Nigeria has been removed from the International Monetary Fund’s list of countries with outstanding credit after completing repayments of emergency financing and clearing its remaining obligations to the fund, the IMF and news agencies reported. The move was confirmed in IMF data and in statements cited by international media.
The repayment process accelerated in 2024–25 as Nigeria paid down a series of balances tied to pandemic-era and other facilities. Reports tracking the country’s outstanding IMF credit show the figure falling from earlier levels (often cited around $1.6 billion at various points) to zero after the most recent transactions. Local and regional outlets said the final tranches were settled in May 2025.
Reuters reported that Nigeria fully repaid a $3.4 billion emergency financing package obtained in April 2020 under the IMF’s Rapid Financing Instrument, with the IMF’s resident representative in Nigeria confirming repayment completed as of April 30, 2025. The agency also noted that Nigeria will continue to incur modest annual Special Drawing Rights (SDR) charges related to past credit.
IMF public data on members’ outstanding credit movements shows Nigeria no longer appearing among countries with IMF credit outstanding after these repayments, a technical confirmation that Nigeria has exited the fund’s active debt list. The IMF’s balance-of-payments/credit tables and the fund’s Nigeria country page provide the underlying numbers for monitoring such changes.
Nigerian government and financial officials framed the development as proof of improved fiscal management and a step that could bolster investor confidence, while analysts cautioned that removal from the IMF debt list does not eliminate other external liabilities or domestic fiscal challenges. Observers say the next priorities include rebuilding reserves, attracting sustainable investment, and managing public debt service on a wider portfolio of creditors.
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