Nigeria has successfully completed the repayment of the $3.4 billion loan it secured from the International Monetary Fund (IMF) in 2020, marking a significant milestone in the country’s economic recovery efforts.
The final tranche of the principal amount was paid on April 30, 2025, according to official sources familiar with the transaction.
The loan, which was approved by the IMF under its Rapid Financing Instrument (RFI) during the COVID-19 pandemic, was intended to cushion Nigeria’s economy from the devastating impact of the global health crisis, boost foreign reserves, and support critical spending on health and social protection.
At the time of approval, the facility helped Nigeria avoid a balance of payments crisis amid falling oil revenues and economic uncertainty.
With the completion of the repayment, economic analysts believe the development may strengthen Nigeria’s credit outlook and investor confidence in the long term.
The Central Bank of Nigeria (CBN) and the Ministry of Finance have yet to issue a formal statement on the final repayment.
This development comes as Nigeria intensifies efforts to diversify its economy, reduce debt service costs, and implement key fiscal and monetary reforms.
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