Nigeria is no longer in debt to the IMF after repaying its $3.4 billion loan in full.
The loan was paid back by April 30, 2025, which was months ahead of schedule. It was given in April 2020 under the Rapid Financing Instrument to help manage the COVID-19 impact.
Nigeria’s enhanced financial discipline and economic prospects are demonstrated by its early repayment.
The nation’s international credit position is strengthened, and investor confidence is increased by its removal from the IMF’s debtor list.
Nigeria’s economy today benefits from rising oil prices and continuous reforms after the loan helped stabilise it throughout pandemic-related difficulties, including low oil prices and currency weakness.
