Answer:
Nigeria's economy is primarily dependent upon oil exports, but efforts are being made to diversify and reduce this dependence on a single commodity.
Step-by-step explanation:
Oil is a crucial component of Nigeria's economy, accounting for a significant portion of the country's revenue and foreign exchange earnings. Nigeria is one of the largest oil producers in Africa and ranks among the top oil-exporting countries globally. oil exports play a vital role in supporting various sectors of Nigeria's economy, including government budgets, infrastructure development, and social programs. Additionally, oil exports attract foreign direct investment and contribute to employment opportunities.