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The price of a 50 kg bag of rice has increased from 32,000 Naira (64 US-Dollars) to 48,000 Naira (96 US-Dollars) in the second half of 2022, representing 50% inflation as many Nigerian rice farms have been flooded in October 2022.
Statutorily and administratively, the FIRS has the responsibility for the assessment, collection and accounting of taxes to the Government: [9] The timely provision and publication of accurate data and annual reports to the Federal Government of Nigeria and other stakeholders to inform national economic planning, academic research, tax policy and development legislation [10]
The Nigeria Customs Service says it is investigating a “chaotic situation” that reportedly led to loss of lives at its Lagos office Friday, just as it kicked off the sale of bags of ...
The government imposes a 20 per cent tax on the sellers. A new supply curve emerges. It is shifted upward and pivoted to the left and upwards in comparison to the original supply curve and their distance is always 20 per cent of the original price. In the pre-tax equilibrium the distance equals $5.00 x 0.20 = $1.00.
A farmer and his cow. The majority of herders in African countries are livestock owners. Livestock farming is a part of Nigeria's agriculture system. In 2017, Nigeria had approximately over 80 million poultry farming, 76 million goats, 43.4 million sheep, 18.4 million cattle, 7.5 million pigs, and 1.4 million of its equivalent. [26]
Prices for food items such as rice, beans, fruit and condensed milk have gone up 50 percent in Haiti since late 2007 while the price of fuel has tripled in only two months. [124] Riots broke out in April due to the high prices, and the government had been attempting to restore order by subsidizing a 15 percent reduction in the price of rice. [125]
Naka Benue Nigeria is the headquarters of Gwer West Local Government Area of Benue State, Nigeria.It has been known as the highest producer of Honey and Rice in the state. It has an area of 1,094 km² and a population of 122,145 at the 2006 cens
In 2005, Nigeria posted a US$26 billion trade surplus, corresponding to almost 20% of gross domestic product. In 2005, Nigeria achieved a positive current account balance of US$9.6 billion. The Nigerian currency is the naira (NGN).