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OpenLife Nigeria reports that there is anxiety in Nigeria over hardship as the Nigerian National Petroleum Company (NNPC) Limited has increased petrol price to N835 per litre in Lagos, and N839 per litre in Abuja.
On Wednesday, TheCable observed that the national oil company made the price adjustment across retail outlets in both cities.
Apprehensive citizens’ purchasing power is characterized by significant variations, with Purchasing Power Parity (PPP) estimates showing a large economy but high local inflation eroding the real value of incomes.
Technically, while the economy is large in dollar terms , citizens often struggle with high costs for basic goods, especially food, reducing their ability to buy, leading to lower perceived power despite potential overall growth
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