IMF has said Nigeria’s economy would grow by 3.4% in 2022 in its latest world economic outlook projections.

It revealed a 3.1% growth projection for the nation in 2023, down from 3.4% in 2022 and 3.6% in 2021.

Nigeria’s economic projection is lower than that of the Sub-Saharan African region.

Washington-based lender, the global economy is expected to grow by 3.6% in 2022 and 2023 as a result of the war on Ukraine, and sanctions on Russia.

The IMF stated that the war would slow economic growth and increase inflation.