Posted inEconomics

Joint Stock Company: Definition, Features, Merits & Demerits

A joint stock company or a public limited liability company is that form of business organization in which the liability of the shareholders is limited to the amount of capital they contributed and the unpaid part of the capital allotted to them. It must have a minimum of seven members but no maximum membership is prescribed for it.
Problems of Financial Institutions in Nigeria
Posted inEconomics Finance

Problems of Financial Institutions in Nigeria

Financial Institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters of credit, bills of exchange etc. With the exception of the Central Bank, they make profits by trading in money; that is, through the process of accepting deposits in several ways e.g. offering technical advice etc.
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.