The Federal Government of Nigeria has fully settled its $3.4 billion COVID-19 loan obtained from the International Monetary Fund (IMF). As a result, Nigeria has been removed from the IMF’s credit outstanding list for the period of May 1 to May 6, 2025. According to the latest data from the international lender, at least 90 countries owe a combined $117.79 billion—Nigeria is no longer among them. The IMF disbursed Special Drawing Rights (SDR) amounting to 2.45 billion to Nigeria in 2020 as part of the Rapid Financing Instrument (RFI) during the COVID-19 crisis. SDRs are a form of international reserve currency created by the IMF. Repayment was completed over a five-year period: SDR613.62 million in 2023, SDR1.22 billion in 2024, and another SDR613.62 million in 2025. This fulfilled the repayment terms under the RFI. Former Presidential aide Tolu Ogunlesi, who served during the loan period, confirmed via Twitter on Thursday that the total SDR2.45 billion repayment marks the full clearance of the $3.4 billion IMF loan.