Abuja — Surging inflation is undermining the recovery of Africa’s biggest economy, pushing 7-million Nigerians into poverty and encouraging criminality as rising prices deplete already meagre incomes, according to the World Bank.

In its Nigeria Development Update report, the Washington-based lender projects economic growth of 1.8% in 2021, compared with a previous estimate of 1.2%. But it warned that without deep reforms, the economy will continue to grow slower than the pace of population expansion of about 2.6% a year...

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