The Manufacturers Association of Nigeria (MAN) has warned that the recent hike in the prices of premium motor Spirit PMS popularly known as petrol may lead to a fresh surge in inflation figures in the country.
This, in turn may affect the new purchasing powers of many households further deepening poverty.
The association further warned that the Small and Medium-sized Enterprises (SMEs), which often operate on thin margins, could be hard-hit by the development.
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