Inflation bites: A litre of petrol equals 1975 Peugeot wagon

The price of a Peugeot 505 wagon in 1975—N1,700—now closely mirrors the current price of a single litre of petrol in Nigeria, which hovers around N1,070, a stark testament to the effects of inflation and economic shifts. Back in the 1970s, owning a Peugeot 505, a symbol of prestige and reliability, was a major investment for middle-class Nigerians. Today, that same sum would barely cover the cost of refuelling a modestly-sized vehicle, a comparison that highlights the profound changes in the nation's economic landscape over nearly five de