The federal government says it has cleared $7 billion in FX obligations, settled N30 trillion in ways and means advances, and fully serviced external loans, including a $1.5 billion Eurobond.
THE SUN
The federal government has repaid $7 billion in foreign exchange forwards and financial obligations, according to Dr Tope Fasua, economic adviser to the president, who represented Vice President Kashim Shettima at the 27th CITN Tax Conference in Abuja.
“In the year 2024, we saw a scenario where Nigeria’s balance of payments surplus hit $6.8 billion… and we also got news recently that Nigeria has repaid in full, the principal of $3.4 billion borrowed… from the International Monetary Fund,” Fasua said.
He described 2024 as Nigeria’s strongest economic year in a decade, with inflation expected to decline. CITN President Samuel Agbeluyi urged sustained reforms and lauded the government’s fiscal policy efforts.