentrate on agriculture and encourage manufacturing. Various schemes have been established to assist farmers at every level, resulting in impressive cutbacks in Nigeria's food import bills while changes in Nigeria's industrial policy are encouraging foreign participation in manufacturing.