In total, Nigeria’s outstanding charges and interest to the IMF amount to SDR125.99 million. At an exchange rate of N2,180 per Special Drawing Right (SDR), based on XE currency conversion, this translates to approximately N274.66 billion.
Nigeria owes the International Monetary Fund (IMF) SDR125.99 million (N274.66bn) in interest and charges, with repayments projected until 2029. Despite clearing principal loans, forex losses have doubled the debt burden in naira terms, straining public finances.
Nigeria’s outstanding charges and interest on IMF loans stand at SDR125.99 million (N274.66bn), per IMF data released April 30, 2025. The country is projected to pay SDR22.35 million in 2025, rising to SDR25.92 million by 2028. While principal repayments—totalling SDR2.454 billion since 2020—have been met, the naira’s depreciation has inflated the local currency cost. Central Bank of Nigeria (CBN) reports show the debt surged from N2.5tn in 2023 to N5tn by 2024 due to forex losses.
Presidential aides, including Bayo Onanuga, claimed Nigeria had “cleared” its IMF debt, but the IMF’s records list unpaid charges and interest. SaharaReporters, which first exposed the discrepancy, stated, “The weakened naira forced Nigeria to allocate more funds to meet dollar-denominated obligations.” Debt servicing consumed N1.3tn in December 2024 and January 2025 alone—overshooting monthly budgets.
With zero capital expenditure in January 2025, economists warn that rising debt servicing costs are crippling fiscal flexibility. The Tinubu administration faces pressure to stabilize the naira and curb borrowing amid dwindling revenue. “Debt servicing is eating into critical public spending,” analysts noted, as Nigeria grapples with balancing IMF obligations and economic growth.
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