Question Detail

GST 112 Study Session 10: DIASPORIC CULTURE AND NIGERIA’S DEVELOPMENT Objective Question
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Question

The remittances sent home by Nigerians in diaspora are noted to sum up to billions of Naira every year. What economic impact do analysts attribute to this financial stimulus?
Options
A It has led to a decrease in Nigeria's foreign reserves.
B It has primarily funded luxurious lifestyles for family members.
C It has contributed significantly to Nigeria's economic development.
Correct Answer
D It has caused an increase in Nigeria's external debt.
Correct Answer

Option C is the correct answer.

Detailed Explanation

Monies sent by Nigerians in diaspora sum up to billions of Naira every year and economic analysts state that such financial stimulus has contributed to Nigeria's economic development, especially in the past three decades.

Hint

The text explicitly states the positive economic outcome of these remittances.

Question Info

Course: GST 112
Topic: Study Session 10: DIASPORIC CULTURE AND NIGERIA’S DEVELOPMENT
Type: Objective
Difficulty: Not specified
Question 492 of 1270
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