Commercial Activities in Nigeria - SS2 Geography Past Questions and Answers - page 2

Trade is the process of buying and selling things, like products or services, usually in exchange for money or something else of value. It's a way people and businesses get the things they need or want.

Lagos is a major commercial area in Nigeria. It has bustling markets, banks, and a busy port where businesses involved in trade, finance, and shipping are prevalent.

Commercial activities are important because they create jobs, generate income, and help businesses grow. This, in turn, boosts the country's economy and improves the living standards of its people.

Commercialization can benefit businesses by turning ideas into profitable products. Consumers benefit by having access to a wide range of innovative and useful products and services.

Being involved in international trade allows Nigeria to access a larger market, increase revenue, and foster global connections, which can lead to economic growth and cultural exchange.