Nigeria has successfully repaid its entire $3.4 billion emergency loan from the International Monetary Fund (IMF), which was secured in April 2020 to combat the economic impact of the COVID-19 pandemic. The final payment was made ahead of schedule on April 30, 2025.
The loan was granted under the IMF’s Rapid Financing Instrument, designed to help Nigeria navigate the severe economic challenges triggered by the pandemic, including falling oil revenues and a recession. Repayment was completed in three phases: SDR 613.62 million in 2023, SDR 1.22 billion in 2024, and SDR 613.62 million in 2025.
