₦airaland Forum

The Federal Government has confirmed full payment of the sum of $3.4 billion loan received from the International Monetary Fund (IMF) during the COVID-19 pandemic.

The Minister of Information and National Orientation, Mohammed Idris, confirmed this while briefing State House correspondents after the Federal Executive Council meeting at the State House, Abuja on Monday.

The news broke out last week that Nigeria has officially removed itself from the International Monetary Fund’s (IMF) debtor list, following the full settlement of its outstanding credit obligations.

Analysts say this significant step, confirmed by the IMF’s latest report , marks a turning point in the country’s fiscal journey.

As of May 2025, Nigeria no longer appears among the 91 developing nations with pending credit to the IMF, signaling the culmination of a two-year repayment initiative.

This achievement, reported in the IMF’s “Total IMF Credit Outstanding ” document, has been hailed as a defining moment for Nigeria’s financial management, with the country now emerging debt-free from its previous obligations.

The journey towards clearing this debt began in earnest in 2023, when the nation’s IMF debt stood at $1.61 billion. Through disciplined fiscal reforms, the debt steadily declined, reaching $472 million by January 2025, before being fully repaid by May of the same year.

The final settlement not only removes the burden of legacy debt but also strengthens Nigeria’s position on the global economic stage.

zero8zero:
✓ $3.4 IMF loan cleared

✓ N100billion Sukuk loan cleared

✓ $7billion FX backlog cleared

✓ N30 trillion Ways and Means out of 87trillion - cleared.

✓ States reducing their debts by 70% - confirmed.

✓ External reserves increases to $40billion - confirmed

✓ States allocations increased by more than double - confirmed.

All these under two years!

God bless President Tinubu, God bless Nigeria.

zero8zero:
✓ $3.4 IMF loan cleared

✓ N100billion Sukuk loan cleared

✓ $7billion FX backlog cleared

✓ N30 trillion Ways and Means out of 87trillion - cleared.

✓ States reducing their debts by 70% - confirmed.

✓ External reserves increases to $40billion - confirmed

✓ States allocations increased by more than double - confirmed.

All these under two years!

God bless President Tinubu, God bless Nigeria.

malali:
Current SDR Obligations by Nigeria to IMF.

Despite settling the principal, Nigeria continues to have financial obligations to the IMF:
• Outstanding Purchases and Loans: Approximately SDR 1.53 billion, representing 62.5% of Nigeria’s IMF quota. 
• Projected Payments:
• 2024: Principal of SDR 613.63 million and charges/interest ranging from SDR 32.34 million to SDR 78.69 million.
• 2025: Principal of SDR 613.63 million and interest charges of SDR 36.95 million.  
• Annual SDR Charges: Approximately $30 million, continuing post-repayment. Say the whole truth, dont minimize it.

Educationalserv:
poverty and starvation increase by 500 percent ! Nepotism 600 percent , insecurity 700 percent

Agbegbaorogboye:
What should we fry

Who paying loan epp

Na today?



So it's even $1.6bn he paid out of $3.46bn over a period of 2 years l'ariwo po to bayii

Buhari that now paid $1.86bn nko

Should we bow down and worship him

Maybe we should kuku replace God with OBJ since he paid $12bn

Zombies are daft wallahi!!

zero8zero:
✓ $3.4 IMF loan cleared

✓ N100billion Sukuk loan cleared

✓ $7billion FX backlog cleared

✓ N30 trillion Ways and Means out of 87trillion - cleared.

✓ States reducing their debts by 70% - confirmed.

✓ External reserves increases to $40billion - confirmed

✓ States allocations increased by more than double - confirmed.

All these under two years!

God bless President Tinubu, God bless Nigeria.

malali:
Current SDR Obligations by Nigeria to IMF.

Despite settling the principal, Nigeria continues to have financial obligations to the IMF:
• Outstanding Purchases and Loans: Approximately SDR 1.53 billion, representing 62.5% of Nigeria’s IMF quota. 
• Projected Payments:
• 2024: Principal of SDR 613.63 million and charges/interest ranging from SDR 32.34 million to SDR 78.69 million.
• 2025: Principal of SDR 613.63 million and interest charges of SDR 36.95 million.  
• Annual SDR Charges: Approximately $30 million, continuing post-repayment.

Say the whole truth, dont minimize it.

Educationalserv:
poverty and starvation increase by 500 percent ! Nepotism 600 percent , insecurity 700 percent

zero8zero:
When you get to your classroom this morning, ask your class teacher to tell you the meaning of SDR ( Special Drawing Rights ) and cure your ignorance. Painting your comments with crayons does not imply common sense or basic understanding.

