Petrol, gas: Cost of living spikes

Economic, financial and social analysts have warned that wage awards and palliatives alone cannot resolve Nigeria's rising cost of living crisis. They argued that while immediate relief may be necessary for vulnerable Nigerians, lasting solutions require lower transportation, energy, food and housing costs. The analysts' positions followed renewed calls by the Nigeria Labour Congress for wage awards and palliatives to cushion the impact of rising petrol prices, with petrol selling for about N1,430 per litre in major cities. The Lagos Chamber of Commerce and Industry also called for more crude supply to local refineries.

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