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This means that between 2023 and 2024, the Nigerian government’s liabilities to the IMF increased by N2.545 trillion.Travel guides

Areview of the Central Bank of Nigeria’s financial statement as of the end of the 2024 financial year has shown that the country's liabilities to the International Monetary Fund (IMF) grew by N2.5trillion in 2024.




The review reveals that the Nigerian government liabilities stood at N2.524 trillion in 2023 but increased to N5.069 trillion in 2024 under President Bola Tinubu. Travel guides



This means that between 2023 and 2024, the Nigerian government’s liabilities to the IMF increased by N2.545 trillion.




According to a note in the CBN’s financial statement, “IMF-related liabilities represent other payables owed by the Federal Government of Nigeria to the General Purpose Account of the IMF.”Travel guides



The increase in liabilities between 2023 and 2024 was attributed to the depreciation of the Naira.



The financial statement recorded an exchange loss of N2.544 trillion during this period.



This growing debt figure comes amid mounting concerns about the country's rising debt portfolio under incumbent President Bola Tinubu, a development worsened by the fall in value of Naira, which increases the value of debt owed by the country especially those sourced from international sources.



In August 2023, while inaugurating the Presidential Committee on Tax Reforms, Tinubu vowed to reduce Nigeria’s dependence on borrowing for public expenditure.



The State House website published the following statement in August 2023:

"President Bola Tinubu in Abuja expressed his resolute commitment to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited government revenues.”



Despite these intentions, the Tinubu administration appears relentless in expanding the country’s debt portfolio.



A review shows that as of June 30, 2023 — the end of Tinubu's first month in office — the external debt of the Federal Government of Nigeria stood at N29.8 trillion (excluding debts owed by states and the Federal Capital Territory).



By December 31, 2024, however, the external debt owed by the Nigerian government alone had grown to N62.917 trillion, indicating an increase of N33.1 trillion in just 18 months.



On the domestic front, the Federal Government’s debt stood at N48.3 trillion as of June 2023. By December 2024, this had risen to N70.4 trillion — a growth of N22.1 trillion.



In total, the debt owed by the Federal Government (excluding debts owed by states and the FCT) increased by N55.2 trillion by the end of December 2024.



An earlier review of the Q4 2024 economic report released by the Central Bank of Nigeria revealed that the Tinubu-led government spent N2.199 trillion on debt servicing in Q4 2024.



This figure exceeded both the N2.067 trillion budgeted for debt servicing in Q4 2024 and the N2.055 trillion spent in Q3 2024.



Moreover, Q4 2024 debt servicing expenditure surpassed that of the same period in 2023, when N1.876 trillion was spent.



The report also noted that Nigeria’s total public debt stock stood at 51.29% of Gross Domestic Product (GDP) — about 18% below the 70% threshold for market-access countries.



"At end of September 2024, public debt stock remained within the 70.00 per cent threshold for Market-Access Countries.”



"Total public debt outstanding stood at ₦142.32 trillion (51.29% of GDP), at end-September 2024, and was 5.97 per cent higher than the level at end-June 2024. The rise was due largely to revaluation effects (arising from exchange rate depreciation) and new borrowings to finance the deficit outlined in the 2024 Appropriation Act.”



Further review of the Debt Management Office data shows that total public debt as of the end of 2024 stood at N144.6trillion.

https://saharareporters.com/2025/05/06/nigerias-indebtedness-imf-grows-n25trillion-one-year-under-tinubu

By the time Terribu will finish dealing with Nigerians, all the traditional rulers, rich people and commoners will go and beg Peter Obi to come and take over the country without election. People will be too hungry that they won't even notice the difference between parties, tribes, religions or social classes.

Even after removing fuel subsidy?

sleek214:
Even after removing fuel subsidy?

Are you really sure they removed fuel subsidy? We shouldn't be believing people who have shady characters when they talk. A person who was actively involved in criminal activities is telling you he did something, believe him at your own peril.

Same IMF and World Bank that has been telling the world that the Tinubu's economic reforms are working? How how come Nigeria is still into chronic irredeemable indebtedness to these slave masters? A gang of hardened criminals will never meant well for a nation. Know this and know peace.

So suddenly we are owing debt in Naira to international agencies but if we quote foreign reserve in Naira, una go dey cry.

You need to pick one story and stick with it.

Below is the change in IMF debt during Tinubu government. We actually paid the loan down to less than $1bn

He tamed the Atlantic Ocean

He worked at Mobile

We need his brain and not his body

We must teach Peter Obi a bitter political lesson.

Sahara deserted

Nigeria media are bunch of useless organization that cannot do simple research.

Below is IMF official website showing the total debt owed to them by country. As at March 2025, we only ow $307 million to IMF.

