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IMF confirms Nigeria’s full repayment of $3.4bn loan

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IMF confirms Nigeria’s full repayment of $3.4bn loan

09 May, 2025

The International Monetary Fund has confirmed that Nigeria has fully repaid the $3.4 billion in financial support it received under the Rapid Financing Instrument to cushion the economic impacts of the COVID-19 pandemic.  In a statement sent to journalists on Thursday on behalf of Mr. Christian Ebeke, the IMF Resident Representative for Nigeria, the Fund said the repayment was completed on April 30, 2025. The loan, disbursed in April 2020, was aimed at helping Nigeria address a sharp fall in oil prices, economic contraction, and fiscal pressures caused by the pandemic............... READ MORE