Nigeria has officially cleared its outstanding debt to the International Monetary Fund (IMF), exiting the lender’s debtor list for the first time in several years. The IMF confirmed the move in a recent report, marking a key milestone in President Bola Tinubu’s fiscal reform agenda. Nigeria’s debt to the IMF stood at $1.61 billion as of July 2023, but dropped consistently until it was fully repaid by May 2025. Presidential aide O’tega Ogra described the development as a “strategic reset,” reflecting stronger fiscal discipline and long-term economic planning. The move is expected to boost Nigeria’s credit rating, lower borrowing costs, and attract investor confidence, as the country shifts from reactive debt dependence to proactive global financial engagement.
