From Borrower To Boss: Nigeria Pays Off IMF In Full, Presidency Reacts With Pride

Nigeria has fully repaid its outstanding debt to the International Monetary Fund (IMF), officially removing itself from the organization’s list of debtor nations.

As reported by Naija News, Nigeria’s debt to the IMF stood at $1.61 billion in 2023. However, through a structured repayment plan under President Bola Tinubu’s administration, the debt steadily reduced—dropping to $472 million by January 2025—and has now been completely cleared as of May 2025.

This milestone was confirmed on the IMF’s official website, which no longer lists Nigeria among its debtors.

The update was also echoed by O’tega Ogra, Senior Special Assistant to President Tinubu on Digital Engagement and Strategy, via a statement on his account. Ogra described the repayment as a clear sign of “discipline, reform, and a strategic financial reset” by the Tinubu-Shettima government.

Referencing a previous post on economic reforms, Ogra wrote:

“According to the latest data from the IMF as of May 6, 2025, Nigeria has cleared all its legacy debt with the organization. This move strengthens our fiscal credibility and reflects our commitment to responsible economic management.”

He emphasized that despite repaying its debts, Nigeria remains an IMF member and retains access to future financial support if needed.

“This is not a door closed,” he clarified. “We are simply better positioned now to invest in sustainable infrastructure and policies for long-term growth.”