In Naira, @1600 to $1, that is N491 billion.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

Infact Nigeria paid over $1.2bn back to IMF within late 2023 to early 2024.

Karlovych:
He tamed the Atlantic Ocean

He worked at Mobile

We need his brain and not his body

We must teach Peter Obi a bitter political lesson.

coming from your favourite Sara reporter!!!

U are a joke

LegendHero:
Infact Nigeria paid over $1.2bn back to IMF within late 2023 to early 2024.

Is Punch not part of the Nigerian media that you just called useless?
The story clearly says the debt increase is due to naira depreciation
You're the same hypocrite who wouldn't want anyone to compare GDP and minimum wages in dollars
But here you are crying when debt is measured in naira
What kind of dullard are you

Agbegbaorogboye:
Is Punch not part of the Nigerian media that you just called useless?
The story clearly says the debt increase is due to naira depreciation
You're the same hypocrite who wouldn't want anyone to compare GDP and minimum wages in dollars
But here you are crying when debt is measured in naira
What kind of dullard are you

Nope, we currently owe less than $310million to the IMF. Infact, I think we’ve paid more from it since March and I believe their next release will probably show we are owing $0.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

The media is strong, they can do anything they want with the headline.

If you read the headline from Punch, what will be the first impression to you? Is it that Tinubu government actually paid off our loan to the IMF or increased it?

LegendHero:
Nigeria media are bunch of useless organization that cannot do simple research.

Below is IMF official website showing the total debt owed to them by country. As at March 2025, we only ow $307 million to IMF.

In Naira, @1600 to $1, that is N491 billion.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

Bro, as soon as I saw this fake news by wailers and their fake news blog, I went on IMF Website to factcheck. It shows this news is not only a fabrication but untrue and malicious. Guess what, the $307 million outstanding was as at March 31, 2025. A little bit further, you will see the outstanding as at April 5, 2025 and the outstanding was zero. We are in May but there's not yet an update for May. But as at last month, we had zero outstanding.
I'm not shocked this is coming from the enemies of the state, since the news of Nigeria reducing our debts and our reserves growing as well, they have been on overdrive trying to spin the facts. But they forgot that they cannot manufacture data.
https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

PS- The Moderators must factcheck the authenticity of this news on IMF official data before pushing it on the front page to avoid using Nairaland to mislead the public.

Cc seun nlfpmod Mynd44

PressMyButton:
Bro, as soon as I saw this fake news by wailers and their fake news blog, I went on IMF Website to factcheck. It shows this news is not only a fabrication but untrue and malicious. Guess what, the $307 million outstanding was as at March 31, 2025. A little bit further, you will see the outstanding as at April 5, 2025 and the outstanding was zero. We are in May but there's not yet an update for May. But as at last month, we had zero outstanding.
I'm not shocked this is coming from the enemies of the state, since the news of Nigeria reducing our debts and our reserves growing as well, they have been on overdrive trying to spin the facts. But they forgot that they cannot manufacture data.
https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

PS- The Moderators must factcheck the authenticity of this news on IMF official data before pushing it on the front page to avoid using Nairaland to mislead the public.

Cc seun nlfpmod Mynd44

What is our debt?

Alright

PressMyButton:
Bro, as soon as I saw this fake news by wailers and their fake news blog, I went on IMF Website to factcheck. It shows this news is not only a fabrication but untrue and malicious. Guess what, the $307 million outstanding was as at March 31, 2025. A little bit further, you will see the outstanding as at April 5, 2025 and the outstanding was zero. We are in May but there's not yet an update for May. But as at last month, we had zero outstanding.
I'm not shocked this is coming from the enemies of the state, since the news of Nigeria reducing our debts and our reserves growing as well, they have been on overdrive trying to spin the facts. But they forgot that they cannot manufacture data.
https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

God bless you.

As in Nigeria media are useless people and that is exactly why government don’t usually take them serious.

If it took us just 5min to validate info and factcheck immediately, how exactly do they just write useless headline just to paint wrong scenarios everytime

LegendHero:
God bless you.

As in Nigeria media are useless people and that is exactly why government don’t usually take them serious.

If it took us just 5min to validate info and factcheck immediately, how exactly do they just write useless headline just to paint wrong scenarios everytime

Give us evidence.

iwaeda:
Give us evidence.

All the evidence wey we don provide on this thread, you no see am?

Oya below is IMF website showing the loan owed to them by countries. Please help me read Nigeria loan amount left and reply back.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

LegendHero:
Nope, we currently owe less than $310million to the IMF. Infact, I think we’ve paid more from it since March and I believe their next release will probably show we are owing $0.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

The media is strong, they can do anything they want with the headline.

