Lesson Notes By Weeks and Term - Senior Secondary 3
Economic reform programmes
Economic reform programmes
Term: 2nd Term
Week: 6
Class: Senior Secondary School 3
Age: 17 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Economics
Topic:- Economic reform programmes
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
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 reviews the previous lesson on Nigeria’s economic challenges |
Students pay attention |
|
STEP 2 EXPLANATION |
She defines economic reforms and discusses some reforms that could take place in Nigeria
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
She discusses the roles of some government agencies in economic reforms
|
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
ECONOMIC REFORMS PROGRAMGGES
Economic Reforms are policies adopted towards achieving improvement in the economy. The policies can either be aimed at reducing the size of the government or privatizing government owned firms. It can also be about re-adjusting tax policy
EXAMPLES OF ECONOMIC REFORM PROGRAMMES
The Consolidation of the Financial Institution as introduced by then Central Bank of Nigeria (CBN) Governor Prof. Charles Soludo 2005 mandated every bank to have a minimum capital base of twenty five billion naira. This led to various merging and acquisition among and between various banks. This drastic [positive] measure has helped to sanitize Nigeria’s banking sector, ultimately making it more effective and efficient such that Nigerian banks can now compete with banks at international level.
Privatization is a situation whereby organizations that are formerly owned by government are sold to private individuals ( e.g. when NEPA was privatized and is now EEDC).
Commercialization can also be defined as making state owned and highly subsidized enterprises more profit-oriented. State owned enterprises are ideally not meant to be overtly profit-minded. But when they are commercialized, it means that they can finally operate as private firms and make profit.
Indigenization can be defined as reducing or eliminating foreign ownership of firms in a country.
Nationalization is the direct opposite of privatization. It is a situation where an organization formerly owned by private individuals is now owned by government.
SOME GOVERNMENT AGENCIES THAT COULD HELP BRING ABOUT ECONOMIC REFORMS
Economic and Financial Crime Commission is an anti graft agency saddled with the responsibility of investigating and prosecuting individuals accused of economic and financial crimes.
Independent Corrupt Practices and other related Offences Commission is a wider anti graft agency responsible for prosecuting charges alleged against individuals which are social, economical and marital in nature.
SON is an agency that ensures standard in locally produced or imported goods. SON has the same responsibility as NAFDAC. The major difference is that whereas theirs is on a larger scale, NAFDAC’s jurisdiction is limited to food and drugs alone. Succinctly put, SON is a government agency saddled with the responsibility of ensuring that all goods locally produced or imported are of acceptable standards before they are sold to final consumers
EVALUATION
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively