Nigeria has completed the repayment of the principal amount of its $3.4bn loan from the International Monetary Fund, with the final payment made on April 30, 2025.
The loan, disbursed in full on April 30, 2020, was part of the IMF’s emergency COVID-19 Rapid Financing Instrument, aimed at helping Nigeria cope with the economic disruptions caused by the pandemic, including falling oil prices, a recession, and fiscal pressures.
The loan repayment is a significant achievement for Nigeria, with the full repayment of the $3.4 billion principal amount affirming Nigeria’s progress in meeting its external debt obligations.
