Lagos, May 8, 2025 – Nigeria has fully repaid its $1.61 billion debt to the International Monetary Fund (IMF).
The IMF confirmed the payment in its report titled: “Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025,” posted on its website on Wednesday.
In the report, it listed five African countries as some of its debtors with Egypt topping the group with $8.173 billion debt, Kenya has $3.022 billion debt, Angola $2.9 billion debt, Cote d’Ivoire $2.683 billion and South Africa $762 million debt.
Nigeria was not listed among the debtors.
StatiSense, a data company, also confirmed that Nigeria is no longer indebted to IMF in a post on its X handle on Wednesday.
It said Nigeria had gradually settled its debts by reducing the debt stock to $1.37 billion as of January 5, 2024; $933.03 million as of July 10, 2024; $472.06 million as of January 8, 2025, before the debt was finally settled in May.
