Nigeria has officially eliminated its obligation of loans of $ 3.4 billion with the International Monetary Fund (IMF), marking a fundamental achievement in the country's economic recovery trip.
The loan, disbursed in April 2020 under the FMI rapid financing instrument (RFI), aimed to cushion the impact of COVID-19 pandemic and world accident of the price of oil.
According to a statement by the IMF resident representative in Nigeria, Dr. Christian Ebeke, the country completed the reimbursement of April 30, 2025.
The five -year refund plan included a moratorium period of 3.25 years, with payments that began in the third quarter of 2023.
Also read: USA
Despite solving the main loan, Nigeria will continue to make annual payments of around $ 30 million in positions of special drawing rights (SDR).
These charges are based on the difference between the country's SDR holdings, actively SDR 3,164 billion (US $ 4.3 billion), and its total SDR allocation of SDR 4.027 billion (US $ 5.5 billion). Payments will continue until the two balances are the same.
Former presidential assistant Tolu Ogunlesi, through his X identifier (previously Twitter), applauded the milestone.
“These US $ 3.4 billion, equivalent to 100% of our SDR quota, has now been paid completely, in line with the agreement,” he said.
“President Bola Ahmed Tinubu has remained to the terms. As of May 2025, the loan is completely clear. Naija does not carry the last one, and we are not breaches.”
The IMF figures confirm the consistent payment trajectory of Nigeria: June 30, 2023: $ 2.45 billion pending; December 31, 2023: $ 1.84 billion; June 30, 2024: $ 1.23 billion; March 31, 2025: $ 306.8 million; May 7, 2025: $ 0.
Analysts believe that this milestone reinforces the solvency of Nigeria and indicates a renewed commitment to fiscal discipline in the midst of ongoing economic reforms.
Nigerian tribe