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When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
The birth rate is 35.2-births/1,000 population and the death rate is 9.6 deaths/1,000 population as of 2017, while the total fertility rate is 5.07 children born/woman. [229] Nigeria's population increased by 57 million from 1990 to 2008, a 60% growth rate in less than two decades. [ 230 ]
In 2016, the black-market exchange rate of the Naira was about 60% above the official rate. The central bank releases about $200 million each week at the official exchange rate. However, some companies cite that budgets now include a 30% "premium" to be paid to central bank officials to get dollars. [157]
As of January 3, 2022, effective state minimum wage rates range from US$7.25 to US$15.00 per hour, with an average of about $12.00 across all minimum wage workers as of 2019. [ 237 ] [ 238 ] [ 239 ] Local government minimum wages exist as well, the highest of which reach to $17.13 per hour.
Steam is a digital distribution service and storefront developed by Valve Corporation.It was launched as a software client in September 2003 to provide game updates automatically for Valve's games and expanded to distributing third-party titles in late 2005.
Corruption may have a direct impact on the firm's effective marginal tax rate. Bribing tax officials can reduce tax payments of the firm if the marginal bribe rate is below the official marginal tax rate. [8] However, in Uganda, bribes have a higher negative impact on firms' activity than taxation.
Enugu's crime rate rose in 2009 as kidnapping and armed robbery rates increased in southeastern Nigeria specifically between September and December. [91] The Enugu State government sought to check the high kidnapping rates by passing a bill in February 2009 that made kidnapping by the use of a weapon a capital offence ; the bill was passed by ...