Putindbutt:
Na dem.. wailers are pained. The only thing they want to hear is bad news, bad news and bad news. May your pains be long.

The journey towards clearing this debt began in earnest in 2023, when the nation’s IMF debt stood at $1.61 billion.

UpaIweka:
But my Igbo brother claim he is only looting yet from 1999 no president as ever paid off a single debt owned by Nigeria.

Tinubu they claim he is a fraudster is the one paying it off while thwy continue to tarinsh his name.

UpaIweka:
But my Igbo brother claim he is only looting yet from 1999 no president as ever paid off a single debt owned by Nigeria.

Tinubu they claim he is a fraudster is the one paying it off while thwy continue to tarinsh his name.

Educationalserv:
.

zero8zero:
✓ $3.4 IMF loan cleared

✓ N100billion Sukuk loan cleared

✓ $7billion FX backlog cleared

✓ N30 trillion Ways and Means out of 87trillion - cleared.

✓ States reducing their debts by 70% - confirmed.

✓ External reserves increases to $40billion - confirmed

✓ States allocations increased by more than double - confirmed.

All these under two years!

God bless President Tinubu, God bless Nigeria.

nedu666:
30 trillion ways and Means cleared. By whom and when. The money wasn't cleared it was added to the domestic debt. Who even hire you for this propaganda job

Putindbutt:
Even OBJ begged for debt forgiveness

nedu666:
And he paid 12 billion dollars. Left 42 billion dollars in reserve and 25 billion in excess crude reserve. Yet his supporters did not open 100 threads on Nairaland

nedu666:
30 trillion ways and Means cleared. By whom and when. The money wasn't cleared it was added to the domestic debt. Who even hire you for this propaganda job

Agbegbaorogboye:
They target the daftest and dumbest to put in that job

Even an average intelligence person won't touch that job with a long pole

They are now counting paying off sukuk loan as achievement

Se ri were gbogbo

TimeManager:
It was securitized and as long as investors have bought it, therefore, it has been definitely cleared. The securitization of the means and ways was the best and most practicable solution to have resolved the debts. I hope my brief explanation is not beyond the limits of your understanding?.


-Kiss the truth!

nedu666:
And he paid 12 billion dollars. Left 42 billion dollars in reserve and 25 billion in excess crude reserve. Yet his supporters did not open 100 threads on Nairaland

Agbegbaorogboye:
Ah!! Zombie!!
Do you even know what you're writing
Who told you this nonsense? Do you know what it means to securitize loan? Which investor bought it and "cleared" it?
Zombie!! Delete this comment abeg. Southies must not see that see that we have this level of daftness among us

zero8zero:
✓ $3.4 IMF loan cleared

✓ N100billion Sukuk loan cleared

✓ $7billion FX backlog cleared

✓ N30 trillion Ways and Means out of 87trillion - cleared.

✓ States reducing their debts by 70% - confirmed.

✓ External reserves increases to $40billion - confirmed

✓ States allocations increased by more than double - confirmed.

All these under two years!

God bless President Tinubu, God bless Nigeria.

adenigga:
Nigeria’s public debt increased by 48.58 percent to N144.67 trillion as of December 2024 from N97.34 trillion recorded at the end of 2023.


Nigeria’s Debt Management Office disclosed this in its latest report on the country’s public debt profile.

Further analysis showed that Nigeria’s public debt surged by N47.32 trillion on a year-on-year basis.


The report also revealed a quarter-on-quarter rise of 1.65 percent from the N142.32 trillion recorded at the end of September 2024, which indicates that the country’s debt profile has been on a steady rise.

The rise in the debt profile of Africa’s most populous nation is mainly driven by external and domestic borrowing.

External debt rose by 83.89 percent to N70.29 trillion in December from 38.22 trillion in the same period in 2023.


Similarly, domestic debt rose by 25.77 percent to N74.38 trillion in December 2024 from 59.12 trillion at the end of December in 2023.

Accordingly, further breakdown of external debt shows that the federal government accounted for N62.92 trillion ($40.98 billion), while states and the FCT held N7.37 trillion ($4.80 billion).

In the domestic debt segment, the federal government held N70.41 trillion ($45.86 billion), with states and the FCT accounting for N3.97 trillion ($2.58 billion).


The increase in Nigeria’s debt profile has raised concerns among financial experts.

The Chief Executive Officer of the Centre for Promotion of Private Enterprises, Dr. Muda Yusuf, criticised the rising debt rise in Nigeria despite the huge infrastructural deficit.

Source: https://dailypost.ng/Nigerias-debt-rises-by-N47tn-to-hit-N144.67tn