“As of April 30, 2025, Nigeria has fully repaid the financial support of about US$3.4 billion.”
PREMIUM TIMES NG
The International Monetary Fund (IMF) on Thursday confirmed that Nigeria has fully repaid the $3.4 billion financial support it received in April 2020 under the Rapid Financing Instrument, aimed at cushioning the COVID-19 pandemic and oil price shocks. “As of April 30, 2025, Nigeria has fully repaid the financial support,” an IMF spokesperson said.
However, the IMF noted that Nigeria is still expected to make annual payments of about $30 million in Special Drawing Rights (SDR) charges until its SDR holdings match its cumulative allocation. “These charges, levied at the SDR interest rate, apply to the difference between Nigeria’s SDR holdings (SDR 3,164 million) and its cumulative SDR allocation (SDR 4,027 million),” the spokesperson added.
Recent IMF data shows Nigeria no longer appears among its debtor list. Presidential aides O’tega Ogra and Tolu Ogunlesi praised the repayment, highlighting that the five-year loan term was completed under the current administration. “Naija no dey carry last, and we no dey default,” Ogunlesi tweeted.
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