The New International Economic Order (NIEO)
Posted inEconomics

The New International Economic Order (NIEO)

International economic is concerned with the effects upon economic activities from international differences in productive resources and consumer preferences and the international institutions that affect them.
Nigerian National Petroleum Corporation (NNPC) – Functions & Problems
Posted inEconomics Government & Politics

Nigerian National Petroleum Corporation (NNPC) – Functions & Problems

The Nigerian National Petroleum Corporation (NNPC) was established in 1977 by the NNPC Act No. 33, through the merger of the Nigerian National Oil Company (NNOC) and the then Ministry of Petroleum Resources. The main function of the NNPC was primarily operational while the duty of the Ministry was mainly regulatory. The new body NNPC started to perform both operational as well as regulatory functions.
Balance of Payments: Definition, Example, Problems & Solutions
Posted inEconomics

Balance of Payments: Definition, Example, Problems & Solutions

Balance of payments is a systematic record or summary statement of accounts of all the major economic or trading transactions between a reporting country and the rest of the world, during a specific period, usually one year. Balance of payment is a summary of receipts (income) and payments (expenditure) of a country in the international accounts.