The development of commercial activities in Nigeria was facilitated largely by

The question is asking what factor played a major role in the development of commercial activities in Nigeria. The options are:

Option A: a good transport system

Option B: the indigenization decree

Option C: a convenient medium of exchange (Correct)

Option D: a high level of production

To answer this question, we need to understand what commercial activities are and how they are developed. Commercial activities refer to the buying and selling of goods and services for profit. In order for these activities to thrive, certain conditions need to be in place.

Option A suggests that a good transport system is the main factor that facilitated the development of commercial activities in Nigeria. This means that having a well-functioning transportation system, such as roads, railways, and ports, would make it easier for goods to be transported from one place to another. While a good transport system is important for facilitating trade, it may not be the main factor that contributed to the development of commercial activities in Nigeria.

Option B suggests that the indigenization decree played a major role in the development of commercial activities in Nigeria. The indigenization decree was a policy implemented in Nigeria in the 1970s that aimed to transfer ownership and control of certain industries from foreign companies to Nigerian citizens. While this policy may have had an impact on the development of commercial activities, it may not be the main factor.

Option C suggests that a convenient medium of exchange is the main factor that facilitated the development of commercial activities in Nigeria. A medium of exchange refers to something that is widely accepted as payment for goods and services. In Nigeria, the Nigerian Naira is the official currency and serves as the medium of exchange. Having a convenient medium of exchange, such as a stable and widely accepted currency, is crucial for conducting business transactions. Therefore, option C is the correct answer.

Option D suggests that a high level of production is the main factor that facilitated the development of commercial activities in Nigeria. While production is important for economic growth, it is not the sole factor that determines the development of commercial activities. Other factors, such as market demand, access to resources, and a conducive business environment, also play a significant role.

In conclusion, the main factor that facilitated the development of commercial activities in Nigeria is having a convenient medium of exchange, which refers to a stable and widely accepted currency like the Nigerian Naira. This allows for smooth transactions and encourages business activities.