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    1. A Private Bonded Warehouse is any secure building or place appointed by the Comptroller of Customs by notification to be a private warehouse for the storing and securing of goods without the payment of duties and taxes. Duties and taxes must be subsequently paid via a Customs entry/declaration when there is a request for release of the goods by the importer for home consumption or for export. This type of warehouse is subject to strict Customs controls and restrictions.

      Steps and Procedure fore entering and removing goods in a Private Bonded Warehouse:

      The procedures outlined hereunder deal specifically with the requirements concerning the
      warehousing of goods on the Entry for Warehousing as follows:
      1. Entry for Warehousing is prepared by the importer from invoices and other relevant documents.
      2. This is submitted to the Customs Inventory Audit Unit, Customs House Kingstown for checking, acceptance and signature.
      3. Documents are taken to the Import Station for release of the goods to the Warehouse.
      4. At the Warehouse, the goods are tallied and examined, and an account is taken of the contents of the packages by the warehouse keeper and the Customs Officer.
      5. Each package is marked with the rotation number that is assigned

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    1. The advantage of rescue operation are based on the type of rescue operation.
      For example use of drones in rescue operation has its advantages for example;
      1. High-resolution mapping of any simulated area
      2. Getting the first look or basic assessment of an area – Before sending people there
      3. Thermal cameras – Ideal for locating survivors or people thanks to their thermal (body) heat

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    1. (1) Unseaworthiness

      Neither the carrier nor the ship shall be liable for loss or damage arising or resulting from unseaworthiness unless caused by want of due diligence on the part of the carrier to make the ship seaworthy, and to secure that the ship is properly manned, equipped, and supplied, and to make the holds, refrigerating and cool chambers, and all other parts of the ship in which goods are carried fit and safe for their reception, carriage, and preservation in accordance with the provisions of paragraph (1) of section 1303 of this Appendix. Whenever loss or damage has resulted from unseaworthiness, the burden of proving the exercise of due diligence shall be on the carrier or other persons claiming exemption under this section.

      (2) Uncontrollable causes of loss

      Neither the carrier nor the ship shall be responsible for loss or damage arising or resulting from–

      (a) Act, neglect, or default of the master, mariner, pilot, or the servants of the carrier in the navigation or in the management of the ship;

      (b) Fire, unless caused by the actual fault or privity of the carrier;

      (c) Perils, dangers, and accidents of the sea or other navigable waters;

      (d) Act of God;

      (e) Act of war;

      (f) Act of public enemies;

      (g) Arrest or restraint of princes, rulers, or people, or seizure under legal process;

      (h) Quarantine restrictions;

      (i) Act or omission of the shipper or owner of the goods, his agent or representative;

      (j) Strikes or lockouts or stoppage or restraint of labor from whatever cause, whether partial or general: Provided, That nothing herein contained shall be construed to relieve a carrier from responsibility for the carrier’s own acts;

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  1. why did Jamaica have to enter into a burrowing agreement with the IMF and what example would there be in Jamaica, on the basis of this agreement.

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    1. As reported by the Bank of Jamaica in a 2009 quarterly monetary policy report, Jamaica became a member of the IMF February 21, 1963. Around four months later, Jamaica entered into a one-year Stand-By Arrangement (SBA) with the Fund, which permitted drawings up to a limit of SDR 10 million.

      The agreement, which expired in June 1964, was unutilised, said BOJ.

      In June 1973, Jamaica entered into another borrowing arrangement with the IMF, and had various agreements ranging up to 1996 when it terminated borrowing while still remaining a member of the fund.
      In 2001, Jamaica agreed to a staff-monitored Intensified Surveillance Programme.

      “Jamaica’s borrowing arrangements with the Fund between 1973 and 1996 were largely aimed at correcting balance of payments problems arising from negative economic and financial trends including commodity price shocks (in particular oil), and high inflation,” said the BOJ report.
      “Whereas loans from the IMF are not available to the Govern-ment for project spending or on-lending, it was anticipated that borrowing from the IMF would create a platform for investment inflows which would lead to economic growth and development.”

