JAMB Syllabus for Commerce 2026

1. Commerce 

(i) Meaning of ecommerce/ ebusiness 

(ii) Meaning and scope 

(iii) Characteristics 

(iv) Functions 

Candidates should be able to: 

(i) Identify the functions of ecommerce/ ebusiness

(ii) differentiate between Commerce and other related subjects;

(iii) describe the characteristics of Commerce;

(iv) Identify the functions of Commerce. 

2. Occupation 

(i) Meaning and importance 

(ii) Types (industrial, commercial and services) 

(iii) Factors that determine choice of occupation 

Candidates should be able to: 

(i) State the importance of occupation;

(ii) Compare the different types of occupation;

(iii) Identify the factors determining the choice of occupation. 

3. Production 

(i) Factors, characteristics and rewards (land, labour, capital and entrepreneur) 

(ii) Division of Labour and specialisation 

(iii) Types (primary, secondary and tertiary)

(iv) Relationship between production, specialisation and exchange. 

Candidates should be able to: 

(i) identify the Factors of Production and their rewards;

(ii) distinguish between Division of Labour and Specialisation;

(iii) classify the types of production.

(iv) State the relationship between production, specialisation and exchange.

4. Trade 

a. Home Trade 

(i) Retail trade:Types of retail trade, Functions of retailers, Factors to be considered in setting up retail trade, Trends in retailing (branding, self service, vending machines, the use of luncheon, fuel vouchers, etc), Advantages and disadvantages of retailers, Reasons for success/failure of retail trade

(ii) Wholesale trade: Types of wholesalers (merchant, agent, general, etc), Channels of distribution, Functions of wholesalers, Advantages and disadvantages of wholesalers

b. Foreign trade

(i) Types of foreign trade

(ii) Basic issues in foreign trade (balance of trade, balance of payments and counter trade)

(iii) Procedures and documents used in export, import and entrepôt trade

(iv) Barriers to international trade

(v) Tariffs and reasons for the imposition

(vi) Tools for trade restriction and export promotion

(vii) Role of Customs and Excise Authority, Ports Authority, etc. in foreign trade

Candidates should be able to: 

(i) compare the various types of retail trade

(ii) identify the functions of retailers;

(iii) highlight the factors in setting up retail 
trade;

(iv) classify modern retailing practices;

(v) identify the advantages and disadvantages of retail business;

(vi) explain the success/failure of retail trade

(vii) classify the types of wholesalers;

(viii) identify the channels of distribution

(ix) discuss the functions of wholesalers;

(x) outline the merits and demerits of the middleman;

(xi) compare the various types of foreign trade

(xii) analyse the basic issues in foreign trade;

(xiii) explain the procedures and documents used in foreign trade;

(xiv) identify the barriers to international trade;

(xv) state the various tariffs and reasons for their imposition

(xvi) identify the tools for trade restriction and export promotion

(xvii) appraise the role of government agencies in foreign trade.

5. Purchase and Sale of Goods

(i) Procedure and documentation (enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of  lading, certificate of origin, consignment note, etc.)

(ii) Terms of trade (trade discount, quantity discount, cash discount, warranties, C.O.D.,C.I.F., F.O.B., and E.O.E. etc)

(iii) Terms of payments

a. Cash: Spot/Prompt payment

b. Credit; Meaning,Types and functions, Merits and demerits

(iv) Means of payments; Legal tender (bank notes and coins), cheques, standing order, bank draft, stamps, postal orders, money orders, bills of exchange, promissory note, mail, transfer, traveler’s cheques, telegraphic transfer, epayment, recharge card.

Candidates should be able to: 

(i) examine the procedures and documents used in the purchase and sale of goods;

(ii) determine the terms of trade;

(iii) distinguish between cash and credit forms of payment;

(iv) explain the meaning and types of credit;

(v) analyse the merits and demerits of credit transactions.

