The Federal Government of Nigeria has completed the repayment of the $3.4 billion emergency loan it received from the International Monetary Fund (IMF) during the height of the COVID-19 pandemic
The repayment, finalized on April 30, 2025, comes ahead of schedule and reflects Nigeria’s commitment to meeting its international financial obligations. The loan, obtained in April 2020 under the IMF’s Rapid Financing Instrument, was intended to cushion the country against the economic shocks caused by the pandemic and a sharp drop in global oil prices.
Minister of Information, Mohammed Idris, confirmed the development, describing it as a significant step toward restoring confidence in Nigeria’s economic management. “This repayment is a clear indication of our dedication to sound fiscal discipline,” he stated.
Although the principal has been fully settled, Nigeria will continue to make annual interest payments of around $30 million in Special Drawing Rights (SDRs) to the IMF.
Analysts view the early repayment as a positive signal to global investors, highlighting Nigeria’s efforts to stabilize its economy and regain credibility on the international stage.
Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates
 during the height of the COVID-19 pandemic){kind=link}
Okay