      It returned to a borrowing arrangement in 2010 under a three-year SBA that faltered during the first year of the agreement. The current External Funding Facility, which succeeds it, will run for four years to 2017 but its targets extend to fiscal yearend 2020.
      **Reference: Jamaica Gleaner

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    1. The parties in the contract of carriage are applicable without regard to the nationality of the ship, the carrier, the actual carrier, the shipper, the consignee or any other interested person.

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    1. Before welding came into wide-scale use in the 1930s, every ship was constructed on the building berth. The keel was laid, floors laid in place, frames or ribs erected, beams hung from the frames, and this skeleton, framed structure was held together by long pieces of wood called ribbands. Plating was then added and all the parts of the structure were rivetted together. In other words, the ship was built from the keel upward.

      The modern method is to construct large parts of the hull, for example, the complete bow and stern. Each of these parts is built up from subassemblies or component parts, which are then welded together to form the complete bow or stern. These sections of the ship are manufactured under cover in large sheds, generally at some distance from the building berth, before being transported to the berth and there fitted into place and welded to the adjacent section. The advantages of this procedure are that work can proceed under cover, unhampered by bad weather, and the units or component parts can be built up in sequences to suit the welding operations—not always possible at the building berth itself.
      As relates to Economics, It leads to economic multiplier.
      The basic logic of an economic multiplier is straightforward. Suppose that the government spends $100 buying a good or service from a
      shipbuilder. The shipbuilder might then be expected to spend at least a
      portion of the $100 on inputs, such as labor or materials. The original
      $100 creates a cascade (i.e., multiples) of spending through the economy. That $100 spent on a shipbuilder results in additional spending
      by shipbuilder workers at local restaurants, which then hire additional
      workers who rent additional housing, and so forth.

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    1. The advantages include;
      faster discharging and loading of cntainers,
      Increased productivity through turnaround of containers,
      better monitoring of the storage of containers,
      Better utilization of terminal resources,
      High level of accuracy of information.

      Some disadvantes include:
      Some programs can be very costly with very little ROI.
      Execution issues when relying on automated alerts.

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    1. A port represents a collection of physical facilities and services designed to serve as an interchange point between land and sea transport. The provision o f the services and the provision and maintenance of the facilities
      create a flow of costs for the port entity. The use o f the facilities and services by the users of the ports creates for them a flow of benefits and it is to obtain these benefits
      that they make use of the port. The port authority, or any other port entity, through its pricing policy, can tap some or all of the flow of benefits and so create a flow of revenue
      for the authority.
      Port Charges are extra taxes and/ or charges which are levied upon ships, or the cargo on the ships which are berthed at a port. The port charge is levied by the government.
      It can be seen as general term covering both port dues and specific port tariffs.
      The revenue to the port authority is that part of the benefit created for cargo owners and shipowners which the port authority can tap. It cannot tap more than the benefits it creates.

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    1. The impossible trinity, also known as the
      “trilemma”, defines a set of economic policies that a country cannot manage together in open economies. It is widely accepted by mainstream (and also most heterodox) academic economists and policy makers. According to this proposition, it is impossible for a country to simultaneously stabilize the nominal exchange rate of its currency and engage in an autonomous monetary policy (to set domestic interest rates any different from foreign interest rates) if capital mobility is perfect.

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  2. what is the main differences of fixed and flexible exchange rates and how do you describe the contemporary currency regimes?

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    1. With flexible exchange rates, the nominal
      exchange rate adjusts to bring the real
      exchange rate into line.
      • With fixed exchange rates, the domestic price level adjusts to bring the real exchange rate into line.
      Fixed exchange rate is determined by the government or the central bank while flexible exchange rate is by demand and supply.
      For Fixed exchange rate, changes in currency price is due to devaluation and revaluation while for flexible exchange rate, it is determined by depreciation and appreciation.

      Currency regimes is the way an authority manages its currency in relation to other currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors, such as economic scale and openness, inflation rate, elasticity of labor market, financial market development, capital mobility and etc
      The two major currency regime include: fixed and flexible regimes.

