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Oil-producing countries did not realize that the companies were adjusting oil prices until the cost of oil dropped in the late 1950s and companies started reducing posted prices very frequently. The main reason for the reduction in oil prices was the change in the world's energy situation after 1957 that led to competition between energy sources.
Bank Indonesia. Retrieved 4 May 2024. ^ "Iran officially raises interest rate to 23%". ParsToday. 31 January 2023. Retrieved 4 February 2023. ^ "The Monetary Committee decides on January 1, 2024 to reduce the interest rate by 0.25% to 4.5%". Bank of Israel. 1 January 2024.
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
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This also made Nigeria the last country in the world to abandon the £sd currency system in favour of a decimal currency system. There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo.
Leadership News. Leadership is a Nigerian daily national newspaper. It was established in October 2004 by Sam Nda-Isaiah, a pharmacist cum businessman and politician, and is published by Leadership Newspaper Group based in Abuja, Nigeria. [1] On its website, the paper asserts: "We shall stand up for good governance.
Russia committed multiple human rights violations in Crimea since it annexed the peninsula in 2014, the European Court of Human Rights(ECHR) said on Tuesday in a case brought by Ukraine. The ...
South West Nigeria The protests occurred as an aftermath of the annulment of the June 12, 1993 Presidential elections by Ibrahim Babangida. 2012 2-14 January Occupy Nigeria: Nigerians; Nigeria (including the diaspora) Nigerians protested against the removal of fuel subsidies and eventual price hikes by the Goodluck Jonathan government. It led ...