US EditionNigeria: IMF Speaks On Nigeria's Covid Loan Repayment, Outstanding Charges
- Nigeria fully repaid its $3.4 billion COVID-19 Rapid Financing Instrument loan from the IMF by May 6, 2025, resulting in its removal from the IMF debtor list.
- This repayment followed a five-year schedule starting in April 2020, after a 3.25-year moratorium that delayed principal repayments until late 2023.
- Nigeria’s debt steadily declined from $1.61 billion in July 2023 to zero in May 2025, demonstrating consistent fiscal discipline under President Bola Tinubu’s administration.
- O'tega Ogra described the repayment as a "strategic reset" aimed at enhancing Nigeria’s fiscal credibility, while IMF Managing Director Kristalina Georgieva commended the country’s strong fiscal management and its dedication to sustained economic reform.
- Although Nigeria is debt-free to the IMF, it remains liable for roughly $30 million annually in Special Drawing Rights charges until its SDR holdings equal cumulative allocations.
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IMF says Nigeria repays $3.4 billion COVID-19 funding
LAGOS - 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. Read more at straitstimes.com.
·Singapore
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JUST IN: IMF speaks on Nigeria's COVID loan repayment, outstanding charges
An IMF spokesperson told PREMIUM TIMES Thursday afternoon that Nigeria is expected to honour additional payments. The post JUST IN: IMF speaks on Nigeria’s COVID loan repayment, outstanding charges appeared first on Premium Times Nigeria.
·Abuja, Nigeria
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