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    1. Running cost is same as operating cost. The running costs of a business are the amount of money that is regularly spent on things such as salaries, heating, lighting, and rent. As it relates to shipping, they are are calculated as a fixed daily cost. The costs include: (1) crew wages and travel; (2) management fees; (3) hull and machinery and P&I insurance premiums; (4) stores; (5) lubricants; (6) spare parts; (7) maintenance and repairs; (8) survey and certification; and (9) drydocking. The largest cost item in ship management is crew costs

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    1. TRADING BLOC
      A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states. It is a group of countries within a geographical region that protect themselves from imports from non-members. A group of countries who have joined together to promote trade. This might be through relaxing protectionist barriers or even having a common currency. Examples of trading blocs include the EU(European Union), NAFTA( North American Free Trade Agreement) and ASEAN(Association of Southeast Asian Nations)
      Advantages:
      • Firms can enjoy economies of scale, in a trading bloc, firms can produce goods and services with a lower average cost because trading blocs allows firm to have large scale of production
      • Trading blocs brings firms closer to each other and create greater competition, consumers will be benefited with better quality of goods and services in a lower price, they will have more choices
      • Firms within the bloc can enjoy a tariff free environment
      • Countries within the trading bloc can have more international bargaining power

      Disadvantages:
      • unfair against countries out of the Trading Blocs –
      • Groups not within the Blocs have to pay Tariffs in order to transfer goods
      • Countries within the Blocs have to pay higher price to buy goods input from countries out of the Blocs
      • May take over local producers
      • Workers are often exploited by global companies and paid low wages for long hours

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  3. (a) Discuss how human activities have caused climate change.
    (b) Discuss how farming can be made more sustainable to meet population growth.

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    1. It is an imaginary line on the earth’s surface, near the equator, at all points on which there is no magnetic dip, (Also called) aclinic line. magnetic field. n a field of force surrounding a permanent magnet or a moving charged particle, in which another permanent magnet or moving charge experiences a force.

      Gravity and magnetism propagate through different types of particles, according to the standard model. While magnetism travels through photons, gravity propagates through gravitons (these have not been observed). The force charges of these two are based on the magnetic field strength and mass. As such, magnetism can both attract and repulse, while gravity can only attract (gravity is the only force to do this).
      Magnetism is very intricately linked to electricity (think electromagnets). Therefore, the strength of the magnetic pull is based on the strength of the electromagnetic field propagating around the point, while gravity is only based on mass. And because the electromagnetic force is so much greater than the force of gravity, a magnet can potentially overcome the force of gravity.

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  4. (1)write on the history of boxing
    (2)write on boxing in Nigeria
    (3 )list the skills and techniques in boxing
    (4) state the rules and regulations in boxing

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    1. HISTORY OF BOXING
      Boxing, often called “the manly art of self-defense,” is a sport in which two competitors try to hit each other with their glove-encased fists while trying to avoid each other’s blows. The competition is divided into a specified number of rounds, usually 3 minutes long, with 1-minute rest periods between rounds. Although amateur boxing is widespread, professional boxing has flourished on an even grander scale since the early 18th century.

      Boxing originated when a person first lifted a fist against another in play. Different eras of the sport have been distinguished by the use or nonuse of fist coverings. The ancient Greeks believed fist fighting was one of the games played by the gods on Olympus; thus it became part of the Olympic Games in about 688 BC. Homer has a reference to boxing in the Iliad. During Roman times the sport began to thrive on a wide scale. Boxers fought with leather bands around their fists for protection and sometimes wore metal-filled, leather hand coverings called cesti, resulting in bloody, often duel-to-death, battles. Boxing diminished after the fall of Rome. It was revived in the 18th century in England and became especially popular during the championship reign of James Figg, who held the heavyweight title from 1719 through 1730. Boxing became a workingman’s sport during the Industrial Revolution as prizefights attracted participants and spectators from the working class. Organization was minimal at first, and the bouts of those eras resembled street fights more than modern boxing.

