Nigerian growth lags Africa, poverty rising, says World Bank
NIGERIAN economic growth has resumed after the COVID shock but is lagging the rest of sub-Saharan Africa, with food inflation, heightened insecurity and stalled reforms slowing growth and increasing poverty, the World Bank has said. Presenting its six-monthly update on development in Africa's most populous country, the organisation gave a GDP growth forecast for Nigeria of 1.9% in 2021 and 2.1% in 2022, compared with 3.4% this year and 4.0% next year for sub-Saharan Africa. Lead economist for Nigeria Marco Hernandez said inflation, especially in food prices, was exacerbating poverty and food insecurity. Food accounted for almost 70% of Nigeria's…