COMMERCIAL ACTIVITIES IN NIGERIA
CONTENT
- Major Commercial Activities
- Major Commercial Areas in Nigeria
- Importance of Commercial Activities in Nigeria
Major Commercial Activities
1. Trade
Meaning of Trade
Trade can be defined as the act of buying and selling or exchange of goods and services between one country and another and within the country. Trade in Nigeria therefore involves the buying and selling or exchange of goods and services between one region of Nigeria and another or between Nigeria and other countries.
Types of Trade
There are two types of trade: internal and external/international trade.
(a) Internal Trade:
This is the trade that takes place within the boundaries of a country. In Nigeria, three types of internal trade can be recognised:
(i) Local Trade:
Local trade takes place within the rural areas on specific market days. The items sold and bought from the market are usually agricultural products.
(ii) Regional Trade:
This trade takes place within a region. It takes place within towns as well as the larger village markets
(iii) Inter-regional Trade:
This is the type of internal trades that takes place between region e.g.
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