If you read the headline from Punch, what will be the first impression to you? Is it that Tinubu government actually paid off our loan to the IMF or increased it?

The problem with you is bias and prejudice
You want everyone to worship your favourite politician like you do
The report made a factual claim and you're here crying that they didn't make their report the way you prefer
Is it a fact or not that Nigeria's debt to imf rose by N2.54trillion?
The report is not debating payment but debt stock as a result of devaluation of the naira

LegendHero:
God bless you.

As in Nigeria media are useless people and that is exactly why government don’t usually take them serious.

If it took us just 5min to validate info and factcheck immediately, how exactly do they just write useless headline just to paint wrong scenarios everytime

Very useless bunch, trust this Administration, they are not even leaving any chances, they debunk any inaccuracies and false data immediately as they come, regardless of where it's coming from or who's dropping the fake news. No time. Look at how EFFCC came out to put a " fake stamp" on the news about VDM from BBC & Rufai's handle. Even this Sahara fake blog, you know how many times he has tendered an apology. They have met their match.

LegendHero:
All the evidence wey we don provide on this thread, you no see am?

Oya below is IMF website showing the loan owed to them by countries. Please help me read Nigeria loan amount left and reply back.

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

What date is this. Is not opening.

Tinubu, where is the money saved from subsidy removal?

iwaeda:
What date is this. Is not opening.

April to May 2025.

Agbegbaorogboye:
The problem with you is bias and prejudice
You want everyone to worship your favourite politician like you do

How does this translate favoritism in the face of real data?

The report made a factual claim and you're here crying that they didn't make their report the way you prefer Is it a fact or not that Nigeria's debt to imf rose by N2.54trillion?

The report is not debating payment but debt stock as a result of devaluation of the naira

The report made no factual claim. It is a useless report devoid of truth.

Nigeria debt to IMF never rose since 2023 to present. It actually reduced by over 90%.

You have sense and you are educated. Go to IMF page and confirm yourself. Even ordinary StatiSense captured our decrease based on IMF source so how exactly did this news arrive at 2.54trillion rise?

So if you owe someone in 2023 N100. Then you paid it back in 2024 to let’s say N5. Is it justifiable to say your debt grow by N100 in 1 year?

In a sane establishment, they should conduct brain test for the editor of that news.

iwaeda:
What date is this. Is not opening.

Are you not on free mode? Oga buy data before sapa kee you

Agbegbaorogboye:
The problem with you is bias and prejudice
You want everyone to worship your favourite politician like you do
The report made a factual claim and you're here crying that they didn't make their report the way you prefer
Is it a fact or not that Nigeria's debt to imf rose by N2.54trillion?
The report is not debating payment but debt stock as a result of devaluation of the naira

Are you educated at all?
Ok,the debt increased but everything as been paid as at today and IMF is not hiding the fact that Tinubu has paid all the debt Nigeria owes IMF.
Are you sad that Tinubu paid all IMF debt?

Ofemannnu:
Are you educated at all?
Ok,the debt increased but everything as been paid as at today and IMF is not hiding the fact that Tinubu has paid all the debt Nigeria owes IMF.
Are you sad that Tinubu paid all IMF debt?

Which school did you attend
Is there any debate about paying debt?
How did you pass comprehension and summary in waec and jamb?
The article is detailing the effect of devaluation on Nigeria's debt with IMF and how Nigeria had to pay an extra N2.54trn
You can't speak to those facts only to zombiefy about Tinubu paying debts as if he didn't take more debts as well
Go back to school abeg!!

LegendHero:
How does this translate favoritism in the face of real data?



The report made no factual claim. It is a useless report devoid of truth.

Nigeria debt to IMF never rose since 2023 to present. It actually reduced by over 90%.

You have sense and you are educated. Go to IMF page and confirm yourself. Even ordinary StatiSense captured our decrease based on IMF source so how exactly did this news arrive at 2.54trillion rise?

So if you owe someone in 2023 N100. Then you paid it back in 2024 to let’s say N5. Is it justifiable to say your debt grow by N100 in 1 year?

In a sane establishment, they should conduct brain test for the editor of that news.

Nigeria debt to IMF is dollar denominated no doubt
But the fact still remains that in our local currency, Nigeria's debt to IMF ballooned by N2.54trn between 2023 and 2024! Do you dispute this fact?
Do you understand the implication of this fact in terms of revenue to debt servicing ratio?
Are you educated at all?

Agbegbaorogboye:
Nigeria debt to IMF is dollar denominated no doubt
But the fact still remains that in our local currency, Nigeria's debt to IMF ballooned by N2.54trn between 2023 and 2024! Do you dispute this fact?
Do you understand the implication of this fact in terms of revenue to debt servicing ratio?
Are you educated at all?

But we spend naira. They love calling black white.