      RULES AND REGULATIONS IN BOXING
      Amateur fights consist of 3 rounds. professional fights from 4 to 15 rounds. The recognized length of championship fights is 12 rounds. In most countries, professional boxing is the more popular version, but the rules vary because there is no true governing body. Even in the United States, boxing regulations vary from state to state.
      In all boxing, however, winners are determined either by a decision of the judges (who keep points or round victors on a scorecard as the fight progresses), the referee, or both.
      The winner also may be decided by a knockout, in which one rival is sent to the floor by a punch and cannot get up within 10 seconds. A doctor or referee can declare the boxer injured or defenseless even if there is no knockdown. A tied or even match is ruled a draw.
      SKILLS AND TECHNIQUES IN BOXING.
      The golden rules of boxing footwork
      Good footwork is important to enable the boxer to defend or attack from a balanced position. The golden rules of boxing footwork are as follows:
      Keep the weight balanced on both feet.
      Keep your feet apart as you move to maintain good balance.
      Move around the ring using short sliding steps on the balls of your feet.
      Never let your feet cross.
      Always move the foot closest to the direction in which you want to move first.
      The key to good footwork is speed, and this can be enhanced by improving fitness, with particular attention to the legs. One good activity for improving fitness, used by many boxers, is skipping.
      Punching
      There are four main punches in boxing:
      Jab — a sudden punch.
      Cross — a straight punch.
      Hook — a short side punch.
      Uppercut — a short swinging upward punch.
      The jab (left jab)
      This is the simplest but most-used punch in boxing, and likely to be the first punch any beginner would learn. The jab can be used both for attack or defense, and is useful to keep the opponent at bay to set up bigger blows.
      Hold your left hand up high with your elbow in close to your body.
      Aim for the opponent’s chin with the back knuckles.
      Rotate the arm so that the punch lands with the thumb making a small clockwise turn inwards.
      Slide the left foot forward before impact and snap the hand back ready to deliver another jab.
      The chin should be dropped to the shoulder to protect it, and the right hand held high ready to block any counter punches.
      The cross

      A ‘straight right’
      This is the most powerful and damaging punch, but it may leave the boxer open to a counterattack if it fails to connect. It is best used in a combination of punches, usually after the opponent’s defense has opened up after being hit with a good left jab.
      Drive off the back foot and pivot the hips and shoulders into the punch for maximum power.
      Straighten the right arm so that it is at full stretch on impact.
      Keep the left hand in a guarding position to avoid a counter.
      A ‘straight left’
      This is a good way of keeping an opponent on the back foot.
      From the basic stance simply straighten your left arm and twist your hips and shoulders into the punch.
      The first will automatically twist so the knuckles are up and the palm downwards just before impact.
      If there is room, slide the left foot forward for the blow, but quickly bring up the right foot to maintain balance.
      Hook
      The hook comes from the side so can catch the opponent unaware as it initially comes from out of their vision. The hook requires the boxer to arch and turn their body into a punch. It can be made with either the left or right arm.
      A right hook
      Bring the chin down to the inside of the left shoulder to protect it.
      Pivot the toes, hips and hand in the direction of the punch.
      Turn your hand over so that at the point of impact, the palm faces down.
      Uppercut
      The uppercut can be a great knockout punch and is delivered at close quarters. It comes up from underneath, has an element of surprise, and is usually aimed at the jaw with either hand. One drawback is that if it doesn’t take the opponent out, there is a big chance they will be able to deliver a counterattack.
      To make a right uppercut, transfer the weight onto the right foot and twist the shoulders and hips to the left, bringing the right first directly up into the target.
      Leaning back too much will send the boxer off balance.

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    1. Logistics involves a wide set of activities dedicated to the transformation and distribution of goods, from raw material sourcing to final market distribution as well as the related information flows. Derived from Greek logistikos (to reason logically), the word is polysemic. In the Nineteenth century the military referred to it as the art of combining all means of transport, revictualling and sheltering of troops. In a contemporary setting, it refers to the set of operations required for goods to be made available on markets or to specific locations.
      The application of logistics enables a greater efficiency of movements with an appropriate choice of modes, terminals, routes and scheduling. The implied purpose of logistics is to make available goods, raw materials and commodities, fulfilling four major requirements related to order, delivery, quality and cost fulfillment. Logistics is thus a multidimensional value added activity including production, location, time and control of elements of the supply chain. It thus enables a better managerial level of space-time relations and as such an important aspect of transport geography. Logistics acts as the material and organizational support of globalization requiring a complex set of decisions to be made concerning an array of issues such as the location of suppliers, the transport modes to be used and the timing and sequencing of deliveries.The distinction between logistics and supply chain management can be subject to contention since the terms are often used interchangeably. Previously, logistics tended to focus on transportation and warehousing aspects, while supply chain management would consider sourcing and well as final distribution. In recent years the meaning of both has converged.