(vi) Identify the means of payment

6. Aids to trade

a. Advertising: 

(i) Meaning and roles 

(ii) Types, media and methods 

(iii) Advantages and disadvantages

b. Banking:

(i) Types of bank

(ii) Services

(iii) Challenges

(iv) E banking

c. Communication:

(i) Process and procedure

(ii) Types

(iii) Trends

(iv) Merits and demerits

(v) Barriers

d. Insurance:

(i) Types

(ii) Principles

(iii) Terms

(iv) Importance

(v) Types of risk

e. Tourism:

(i) Meaning and forms

(ii) Importance  

Candidates should be able to: 

(i) Explain the meaning and role of advertising

(ii) identify the different types of  advertising, its media and methods

(iii) analyse the advantages and disadvantages of advertising;

7. Business Units

(i) Forms and features (Sole Proprietorship, Partnership, Limited Liability Companies, Public Corporations, Cooperative Societies, etc.)

ii) Registration of businesses

(iii) Determination of choice of business units

(iv) Dissolution and liquidation

(v) Merits and demerits

(vi) Reasons for government ownership of public enterprises  

 Candidates should be able to: 

(i) identify the forms and features of business units;

(ii) analyse the procedures for registering businesses;

(iii) examine the factors which determine the choice of business units;

(iv) differentiate between dissolution and liquidation of business;

(v) state the merits and demerits of business units.

(vi) State the reasons for government ownership of public enterprises

8. Financing Business

(i) Sources of finance (personal savings, sale of shares and bonds, loans, debentures, mortgage, bank overdraft, ploughing back of profit, credit purchase, leasing, etc.)

(ii) Types of capital (share capital, capital owned, authorised capital, issued capital, called up capital, paid up capital, liquid capital, working capital and owners’ equity)

(iii) Calculation of forms of capital, profits (gross and net) and turnover

(iv) Problems of sourcing finance

(v) The role of Bureau de change in an economy

Candidates should be able to: 

(i) identify the various ways of financing a business;

(ii) discuss the different types of capital

(iii) compute the different forms of capital, profits and turnover;

(iv) appraise the problems associated with sourcing finances for business;

(v) assess the role of Bureau de change in an economy. 

9. Trade Associations

(i) Objectives and functions of trade and manufacturer’s associations (Cocoa Farmers’ Association, Garri Sellers’ Association, Poultry Farmers’ Association, etc.) 

(ii) Objectives and functions of Chambers of Commerce. 

(iii) Forms of business combination/merger 

Candidates should be able to: 

(i) discuss the objectives and functions of trade and manufacturer’s associations;

(ii) list the objectives and functions of Chambers of Commerce.

(iii) Explain the different forms of business combination/merger 

10. Money 

(i) Evolution

(ii) Forms and qualities

(iii) Functions

Candidates should be able to: 

(i) discuss the origin of money;

(ii) analyse the forms and qualities of money;

(iii) appraise the functions of money. 

11. Stock Exchange 

(i) Importance and functions

(ii) Types of securities (stocks, shares, bonds, debentures, etc)

(iii) Procedure of transactions and speculations

(iv) Second Tier Securities Market, (listing requirements, types of companies for the market, advantages and operating regulations of the market.)

Candidates should be able to: 

(i) state the importance and functions of the Stock Exchange;

(ii) identify the different securities traded on the Stock Exchange;

(iii) analyse the procedure of transactions and speculations on the Stock Exchange;

(iv) appraise the advantages and operating regulations of the market. 

12. Elements of Business Management 

(i) Functions (planning, organising, staffing, coordinating, motivating, communicating, controlling etc.)

(ii) Principles (span of control, unity of command, delegation of authority, etc.)

(iii) Organisational structure (line, line and staff, functional, matrix and committee)

Candidates should be able to: 

(i) appraise the functions of management;

(ii) analyse the principles of management;

(iii) identify organisational structures;

(iv) assess the functional areas of business;

(v) examine the business resources.

13. Business Environment and Social Responsibility

(i) Legal, political, economic, social, cultural, technological environments, etc

(ii) Safe products, philanthropic and societal consideration

(iii) Types and implication of pollution (water, air, land, etc.)

Candidates should be able to: 

(i) discuss the types of business environment;

(ii) assess the role of social environment in the provision of safe products;

(iii) identify the different types of pollution and their implications on businesses.