BY NKECHI NAECHE ESEZOBOR—The International Monetary Fund (IMF) has removed Nigeria from its list of debtor-countries.
According to report posted on its official website titled “ Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025,” the world financial authority, did not add Nigeria on the list that had 91 developing and least developed countries as at May 6th, 2025 with a total of $117,797,656,224 as debit.
This figure includes unpaid and outstanding principal from both current and expired arrangements with the IMF.
According to PUNCH report recently, Nigeria 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, according to PUNCH 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.
Although the principal repayment has been fully settled, The PUNCH found upon further checks of the IMF website that several charges associated with the loan remain due.
These charges, which consist mainly of interest, will continue to be repaid annually for the next few years.
It added that in 2025, Nigeria’s scheduled charge for the loan is SDR 6,548,785 (approximately $8.84m) due in May, with additional charges in August and November, bringing the total charge for 2025 to SDR 22,348,146 (approximately $30.24m).
The charges will remain consistent through 2029, with annual payments for each year ranging from SDR 25,912,903 in 2026 and 2027 to SDR 25,924,726 in 2028 and SDR 25,901,079 in 2029.
