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Indigenization Policy: Definition, Aims, Merits & Demerits
Indigenization Policy refers to a deliberate effort/policy of the government to increase the participation of the nationals in the ownership and management of commercial and industrial activities in the country.
Distributive Trade: Definition, Problems & Solutions
Distribution Trade refers to that aspect of commercnal activities which is responsible for the commerct channelling of commodttles from the producers to the ultimate consumers.
Private Limited Company: Definition, Features, Merits & Demerits
Private Limited Company is a form of business organization that is privately owned by a minimum of two and a maximum of fifty members. By its nature of existence, it cannot offer its shares to the public for subscription.
Population Census: Definition, Reasons & Problems
Population census is the counting of statistical data on an entire specific population of a group of people. In this way, its characteristics can be precisely known.
West African Currency Board (WACB) – Features, Merits & Demerits
The West African Currency Board (WACB)
The West African Currency Board (WACB) was founded in November, 1912 following the recommendations of Lord Emmitts Committee which...
Stock Exchange Market: Definition, Functions & Examples
The stock exchange market is a market which deals with the buying and selling of long term financial assets (securities) such as stocks and shares.
Traditional Financial Institutions: Definition, Functions, Pros & Cons
What is Financial Institutions?
Financial institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters...
Central Bank: Definition, Features, Functions & Examples
A Central Bank is a National Government owned apex financial institution which controls and supervises the entire monetary system of a country. It assists, directs and regulates the activities of other financial institutions to make them comply with government monetary and economic policies.
Monopoly: Definition, Types, Features, Causes, Pros & Cons
Monopoly may be defined as a market situation where there is only one producer or supplier of a particular commodity that has no substitute and who has the power to influence the price of the commodity to his own favour. The commodity sold by a monopolist is usually differentiated.
Merchant Banks: Definition, Functions & Examples
A merchant bank is a ‘wholesale bank’ which deals in large sums of money and whose main functions are: issuing of shares and dealing in discounting and acceptance of bills.
Development Banks: Definition, Functions & Examples
A development bank is a financial institution specifically established to provide long-term capital investment in specific productive areas of the economy such as Industry, Agriculture and Commer.
International Trade: Definition, Features, Importance, Merits & Demerits
International trade is the exchange of goods, capital, and services among different countries because there is a need or want of goods or services.
ECOWAS: Features, Structure, Objective & Merits
The ground work for the formation of ECOWAS can be traced to the efforts of the heads of States of Nigeria and Togo in 1972. They had a series of meetings and sent draft proposals to other heads of States of West African countries.
National Debt: Definition, Sources, Pros & Cons
National debt or public debt is the total debt a country owes to its citizens, governments of other countries or international financial organizations like the World Bank and International Monetary Fund (IMF).
The debt which a country owes its citizens is known as internal or domestic debt, while the debt owed to foreign governments or international financial organizations is known as external or foreign debt.
Government Budget: Definition, Features & Problems of National Budget
Government Budget is a detailed statement indicating estimates and sizes of anticipated revenue and proposed expenditures for a period of time, usually a year.
When a government decides to spend more than its revenue, it is said to have a Deficit Budget and when it plans to spend less than its revenue, it is said to operate a Surplus Budget.
Public Finance: Definition, Features & Objectives
Public Finance is an aspect of economics that state how a government gets and spends the revenue it collects. In a more technical sense, it can be defined as that branch of economics that studies the relationship between the revenue and expenditure patterns of the government.
Niger Basin Commission (NBC) | Functions, Aims & Objectives
The River Niger Basin Commission is an inter-governmental organization in the West African subregion that was established in 1964. Its current membership comprises Nigeria, Cameroon, Niger Republic, Benin Republic, the Gambia, Mali and Burkina Faso.
Gas Producing and Exporting Countries (GPEC) – Aims & Objectives
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.
Chad Basin Commission (CBC) – Features, Aims & Objectives
The Chad Basin Commission was established in 1964. It draws its membership from countries bordering it. These are the Chad Republic, Nigeria, Cameroon and Niger Republic.
West African Clearing House (WACH) – Aims & Objectives
West African Clearing House (WACH) is form on July 1, 1976 was largely due to the efforts of the Governors of the Central Banks in West Africa to find a solution to one of the obstacles to trade among West African countries.