Factors that delayed or contributed to the development of commerce in Nigeria, Ghana and West Africa

FACTORS THAT DELAYED THE DEVELOPMENT OF COMMERCE  IN NIGERIA/ WEST AFRICA

1.         Political instability

2.         Low savings

3.         Absence of developed markets

4.         Poor communication system

5.         Illiteracy

6.         Inadequate capital

7.         Low level of technology

8.         Inadequate infrastructural facilities / poor infrastructural facilities

9.         Low National income

FACTORS THAT HAVE CONTRIBUTED TO THE GROWTH OF COMMERCE IN NIGERIA/WEST AFRICA

1.         Development of modern techniques of production

2.         Political stability

3.         Development of financial institutions

4.         Development of efficient means of transportation and communication

5.         Availability of warehousing facilities 

6.         Improvements in aids to trade e.g. Insurance, Advertising etc

7.         Advancement in levels of education / literacy