The World Bank has urged Nigeria to overhaul its trade policy, particularly by cutting high import tariffs and lifting import bans, if it hopes to bring down inflation more quickly and stem the rising poverty affecting more than half of its population.
The Washington-based institution noted that while inflation is cooling due to tighter coordination between monetary and fiscal authorities, more must be done to drive down prices. It warned that as long as inflation remains elevated and economic growth lags behind expectations, the purchasing
