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Gas Producing and Exporting Countries (GPEC) was founded by 14 countries Algeria, Brunei, Egypt, United Arab Emirates, Iran, Lybia, Qatar, Trinidad and Tobago, Venezuela, Indonesia, Malaysia, Oman, Russia and Nigeria.

The International Monetary Fund (IMF) was established in 1944. Its financial resources stem mainly from quota subscriptions which are assigned to each member according to its relative size in the world economy. A member’s quota also determines its voting power as well as its access to IMF financing.

OPEC was established in Baghdad, Iraq in September 1960. Like many other international organizations, OPEC was formed by a few founding members, namely, Iran, Iraq, Kuwait, Saudi Arabia and Venezeula. In the 1960s, five more countries became members: Qatar (1961), Indonesia (1962), Libya (1962), Abu Dhabi (1967) and Algeria (1969). In 1974, the United Arab Emirates of which Abu Dhabi was the dominant member took Abu Dhabi’s place.

A centrally planned economy is an economic system in which economic decisions are made by the government of a country through a central economic planning bureau. It is also called a command economy and is associated with a socialist or communist economic system.

Solid minerals are naturally occuring substances derived from the earth which are of great value to man. They include metalic ores, fuel minerals (such as coal. uranium, signet, tar sands), industrial minerals and rocks (such as limestones, marble, etc.) and gemstones/ornamental stones.

In mixed economic system, decisions regarding what, how and for whom to produce are partly handled by the state and partly by the individuals and private organizations.

What is Free Enterprise System? Free enterprises system is an economic system that believes in the efficacy of the interplay of market forces of demand...

Capitalism may be defined as an economic system in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at a minimum while Socialism is an economic system where the state takes the major economic decisions through detailed planning. Countries that adopt this system do not believe in the efficacy of market forces.

According to Professor Robbins, Economics may be defined as “a Science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."

Basic Problems of Economics | Scarcity and choice are the cardinal problems faced by economists and the society at large. The study of economics is necessitated by scarcity and the problem created by scarcity has led to choice.

Opportunity cost means the alternative foregone or sacrifice made in order to satisfy another want. It refers to the need that is left unsatisfied in order to satisfy another more pressing need.

The Millennium Development Goals refer to a set of fundamental goals set by the United Nations in 2000 which all member states of the United Nations and, particularly developing countries, are required to achieve within a period of fifteen years.

Why Study Economics? - The study of economics assists individuals to be independent and be practical individuals. This is possible through the application of practical approaches to emerging issues and providing solutions to deny problems.

The United Nations or UN, also called the United Nations Organization (UNO), is the largest and most important international organization on the planet. Most of the world's recognized nations ascribe to it.

Nigeria became a member of the Non-Aligned Movement at the independence in 1960. The tone for Nigeria’s non-alignment policy was laid by Prime Minister Abubakar Tafawa Balewa in a speech he made at the House of Representatives on 7th October 1960, six days after Nigeria’s independence.

Africa as the “centrepiece” of Nigeria’s foreign policy means that Africa is the focus of Nigeria’s foreign policy. In other words, this policy orientation implies that the country places a high premium on issues relating to African affairs in her foreign policy.

The Nigerian foreign policy is profoundly affected or influenced by the perceptions, attitudes and value preferences of the various participants in the decision-making process. In other words, a nation’s international behaviour is, to a great extent, determined by the interests of those making and implementing foreign policies.

Foreign policy is a decision directed by a government to the governments of other states. It is a policy that is meant to influence other states in the international political system. Although foreign policy is an extension of domestic policy, it isformulated to affect other countries.

Globalization is a phenomenon based on the continuous increase in the interconnection between the different nations of the world on the economic, political, social and technological levels. The use of this term has been used since the 80s. That is, since technological advances have facilitated and accelerated international commercial and financial transactions. And for this reason, the phenomenon has as many defenders - such as the International Monetary Fund (IMF) or the World Bank - as detractors.

Electoral Malpractices is the manifestation of all forms of electoral misconducts, capable of derailing the electoral process. Therefore, Election malpractice and rigging could be reduced if the following steps were taken.