By Emeka Blast 
Nigeria cleared-out her debt successful from IMF
Yes, Nigeria has been officially removed from the International Monetary Fund’s (IMF) list of debtor countries after fully repaying its $3.4 billion emergency loan received during the COVID-19 pandemic. The IMF confirmed that as of April 30, 2025, Nigeria had completed the repayment of the loan, which was initially disbursed in April 2020 under the Rapid Financing Instrument to help the country navigate the economic challenges posed by the pandemic.Following this repayment, Nigeria no longer appears on the IMF’s “Total Credit Outstanding” report as of May 6, 2025, joining countries like Switzerland, Singapore, China, and New Zealand that are not indebted to the IMF.
However, it’s important to note that while the principal loan amount has been cleared, Nigeria is still obligated to pay approximately $30 million annually in Special Drawing Rights (SDR) charges through 2029. These charges are standard interest payments associated with the loan agreement and are not considered outstanding debt.
The successful repayment and removal from the IMF’s debtor list have been hailed as a significant milestone for Nigeria, reflecting the country’s commitment to fiscal responsibility and economic reform. Analysts suggest that this development could enhance Nigeria’s credit rating, reduce borrowing costs, and boost investor confidence.