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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.

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.

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.

Domestic trade refers to the actions of exchange of goods, both goods and services, between buyers and sellers residing in the same locality, region or nation while International trade is defined as all that economic activity in which people or companies from different countries carry out an exchange of products or services.

National income is the monetary value of all goods and services produced in a country in a year or the totality of income accruable to all factors of production employed in producing goods and services in the year in the country such as wages, salaries, rents, interests and profits. It is equal to NNP - Indirect Business Taxes.

Development Planning can be defined as a systematic or carefully formulated course of actions/policies designed to achieve the developmental goals of society.

The European Economic Community (ECC) now referred to as the Enropean Union (EU) was established in 1958 under the Treaty of Rome of I957. It has a membership of twelve countries at present. The number is likely to grow as the years roll by.

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.

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.

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.

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.

Economic growth is a sustained regular increase in total national income. This regular increase might have been brought about by an increase in the capacity to produce more goods and services.

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.

The value of money (TVM) is the perception attributed to money at a given time taking into account economic circumstances that influence it, such as inflation.

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 College | Features, Advantages and Disadvantages What is an Electoral College? An electoral college is a set of electors who are selected to elect a...