Hardship As NNPC Increases Petrol Price In Nigeria

<h4>Hardship As NNPC Increases Petrol Price<&sol;h4>&NewLine;<h4><&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that there is anxiety in Nigeria over hardship as the Nigerian National Petroleum Company &lpar;NNPC&rpar; Limited has increased petrol price to N835 per litre in Lagos&comma; and N839 per litre in Abuja&period;<br &sol;>&NewLine;On Wednesday&comma; TheCable observed that the national oil company made the price adjustment across retail outlets in both cities&period;<&sol;p>&NewLine;<p>Apprehensive citizens&&num;8217&semi; purchasing power is characterized by significant variations&comma; with Purchasing Power Parity &lpar;PPP&rpar; estimates showing a large economy but high local inflation eroding the real value of incomes&period;<&sol;p>&NewLine;<p>Technically&comma; while the economy is large in <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">dollar<&sol;a> terms &comma; citizens often struggle with high <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">costs<&sol;a> for basic goods&comma; especially food&comma; reducing their ability to buy&comma; leading to lower perceived power despite potential overall growth<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;