#moneymanagement
Nigeria has fully repaid the principal amount of its $3.4 billion loan from the International Monetary Fund (IMF), which was obtained in April 2020 under the Rapid Financing Instrument to address the economic impact of the COVID-19 pandemic. The final repayment was completed by April 30, 2025 .
Following this repayment, Nigeria has been removed from the IMF's list of countries with outstanding credit obligations, marking a significant milestone in the country's fiscal management .
However, while the principal has been cleared, Nigeria still has ongoing financial obligations to the IMF in the form of charges and interest. As of April 30, 2025, these obligations amount to approximately SDR 125.99 million, which is about $2.8 billion based on current exchange rates. These charges are expected to be paid annually through 2029 .
In summary, Nigeria has successfully settled the principal of its IMF loan but continues to service associated charges and interest.
