The Nigerian Government has fully repaid its $3.4 billion Covid-19 assistance received from the IMF under the IMF’s Rapid Financing Instrument (RFI).
Under the terms of the initial agreement, a repayment period of 5 years, meaning 2020 to 2025, and a moratorium of 3.25 years – a grace period until Q3 2023 was given before Nigeria had to start repaying.
As of May 2025, the loan has been fully repaid following the commencement of repayment in June 2023.
Repayment Schedule:
Outstanding as at June 30, 2023: 2,454,500,000
Dec 31, 2023: 1,840,875,000
June 30, 2024: 1,227,250,000
March 31, 2025: 306,810,000
As of May 7, 2025; the debt has now been fully repaid.
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