      Thus, logistics and supply chain management can be considered as similar and interchangeable terms. Activities comprising logistics include physical distribution; the derived transport segment, and materials management; the induced transport segment.

      Physical distribution is the range of activities involved in the movement of goods from points of production to final points of sale and consumption. It must insure that the mobility requirements of supply chains are entirely met. Physical distribution includes all the functions of movement and handling of goods, particularly transportation services (trucking, freight rail, air freight, inland waterways, marine shipping, and pipelines), transshipment and warehousing services (e.g. consignment, storage, inventory management), trade, wholesale and, in principle, retail. Conventionally, all these activities are assumed to be derived from materials management demands.

      Materials management considers all the activities involved in the manufacturing of commodities in all their stages of production along a supply chain. It includes production and marketing activities such as production planning, demand forecasting, purchasing and inventory management. Materials management must insure that the requirements of supply chains are met by dealing with a wide array of parts for assembly and raw materials, including packaging (for transport and retailing) and, ultimately, recycling and reusing discarded goods and commodities. All these activities are assumed to be inducing physical distribution demands.

      The evolution of supply chain management and the emergence of the logistics industry are mainly characterized by three features:

      Integration. A fundamental restructuring of goods merchandising by establishing integrated supply chains with integrated freight transport demand. According to macro-economic changes, demand-side oriented activities are becoming predominant. While traditional delivery was primarily managed by the supply side, current supply chains are increasingly managed by the demand.

      Time mitigation. Whereas transport was traditionally regarded as a tool for overcoming space, logistics is concerned with mitigating time. Due to the requirements of modern distribution, the issue of time is becoming increasingly important in the management of commodity chains. Time is a major issue for freight shipping as it imposes inventory holding and depreciation costs, which becomes sensitive for tightly integrated supply chains.

      Specialization. This was achieved by shifts towards vertical integration, namely subcontracting and outsourcing, including the logistical function itself. Logistics services are becoming complex and time-sensitive to the point that many firms are now sub-contracting parts of their supply chain management to what can be called third-party logistics providers (3PL; asset based). More recently, a new category of providers, called fourth-party logistics providers (4PL; non asset based) have emerged.

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    1. Members of the committee include Justice Alfa Saliu Belgore(chairman), Senator Udoma Udo Udoma (Vice-chairman), Chief Ebenezer Babatope, Mr. Ledum Mitee, Dr. Abubakar Saddique, Ms. Comfort Obi, Mr. Peter Esele, Prof. Oladipo Afolabi, Prof. Jerry Gana and Tessy Ikimi. Mr. G.O.S. Miri, Ambassador Babagana Kingibe, Ambassador Jibrin Chinade, Alhaji Abubakar Mustapha, Prof. Anya O. Anya, Dr. Chukwuemeka Ezeife, Alhaja Salimot Badru, Hajia Najatu Mohammed, Mr. Ferdinand Agu, Alhaji Wakil Mohammed and Halima Alfa.

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    1. Citizens in a country make up a country.Hence,their role is very vital.They contribute immensely by providing ideas,and even giving in to the ideas the government enforce.
      The role that the citizens play are being good people and helping other people succeed on what they are doing! A citizen’s role is to follow the rules and regulations of the state and live peacefully.
      In a nutshell; the citizen contribute to constitutional development in the following ways;
      1.The citizens vote for representatives. The citizen must be willing and ready to select a representative through voting in an election process.
      2.Contesting to represent people. The citizen can offer to represent his or her constituency, either as a representative or as a member of the constitution drafting committee.
      3.Initiate Memorandum. A citizen can perform through memorandum. A memorandum usually contains ideas related to the problems of the people and suggested solutions to it. It is usually in the form of a booklet.

