Nigeria Cleared from IMF Debtor List After Loan Repayment

Nigeria has been removed from the International Monetary Fund's (IMF) list of debtor countries after fully repaying its outstanding credit obligations, marking a significant milestone in the country's economic reform efforts under President Bola Tinubu. The latest IMF report showed Nigeria is no longer among the 91 developing and least developed countries collectively owing $117.8 billion to the Fund. Nigeria's debt to the IMF decreased steadily over the past two years, dropping from $1.61 billion in July 2023 to full repayment by May 2025. Presidential officials hailed the repayment as a strategic reset that strengthens Nigeria's fiscal credibility and reflects the administration’s commitment to fiscal discipline and long-term sustainability. However, economists caution that despite this positive development, Nigeria still faces considerable domestic debt pressures and economic challenges such as inflation, meaning that the debt clearance does not fully alleviate the country’s financial burdens. The repayment primarily settled loans acquired during the COVID-19 pandemic, including emergency funding, but experts suggest the government’s future fiscal management will be crucial for sustained economic stability.