Lesson Notes By Weeks and Term - Senior Secondary 2

Commercial activities in Nigeria

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TERM – 2ND TERM

WEEK FOUR

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 5 periods each

Date:

Subject: Geography

Topic: COMMERCIAL ACTIVITIES IN NIGERIA

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Identify major commercial areas in Nigeria
  2. Describe the commercial activities that are associated with these areas
  3. Highlight the contributions of commercial activities to the economy of Nigeria
  4. Appraise the influence of foreign exchange markets on the growth of businesses in Nigeria

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers,

demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The teacher explains commercial activities and identify major commercial areas in Nigeria and the activities associated with these areas.

Individual student identify major commercial areas in Nigeria and describe the commercial activities that are associated with these areas

STEP 2

EXPLANATION

Teacher discusses the contributions of commercial activities to the economy of Nigeria

Students as a whole highlight the contributions of commercial activities toThe economy of Nigeria

STEP 3

DEMONSTRATIO

N

Teacher discusses the  influence of foreign exchange markets on the growth of businesses in Nigeria

Students as a class, appraise the influence of foreign exchange markets (stock exchange market, capital market and foreign exchange market) on the growth of businesses in Nigeria.

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

 

The students

copy the note in

their books

 

NOTE

COMMERCIAL ACTIVITIES IN NIGERIA

Commercial activities refer to the actions and processes involved in the buying and selling of goods and services for profit. These activities encompass a wide range of business transactions, including manufacturing, distribution, retail, and various services. Commercial activities contribute to economic growth by facilitating the exchange of products and services in the marketplace.

Commercial Activities in Major Areas

  1. Lagos Island, Victoria Island, Ikeja, and Apapa (Lagos): These areas are hubs for diverse commercial activities. Lagos Island and Victoria Island host financial institutions, corporate offices, and high-end retail. Ikeja is known for its markets and commercial centers, while Apapa is a major port area facilitating trade and logistics.
  2. Wuse and Central Area (Abuja): Wuse is a bustling commercial district with markets and shopping centers, while the Central Area houses government offices and financial institutions, contributing to economic activities and services.
  3. Port Harcourt (Rivers State): As a major oil and gas hub, Port Harcourt is associated with commercial activities in the energy sector. It also has thriving markets and businesses supporting the region's economy.

Contributions of Commercial Activities to Nigeria's Economy

  1. Job Creation: Commercial activities generate employment opportunities, contributing to the reduction of unemployment rates and improving livelihoods.
  2. Revenue Generation: Taxes and other revenue streams generated from commercial transactions contribute significantly to the government's income, enabling investment in public infrastructure and services.
  3. Foreign Exchange: Trade and commerce, especially in oil and gas, contribute to Nigeria's foreign exchange earnings, supporting the stability of the national currency.
  4. GDP Growth:The diverse commercial activities form a substantial part of Nigeria's Gross Domestic Product (GDP), reflecting the overall economic health and growth of the country.
  5. Infrastructure Development: Commercial centers often attract investments, leading to improved infrastructure development in terms of transportation, utilities, and connectivity.
  6. Diversification: While oil and gas have historically dominated Nigeria's economy, commercial activities in various sectors contribute to economic diversification, reducing dependence on a single industry.

Influence of foreign exchange markets on the growth of businesses in Nigeria

The influence of foreign exchange markets on the growth of businesses in Nigeria is significant and multifaceted:

  1. Facilitating International Trade: This facilitates international trade by enabling businesses to import and export goods and services, fostering global market participation.
  2. Exchange Rate Stability: Fluctuations in exchange rates can directly affect the costs of imported goods and the revenue from exported products.
  3. Foreign Direct Investment (FDI): Stable and predictable foreign exchange markets make Nigeria an attractive destination for foreign investors.
  4. Access to Global Capital Markets: A well-functioning foreign exchange market allows businesses to access global capital markets for financing.
  5. Influence on Inflation Rates: Exchange rate movements can impact inflation rates.
  6. Economic Diversification: A robust foreign exchange market supports economic diversification by encouraging businesses to explore international markets. EVALUATION: 1. What are commercial activities
  7. Mention 5 contributions of commercial to the economy of Nigeria
  8. Give 5 Influences of foreign exchange markets on the growth of businesses in Nigeria

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively