₦airaland Forum

LAGOS, May 8 (Reuters) - Nigeria has repaid $3.4 billion in emergency funding it received from the International Monetary Fund (IMF) to help the country cope with the impact of the coronavirus pandemic five years ago, the global lender said on Thursday.
In April 2020, the IMF provided the financing to help Africa's largest oil exporter cope with a collapse in crude prices, which hit its finances and tipped the economy into recession.
IMF resident representative to Nigeria Christian Ebeke said in a statement that, as of April 30, the country had "fully repaid the financial support" it received under the Fund's Rapid Financing Instrument, a facility that provides urgent balance of payments funding to member nations.
"Nigeria is expected to honour some additional payments in the form of Special Drawing Rights charges of about US$30 million annually," Ebeke added.
The most recent data from the Debt Management Office shows that Nigeria last year spent $4.66 billion to service its foreign debt, of which $1.63 billion was to the IMF.

https://www.reuters.com/world/africa/imf-says-nigeria-repays-34-billion-covid-19-funding-2025-05-08/

Nlfpmod

Now it is important to situate things cause there's a lot of infantile misinformation out there about this so-called loan repayment to IMF.

Firstly, before 2020, Nigeria was not owing IMF a dime. Buhari’s APC government took the $3.4bn loan as part of Covid-19 support funding to assist countries whose economies were affected by Covid. Nigeria qualified for the loan by virtue of oil price crash which pushed our economy to the brink of recession.

Secondly, the Buhari govt was already paying off the loans in line with the conditions attached with the exception of subsidy removal and currency devaluation of course.

Thirdly Tinubu's APC government came in and in obedience to IMF removed subsidy and devalued the naira which made IMF restructure the loan for easier payments.

Fourthly, the loan has been fully liquidated this month longer than expected because of concessions granted due to subsidy removal and naira devaluation which means it's effectively a robbing Peter (in this case Nigerians) to pay Paul(in this case IMF) scenario.

Lastly, what is important is to ensure this APC govt don't go back to taking loans from IMF like their predecessor did since it's obvious APC are very poor at economic management regardless of who is in charge.

Thank you

LAGOS, May 8 (Reuters) - Nigeria has repaid $3.4 billion in emergency funding it received from the International Monetary Fund (IMF) to help the country cope with the impact of the coronavirus pandemic five years ago, the global lender said on Thursday.

..the maladministration of mandate thieves were dishing lies & propaganda that the maladministration has paid all IMF debts..

..but is were all lies & deceit...they only paid CO-vid Loans that was borrowed & looted by thieves of darling daddy & those who enthroned him for Ruga Mission...

They made it looks like, Tinubu achieved something unachievable, forgetting millions are wallowing in abject poverty due to the action of this man that knows nothing.

Good

Anyone claiming Nigeria is still owning IMF should kindly pay the debt on behalf of Nigeria

That Nigeria clearing her debt with IMF would make some people to just be sad is something that should be added to the new wonders in the world

iwaeda:
They made it looks like, Tinubu achieved something unachievable, forgetting millions are wallowing in abject poverty due to the action of this man that knows nothing.

But if he has accumulated more debt, na your likes go cry pass

Opposition don't mean make una just dey oppose the government for no sensible reason.

They paid covid 19 loan they borrowed from IMF. What about the Chinese loan? 🤣🤣🤣🤣

Agbegbaorogboye:
Now it is important to situate things cause there's a lot of infantile misinformation out there about this so-called loan repayment to IMF.

Firstly, before 2020, Nigeria was not owing IMF a dime. Buhari’s APC government took the $3.4bn loan as part of Covid-19 support funding to assist countries whose economies were affected by Covid. Nigeria qualified for the loan by virtue of oil price crash which pushed our economy to the brink of recession.

Secondly, the Buhari govt was already paying off the loans in line with the conditions attached with the exception of subsidy removal and currency devaluation of course.

Thirdly Tinubu's APC government came in and in obedience to IMF removed subsidy and devalued the naira which made IMF restructure the loan for easier payments.

Fourthly, the loan has been fully liquidated this month longer than expected because of concessions granted due to subsidy removal and naira devaluation which means it's effectively a robbing Peter (in this case Nigerians) to pay Paul(in this case IMF) scenario.

Lastly, what is important is to ensure this APC govt don't go back to taking loans from IMF like their predecessor did since it's obvious APC are very poor at economic management regardless of who is in charge.

Thank you

Your aunty Ngozi Iweala was recruited by the IMF to sell their urusury loan sharking down our throats.

Ngozi was head of the IMF COVID 19 relief funds .

Go and verify.

DomPerignon:
Your aunty Ngozi Iweala was recruited by the IMF to sell their urusury loan sharking down our throats.

Ngozi was head of the IMF COVID 19 relief funds .

Go and verify.

I don't get you
So you mean she put a gun on Zainab Ahmed's head and also Buhari’s to take the loan? Guess where Zainab Ahmed is working now

It is foolishness to blame NOI for the incompetence of your political gods.

It is even greater insanity to think IMF are so obsessed with Nigeria they appointed someone to head a multilateral agency all because they want us to take a loan

The biggest joke in you zombie is Tinubu implementing IMF recommendations. Is he also an IMF agent now? Go and verify!!

Lol...

It looks their whatsapp groups have found no other way to discredit the report that Nigeria is no longer owing IMF, they have now given them the signal to first agree that Nigeria is no longer owing and then try to water it down.

Bottomline, you guys now finally agree and have confirmed that we are no longer indebted to IMF, all your other explanation are not useful.

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