• Latest
  • Trending
Nigeria Pays Back all N2.59trn IMF Debt

Nigeria Pays Back all N2.59trn IMF Debt

How Adamawa Busts Child Trafficking Ring Selling Victims at N800k

How Adamawa Busts Child Trafficking Ring Selling Victims at N800k

UNRULY PASSENGERS UNDER NIGERIAN AVIATION LAW: A CRITICAL ANALYSIS

UNRULY PASSENGERS UNDER NIGERIAN AVIATION LAW: A CRITICAL ANALYSIS

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

Alaafin Gives Ooni 48-Hour Ultimatum Over Yorubaland Title Clash

‘48 Hours My Foot!’ Ooni’s Spokesman replies Alaafin’s Ultimatum

How Bandits killed 13 Worshippers During Fajr Prayer in Katsina Mosque

How Bandits killed 13 Worshippers During Fajr Prayer in Katsina Mosque

NCAA orders Phones Off During Flights

NCAA orders Phones Off During Flights

Nigerian Government Hits Back as US Tighten Visa Rule

Nigerian Government Hits Back as US Tighten Visa Rule

Thursday, August 21, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Business News

Nigeria Pays Back all N2.59trn IMF Debt

by iDeemlawful
May 7, 2025
in Business News
A A
0
Nigeria Pays Back all N2.59trn IMF Debt

Nigeria has fully repaid its $1.61bn (N2.59trn as of May 7, 2025) debt obligation to the International Monetary Fund (IMF).

A check through the IMF’s webiste by IntelRegion on May 7, 2025, revealed that Nigeria has been removed among list of countries owning the international financial agency.

A data obtained popular data company, StatiSense showed that Nigeria paid off the debt in gradual from;

$1.61 billion in July 28, 2023 to $1.37 billion in January 5, 2024 to $933.03 million in July 10, 2024 to $472.06 million in January 8, 2025 and settled the reamining debt by May 6, 2025

SeeThese

Tinubu asks Rivals to Accept Defeat as APC wins By-Election

Tinubu Gives Fresh Appointment to Babangida’s Son, Others

FULL TEXT: Tinubu’s tribute for Buhari at special FEC

An official IMF statement confirming the development said the clearance marks the end of a decades-long financial burden that had weighed heavily on Africa’s most populous nation.

Legacy debts refer to obligations accumulated over past administrations, often including arrears owed to international creditors, bilateral partners, and domestic contractors.

IMF Managing Director Kristalina Georgieva praised the Nigerian government for its “decisive fiscal management and commitment to long-term economic reform.”

She noted that this achievement reflects “a critical turning point for Nigeria’s economic trajectory and global credit standing.”

Speaking on the development, O’tega Ogra, the senior special assistant to President Bola AhmedTinubu on digital engagement, strategy, and new media described it as a signal of discipline, reform, and strategic reset by the Tinubu-Shettima administration in restructuring our finances to enable us to be better placed for a prosperous future.

“As Nigeria closes the chapter on these legacy debt obligations, we are better placed to strengthen our fiscal credibility and show the world, and ourselves, that Nigeria is serious about managing our economy with responsibility and vision,” he said in a post made on X (formerly Twitter).

He futher noted that this does not mean Nigeria will stop doing business with the IMF, adding that Nigeria still remains a member of the IMF and can approach it at any time if the situation demands.

Ogra explained that Nigeria will continue to do business with international agency, “because, global partnerships like the IMF remain valuable allies, especially in a world defined by volatility and uncertainty. The difference now is that any future engagement will be proactive, not reactive and will also be based on partnership, not dependence.”

Tags: Bola Ahmed TinubuIMF
Share240Tweet150SendShare
Previous Post

VeryDarkMan’s lawyer expresses frustration over Bail Difficulties

Next Post

JUST IN: VeryDarkMan released from EFCC custody

iDeemlawful

iDeemlawful

Next Read

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

...

Read more
NCAA orders Phones Off During Flights
Business News

NCAA orders Phones Off During Flights

...

Read more
Nigerian Government Hits Back as US Tighten Visa Rule
Business News

Nigerian Government Hits Back as US Tighten Visa Rule

...

Read more
9mobile Changes Name, Logo
Business News

9mobile Changes Name, Logo

...

Read more
CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

...

Read more
Business News

After $3b repairs, NNPC Considers Selling Nigeria’s 445,000 bpd Refineries

...

Read more
31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST
Business News

31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST

...

Read more
Why NNPC Refineries May Never Work Again – Dangote
Business News

Why NNPC Refineries May Never Work Again – Dangote

...

Read more
Next Post
JUST IN: VeryDarkMan released from EFCC custody

JUST IN: VeryDarkMan released from EFCC custody

FG declares free C-Section for Nigerian Women

Drama as 18-Year-old Apprentice impregnates Master's Daughter, 9 Others in Anambra

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

How Ballot Box Snacther Was Gunned Down In Kogi, Other Election Violence [Photos/Videos]

How Ballot Box Snacther Was Gunned Down In Kogi, Other Election Violence [Photos/Videos]

Lagos Govt Sacks Judge Who Dissolved Marriage To Snatch, Marry Complainant’s Wife

REMEDIAL TO “BREAKFAST” UNDER THE NIGERIAN LAW

Wike Reveals Those Who Encouraged Him To Contest 2023 Presidency But Now Working Against Him

2023: “Stop behaving as if you own PDP” – Ex-Governor Blats Wike Nyesom

Most Popular

How Adamawa Busts Child Trafficking Ring Selling Victims at N800k
Breaking News

How Adamawa Busts Child Trafficking Ring Selling Victims at N800k

UNRULY PASSENGERS UNDER NIGERIAN AVIATION LAW: A CRITICAL ANALYSIS
Commentary

UNRULY PASSENGERS UNDER NIGERIAN AVIATION LAW: A CRITICAL ANALYSIS

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In