The Joint Admissions and Matriculation Board (JAMB) Commerce syllabus for 2025 outlines the topics and objectives that candidates need to study to prepare for the Unified Tertiary Matriculation Examination (UTME). The syllabus covers essential concepts of commerce, trade, business, and other commercial activities. This comprehensive syllabus is designed to ensure candidates have a solid understanding of commerce and its application in real-world business situations.

SECTION A: Commerce and Its Nature

1. Meaning and Scope of Commerce

• Topics:
• Definition of commerce and its scope.
• The relationship between commerce and other related disciplines (e.g., economics, industry).
• Commerce as a bridge between producers and consumers.
• Objectives:
• Understand the definition and scope of commerce.
• Explain the relationship between commerce and production, trade, and consumption.

2. Divisions of Commerce

• Topics:
• Trade (home and foreign trade).
• Aids to trade (banking, insurance, advertising, transportation, warehousing, communication).
• Objectives:
• Define and explain the types of trade and their importance.
• Understand the role of aids to trade in facilitating commerce.

SECTION B: Trade

1. Home Trade

• Topics:
• Retail trade and its functions.
• Wholesale trade and its functions.
• Differences between retail and wholesale trade.
• Objectives:
• Differentiate between retail and wholesale trade.
• Understand the functions and services provided by wholesalers and retailers.

2. Foreign Trade

• Topics:
• Types of foreign trade (import, export, and entrepot).
• Documents used in foreign trade (bill of lading, invoice, letter of credit, etc.).
• Balance of trade and balance of payments.
• Objectives:
• Understand the nature and types of foreign trade.
• Explain the various documents used in foreign trade.
• Differentiate between balance of trade and balance of payments.

SECTION C: Aids to Trade

1. Banking

• Topics:
• Functions of central and commercial banks.
• Types of bank accounts.
• Services provided by banks (e.g., loans, overdrafts, etc.).
• Objectives:
• Explain the roles of central and commercial banks.
• Understand the different types of bank accounts and services offered by banks.

2. Insurance

• Topics:
• Definition and principles of insurance.
• Types of insurance policies (e.g., life, fire, marine, etc.).
• Importance of insurance in business.
• Objectives:
• Understand the principles of insurance and how they apply to commerce.
• Identify the various types of insurance and their importance in business.

3. Advertising

• Topics:
• Types of advertising (informative, persuasive, competitive, etc.).
• Functions of advertising in business.
• Media of advertising (radio, TV, print, digital, etc.).
• Objectives:
• Explain the different types and roles of advertising in promoting business.
• Identify the different media used in advertising.

4. Transportation

• Topics:
• Types of transportation (land, sea, air, pipeline).
• Importance of transportation in commerce.
• Factors affecting the choice of transportation.
• Objectives:
• Understand the types of transportation available and their role in facilitating trade.
• Explain the factors to consider when selecting a mode of transportation for goods.

SECTION D: Business Units and Organization

1. Forms of Business Ownership

• Topics:
• Sole proprietorship, partnership, cooperative societies, and limited liability companies.
• Public enterprises and their characteristics.
• Objectives:
• Differentiate between various forms of business ownership.
• Understand the advantages and disadvantages of each form of ownership.

2. Business Combination

• Topics:
• Types of business combinations (mergers, acquisitions, cartels, etc.).
• Reasons for business combinations.
• Effects of business combinations on the economy.
• Objectives:
• Understand the different types of business combinations and their purposes.
• Explain how business combinations affect competition and the economy.

SECTION E: Business Finance

1. Sources of Business Finance

• Topics:
• Internal and external sources of finance (retained earnings, loans, debentures, equity, etc.).
• Short-term and long-term financing options.
• Objectives:
• Identify various sources of business finance.
• Understand the distinction between short-term and long-term financing.

2. Stock Exchange

• Topics:
• Definition and functions of the stock exchange.
• Securities traded on the stock exchange.
• The role of the stock exchange in raising capital.
• Objectives:
• Understand the functions of the stock exchange.
• Identify the types of securities traded and their importance in business financing.

SECTION F: Trade Associations and Regulatory Agencies

1. Trade Associations

• Topics:
• Meaning and functions of trade associations.
• Examples of trade associations in Nigeria (e.g., Manufacturers Association of Nigeria, Chambers of Commerce).
• Objectives:
• Understand the role of trade associations in promoting business interests.
• Identify key trade associations and their impact on commerce.

2. Regulatory Agencies

• Topics:
• Role of regulatory agencies in business (e.g., Nigerian Ports Authority, Standards Organization of Nigeria).
• The impact of government policies on trade.
• Objectives:
• Explain the role of regulatory agencies in ensuring compliance with business laws.
• Understand how government policies affect trade and commerce.

SECTION G: Business Environment

1. Economic Environment

• Topics:
• Elements of the business environment (economic, social, political, legal).
• Effects of inflation, unemployment, and interest rates on business operations.
• Objectives:
• Understand the components of the business environment.
• Explain how economic factors such as inflation and interest rates influence business decisions.

2. International Trade

• Topics:
• Barriers to international trade (tariffs, quotas, embargoes).
• Trade liberalization and the role of international trade organizations (e.g., WTO, ECOWAS).
• Objectives:
• Understand the concept of trade barriers and how they affect international commerce.
• Discuss the importance of trade liberalization and the role of international organizations.

SECTION H: Business Ethics and Social Responsibility

1. Business Ethics

• Topics:
• Definition and importance of business ethics.
• Ethical issues in business (fair trade, consumer protection, environmental sustainability).
• Objectives:
• Understand the importance of ethics in business operations.
• Identify common ethical issues businesses face and how they address them.

2. Corporate Social Responsibility

• Topics:
• Definition and types of corporate social responsibility (CSR).
• The role of businesses in community development and environmental protection.
• Objectives:
• Explain the concept of CSR and its relevance to business success.
• Discuss the impact of CSR on the community and environment.