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    1. The history of the 1999 constitution of nigeria.
      The political history of Nigeria indicates that Nigeria has been ruled by the military for about 30 years in the 46 years of post independence Nigeria. As a result, apart from the 1960 and 1963 constitutions, all other constitutions are products of military rule (1979, 1989 and 1999). The 1999 constitution was promulgated into law as a decree by the Gen. Abdulsalami Abubakar regime. The constitution was approved by the Armed Forces Ruling Council following a report submitted by the Justice Niki Tobi Constitution Debate Coordinating Committee. The committee had only two months to consult Nigerians before presenting a draft to the military for approval. This is why the 1999 Constitution has been criticised by all sectors and shades of opinion in Nigeria as a military imposition. But beyond the process of making the 1999 Constitution which is essentially flawed, the content of the constitution leaves much to be desired and is not suited for deepening of democracy. It does not protect the rights of women adequately. There are no adequate provisions for independence of the electoral and other commissions. It is more unitary that a federal constitution. In response to all these, the executive arm of government, the legislature, civil society, intergovernmental organisations, international organisations and donor agencies have prioritized the reform of the 1999 constitution. There is some level of agreement in areas that need reform in the constitution although there are some contentious issues in the areas of religion, state police, affirmative action etc. However, one issue that has changed the pattern of the reform process is the issue of tenure regarding the agitation by some people for extension of the tenure of President Olusegun Obasanjo beyond the two terms that the constitution allows.
      Section 135 of the 1999 constitution clearly provides tenure of four years for any person elected under the constitution as president and section 137 disqualifies any person who “has been elected to such office at any two previous elections.” There are similar provisions for the office of the Governor in sections 180 and 182 of the 1999 constitutions. The supreme court of Nigeria has settled the matter of two previous elections clearly stating that it has to be two elections under the 1999 constitution. The 1999 elections and 2003 elections were held under the 1999 constitution and anyone elected as President and Governor in 1999 and 2003 are clearly disqualified by the 1999 constitution from contesting the 2007 elections. Therefore, President Obasanjo and Governors elected in 1999 and re-elected in 2003 are disqualified from contesting the 2007 elections.
      B. The features of the 1999 constitution
      Presidential form of government: The president of any country has the veto power (the power to reject any decision made by the Law-making body). He is the commander-in-chief of the armed forces in the country. In Nigeria, the president appoints the ministers that work with him. Every minister is a member of the cabinet. Note that the president can exercise his power directly or through the ministers, vice president or through other officers.
      Separation of powers: The three arms of government provided by the Nigerian government are: the executive, legislative and the judicial arms of government. These three arms of government are equal and independent on each other. Separation of powers is division of powers and functions of the government among the three independent and separate arms of government.
      Federalism: Nigeria is Federal Republic under the Constitution. It is made up of Federal Capital Territory which is Abuja, 36 states and 774 Local Government Areas. It also has six area municipal councils in the Federal Capital Territory.
      The rule of Law: This is the equality of all before the Law. Laws are reasonably justifiable in a democratic society. Rule of Law implies that a country is governed by civil Law or regular Law. That means Laws which are justifiable in a democratic society. It is rule of right and not rule of might.
      Supremacy of the constitution: This implies that the Constitution is supreme above any other rule or Law. If other Laws are inconsistent with the provision of the Constitution, the Constitutional Law shall prevail and the other Laws void.

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    1. The history of electoral bodies in Nigeria dates back to the post-independence era when the Electoral Commission of Nigeria (ECN) was established. This body was responsible for conducting the federal and regional elections of 1964 and 1965 respectively.
      The military coup in 1966 led to the dissolution of the body leading to the establishment of Federal Electoral Commission (FEDECO) in 1978. FEDECO organized and conducted the 1979 and 1983 General Elections. It was dissolved by the military junta of General Mohammadu Buhari in 31st December 1983.
      In 1987, another military junta led by General Ibrahim Babangida established the National Electoral Commission (NEC) with a mandate of overseeing the transition programme put in place by the administration with the aim of returning the country to civilian democratic rule. NEC conducted the general elections into all elective offices which included the presidential, national, state and local government elections in 1993.
      In December 1995 when late General Sani Abacha became Head of State, NEC was dissolved and subsequently replaced by the National Electoral Commission of Nigeria (NECON). NECON conducted the 1996 Local Government and National Assembly Elections. The sudden death of General Abacha 1998 inevitably brought about the death of NECON as is the tradition in the country.
      The Independent National Electoral Commission (INEC) was established by the transitional administration of Abdulsalami Abubakar the same year.

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