ABUJA —
The World Bank said the downward revision was due to slow economic growth in the third quarter from a year earlier, dragged down by the oil sector and a weak performance in other areas of the economy.
The bank forecast growth to slow 2.9% next year.
Last month, the International Monetary Fund cut Nigeria's 2022 real GDP growth forecast down to 3% from 3.4% earlier, citing weak oil production and the adverse effects of recent flooding.
Nigeria's economy has been hit hard by inflation that rose in November for the 10th straight month to 21.47% from 21.09% in October.
