Public Enterprises
This lesson covers the definition of public enterprises and their types. It explains how they are formed, the sources of their capital, and the reasons for government ownership. The advantages and disadvantages of public enterprises are also discussed.
- 08:52 “ownership of public corporations is because the capital needed to establish these organizations is so huge it's a lot such that in the private individuals cannot raise on their own but aside from that there are other rea...”
- 12:04 “satisfy the public but the main aim of the government is to satisfy the public but not to make profit nonetheless the government still makes profit from these corporations. Now the thing is that if the government gets fo...”
- 04:02 “with the ministry and the parliament. Now the establishment of public corporations require huge capital, which an individual or private body might not be able to afford. Like we, like we earlier stated in while defining...”
Public Sector Accounting Overview
This lesson covers the definition of public sector accounting and its importance. It explains the sources of government revenue and classifies expenditures into capital and recurrent. Key concepts and terms related to public sector accounting are also discussed.
- 05:31 “Also of assembly foreign investors, those that want to invest in the country, they will need the records of that particular country. How does revenue come to this government? What are the sources of revenue? And then how...”
- 14:07 “and it's also a source of revenue. Investments and dividends in corporations. The government of a country might decide to invest in organizations. And so when this is done, any form of investment that comes or dividends...”
- 15:38 “It is not solely owned by the federal government. The federal government will need to disbose the funds. Share into three. Part of it to be taken by the federal government itself parts to be given to the state government...”
Types of Warehouses
The lesson covers the definition of warehousing and its role in storing goods. It explains different types of warehouses, including bounded warehouses, and discusses their functions and importance in business. The advantages and disadvantages of warehousing are also listed.
- 07:46 “So, people who are financially capable, when people who are financially buoyant enough to build warehouses, they build warehouses for people to come and store their goods in them. And then, in turn, they pay a service ch...”
- 03:26 “And what if they arrive later at night and all that? So, these bounded warehouse, when goods have been sent from other countries and they finally arrive at the bounded warehouse, these goods might cannot be left on the s...”
Pre-colonial Administration Systems
This lesson covers the systems of government in the Hausa/Fulani, Igbo, and Yoruba societies before colonial rule. It explains the structure of their governments, the roles of different components, and compares the various pre-colonial administrations.
- 01:44 “Now, the kingdom of all your empire was used as a case study. Now, on how they were able to govern the people at that particular time. Now, including the chiefs and the rest of them, and how are they able to put decision...”
- 11:48 “Now, the law already then were not checked. Now, because the law already were not checked by other members, it was only restricted to people, to the people who were among the political units. They were the one that says...”
- 07:10 “Now, these groups that shared political authority included the village elders, the age grids, the also tied to elders, the offer tied to elders, the diviners, etc. Now, these are the people that would their preside or sh...”
Public Opinion
This lesson defines public opinion and discusses its characteristics. It covers the agents involved in the formation of public opinion, methods of measuring it, and its importance in society.
- 14:42 “It makes the government wake up from the Slomber Eve. They have not been working very hard. It brings about, ah, um, um, formulation of policy and taking action that are to-- to the best interest of the majority of the c...”
- 17:49 “Misdirected by governments, a time-- public opinion of people can be misdirected by government. Maybe the masses are saying the price of where we're not pleaded, and you see government are saying, trying to if we can buy...”
- 16:15 “The people, problems, need and desire unknown to the government. One people pull out their mind. The people problem unknown to the government. Checking the SSEs of governments through the method, the government is made t...”
Financial Institutions Overview
This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.
- 18:36 “Stocks and shares are securities purchased by individuals which is an evidence of contributing part of total capital used in running a company. That is, it is the shareholders share of the company. That is why a person w...”
- 19:24 “Issuing houses, insurance companies, development banks, building societies, national provident fund, stock exchange, advantages of capital markets. The following are the advantages of capital markets. Provision of long-t...”
Basic Economic Problems
This lesson covers the basic economic problems faced by society, including scarcity and resource allocation. It explains different economic systems such as capitalism, socialism, and mixed economy, and how they address these problems. The role of market forces in regulating the economy is also discu
- 12:01 “socialism, we have the Soviet Union, the Soviet Union's the long-time country. It used to exist. It was a union of countries. So the Soviet Union was a typical case of socialism. We have Cuba, we have China and Venezuela...”
- 11:15 “private individuals are not allowed to own resources. The resources are owned communally and the government controls those resources. The government owns the resources on behalf of the states, on behalf of the citizens a...”
- 23:06 “government is able to cut those kind of tendencies, the governments are able to prevent because when we have a monopoly, it becomes exploitative, consumers are exploited, workers, labor is exploited, and so on and so for...”
Channels of Distribution
This lesson covers the channels through which goods move from producers to consumers. It explains the roles of wholesalers and retailers, the functions of cooperative societies and government agencies in distribution, and identifies problems in distribution along with possible improvements.
- 15:00 “government are supposed to provide storage facilities so that goods that are produced in large quantities and which are perishable can be stored and so that they are prevented from spoilage, especially agricultural produ...”
- 14:14 “By putting their resources together and giving them self, that's financial capacity to be able to go directly to the producers to get goods in large quantities for their members' consumption. They also aid in marketing m...”
- 13:23 “the financial capacity to buy and pay immediately are given goods on credits. They give advice to members also as regards the product and services they wish to go into or deal in. They also bring products closer to membe...”
Electoral Systems
This lesson covers the definition of electoral systems and lists different types. It explains the characteristics of each system, including independent bodies, periodic elections, and universal adult suffrage, along with their advantages and disadvantages.
