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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). As of June 2006, the exchange rate was about US$1=NGN128.4. As of June 2019, it stands at US$1 =NGN357.
The Commission was established by the Federal Competition and Consumer Protection Act (FCCPA) 2018. among others, develop and promote fair, efficient and competitive markets in the Nigerian economy, facilitate access by all citizens to safe products, and secure the protection of rights for all consumers in Nigeria.
05.4 Glassware, tableware and household utensils 05.5 Tools and equipment for house and garden 05.6 Goods and services for routine household maintenance 06 Health 06.1 Medicines and health products 06.2 Outpatient care services 06.3 Inpatient care services 06.4 Other health services 07 Transport 07.1 Purchase of vehicles
Economists and marketers use the Search, Experience, Credence (SEC) classification of goods and services, which is based on the ease or difficulty with which consumers can evaluate or obtain information. These days most economics and marketers treat the three classes of goods as a continuum. Archetypal goods are: [1] [2] [3] [4]
Product classification or product taxonomy is a type of economic taxonomy which organizes products for a variety of purposes. However, not only products can be referred to in a standardized way but also sales practices in form of the “Incoterms” and industries can be classified into categories. [1] Some standard product classifications include:
Chi Limited, incorporated in 1980, is a fast-moving consumer goods company that provides consumer products in the dairy, beverages, and snacks sectors. The company's headquarters are in Lagos, Nigeria, and it is primarily owned by The Coca-Cola Company. [2] Chi Limited's major manufacturing facility is located in Lagos. [3]
Businesses that produce household goods are categorized as Cyclical Consumer Products by the Thomson Reuters Business Classification and are organized into three sub-categories: Consumer Electronics, Appliances, tools and housewares; Home Furnishings (such as furniture)
Nigeria is a federal republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. As of 2015 Nigeria has the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively.