Nigeria Clears IMF Debt, Removed From List Of Indebted Countries

Nigeria has officially cleared all outstanding debts owed to the International Monetary Fund (IMF), leading to its removal from the list of countries currently indebted to the global financial institution.

This development marks a turning point in Nigeria’s economic management strategy, reflecting a deliberate shift toward fiscal responsibility and reduced reliance on international borrowing. The IMF confirmed the removal in its latest update, signaling improved confidence in Nigeria’s economic trajectory.

Experts believe this move could bolster investor confidence, strengthen the naira, and give the country greater autonomy in shaping its monetary and fiscal policies. It also aligns with the federal government’s broader agenda to stabilize the economy and cut down on external liabilities.

While challenges remain, particularly in areas such as inflation and youth unemployment, Nigeria’s exit from IMF debt is a notable achievement. It presents an opportunity for the country to refocus on domestic revenue generation, structural reforms, and sustainable development.

The Ministry of Finance has yet to release a formal statement, but government sources indicate that more updates will be provided in the coming days.