- 02:22 “So the body is allowed to conduct this election without any interference from the federal government. Now consultancy, it is important for delimitation of the country into consultancy. We have what we call consultancy. N...”
- 11:42 “So, if the government are weak, does every citizen and does everything necessary for the nation or the citizens to voice out to pour out their mind? First assumption. Propulsion of representation is based on false assump...”
- 10:55 “It is a truly representative government. The system ensure a truly representative government. Now, the system gives room for a full participation of the government towards the masses. It permits free expression, proporti...”
Factors of Production
The lesson covers the concept of production and its types. It explains the factors of production, division of labor, and specialization. The advantages and disadvantages of division of labor and large scale production are also discussed.
- 12:06 “has feelings. You can't use labor anyhow. You have to get labor's consent. Except we are talking about slavery. Labor cannot work without its consent. And even when it works with consent, there are limits. There are agre...”
- 13:42 “for land. So land is all resources that are called naturally. But the ones that are called because they were created by man and going to production process, that is what we refer to as capital. So it can also be defined...”
- 16:05 “of a certain period, the fur that goes into that production process doesn't come out, is used of degenerator, bonds it up. Also raw materials. The raw materials are going into production. They do not come out. The same d...”
Citizenship and Its Types
The lesson covers the definition of citizenship and the process of becoming a citizen. It explains the rights, duties, and obligations of citizens, as well as the differences between citizens and non-citizens. Types of citizenship, including citizenship by birth and descent, are also discussed.
- 16:22 “to the people, giving the people grounds to be able to reach the government, giving people across, being able to express and lay their interests or make known of their interests to the government. Now, we want to look at...”
- 15:36 “and the whole lot of others. Now, I want to look at the state level of government. The state level of government is the second level of government in Nigeria. Nigeria is made up of six states and each state is added by t...”
- 14:49 “the case of Nigeria. The three levels of government and enterprise made up of the executive, the legislative and the judiciary, the executive, legislative and the judiciary isn't so known as the arms or organs of governm...”
Interdependence of Nations
The lesson covers the concept of interdependence among nations and the importance of international interactions. It explains Nigeria's economic, political, and cultural interactions with other countries, as well as the advantages and disadvantages of these interactions.
- 25:45 “like United Nations Organizations, International Monetary Fund, ETC can bring about control of the sovereign of less powerful states as most of these organizations are controlled by big paths. Control of states like all...”
- 24:59 “They contribute to the interfaith in their domestic affairs. And this makes no sense to the hard-won independence of the country, of the developing states. And the one is inferior or poly-produced groups. Interactions am...”
- 14:02 “Non-nation is self-sufficient. No matter how industrialized a nation is, there must be something that a nation or country can need from another country. No matter how developed a country is, there is something that a nat...”
Departmental Accounts
This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as
- 04:03 “For instance, if we purchase items for a particular department solely, the value of the expenses will accrue to that department alone. But there are some expenses that are common to all departments that are incurred on b...”
- 07:15 “occupied by that department. Then it's in a lighting. The basis for allocation is also floor area. For part that is being used by that department, the OSPAR is the suggested basis of allocation. And then deprecation. The...”
- 08:00 “Then selling expenses such as bad debts, discounts, allowed, carried out words advertising will also floor area is also the basis for apportionment. Then salaries and wages, the number of staff employed or the basis givi...”
Government Revenue and Expenditure
This lesson covers the classification of government revenue into revenue receipts and capital receipts. It also explains government expenditure, distinguishing between capital and recurrent expenditure. Students will learn how to prepare statements of revenue and expenditure accounts.
- 10:21 “you should be able to know those items that are capital in nature and those that are recurrent in nature. So now let's look at the items one after the other. 1,001 salaries, 1,002 maintenance of roads and we have the amo...”
- 04:43 “31,750,000, 2.002 fines, 5,325,000, 1.004 repairs of vehicles, 6,735,000, 2.003 statutory allocation, 750,000, 1.005 stationery, 135,000, 1.006 renovation of schools, 230,000, 2.004 interest on fixed deposits accounts, 4...”
- 03:10 “government. You could involve payments of salaries to employees of the government. These expenses are actually charged to consolidate funds. They are not permanent in nature unlike capital expenditure. Like I said, we ha...”
Public Sector Accounting: Revenue and Expenditure
This lesson covers sources of government revenue and explains terms related to public sector accounting. It classifies expenditures into capital and recurrent categories and provides examples for preparing statements of revenue and expenditure.
- 03:19 “something that is done regularly? No. So, it is more capital in nature. Purchase of Motoka is not something that is done regularly. So, it's a capital expenditure. Stationery is something that we do regularly. We use bai...”
- 01:36 “of roads or bridges. Those are more capital in nature. So, you should be able to prepare statements of capital and revenue expenditure. Let's look at this example from a simplified account textbook. The following informa...”
Nigerian Federalism: Historical Overview
The lesson covers the nature and structure of Nigerian federalism from pre-independence to the present. It discusses the evolution of federalism in Nigeria, including key constitutional changes and the division of powers among regions and the central government.
- 17:19 “rather than strict. The powers are separated. We know the organs of governments. I believe by now we shall have known the functions of the organs of government. We have number one, the legislative organ. Number two, we h...”
- 16:31 “All the powers of every organ of every section is being derived in the constitution. Whatever they do, powers of the head of state, powers of the vice president of the federation, the powers of the national assembly and...”
- 10:59 “And that was in 1979. So, then in that 1979, a democratically elected government was constituted or shrewd in Second Republic. Then that's 1979. Oshad in Second Republic was introduced presidential system of government....”