Nigeria has fully repaid its outstanding debt to the International Monetary Fund (IMF) and is no longer listed among the Fund’s debtor nations.
According to the IMF’s latest report titled “Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025”, Nigeria is absent from the list of 91 developing and least-developed countries that owe the institution a cumulative $117.8 billion as of May 6, 2025.
The development marks the complete repayment of Nigeria’s pandemic-era Rapid Financing Instrument loan.
A senior IMF official, who spoke anonymously to THISDAY, said the Fund was still confirming the full settlement, but acknowledged Nigeria’s previous borrowing during the COVID-19 crisis.
Also, Data insights firm StatiSense corroborated the development, tracing Nigeria’s debt reduction trajectory: from $1.61 billion in July 2023 to $472.06 million in January 2025, before being fully cleared this month. The figures, originally in Special Drawing Rights (SDRs), were converted to US dollars for clarity.
