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Just In: Nigeria Removed from List of Countries Indebted to IMF
Just In: Nigeria Removed from List of Countries Indebted to IMF
– The International Monetary Fund (IMF) has removed Nigeria from its list of debtor countries.
– Country now better placed to strengthen fiscal credibility, says presidential aide, O’tega Ogra
In a report titled: ‘Total IMF Credit Outstanding – Movement from May 01, 2025 to May 06, 2025,” obtained on the multilateral institution’s website yesterday, Nigeria was not listed among its debtors which has a total of 91 developing and least developed countries owing the Fund a total of $117,797,656,224 as at 6th of May 2025.
Total IMF credit outstanding refers to the total amount of unpaid and outstanding principal due to the Fund from its member countries. This includes both outstanding loans under current arrangements and those that have expired.
When contacted on the development yesterday, a top IMF official in Washington DC, who pleaded to remain anonymous, told THISDAY they were trying to confirm the reports, pointing out that Nigeria borrowed a rapid finance loan during the pandemic.
However, StatiSense, a data company which also confirmed on its X handle yesterday that Nigeria was no longer listed on the list of countries indebted to IMF, revealed that as at July 28, 2023, Nigeria was owing the Fund $1.61 billion, this was reduced to $1.37 billion as at January 5, 2024; $933.03 million as at July 10, 2024; $472.06 million as at January 8, 2025, before it was finally settled this month.
It was learnt that the value was converted from Special Drawing Rights (SDR), an international reserve asset created by the IMF to supplement the official reserves of its member countries, to US dollars.
In a post on his X handle, Senior Special Assistant to the President on Digital Engagement, Strategy, and New Media, O’tega Ogra, said the development was a signal of discipline, reform, and strategic reset by the Tinubu-Shettima administration in restructuring “our finances to enable us to be better placed for a prosperous future.”
He added: “As Nigeria closes the chapter on these legacy debt obligations, we are better placed to strengthen our fiscal credibility and show the world, and ourselves, that Nigeria is serious about managing our economy with responsibility and vision.
“Does this mean no more business with the IMF or other foreign lenders? No! Nigeria still remains a member of the IMF and can approach it at any time if the situation demands. This is definitely not a door slammed shut.
“Why? Because global partnerships like the IMF remain valuable allies, especially in a world defined by volatility and uncertainty. The difference now is that any future engagement will be proactive, not reactive, and will also be based on partnership, not dependence. Debt clearance today, reform momentum tomorrow.
“President Bola Tinubu will continue to prioritise long-term reforms with sound financial management for the benefit of our country and generations yet unborn. Nigeria is rising with clarity, capacity, and credibility, and this is why you should take a #BetOnNigeria.”
The IMF recently commended Nigeria’s ongoing economic reforms, describing them as bold measures that have helped stabilise the economy and laid the groundwork for future growth.
The IMF, in its recent 2025 Article IV Consultation Mission to Nigeria, last month, by a team led by Axel Schimmelpfennig, stated: “The Nigerian authorities have taken important steps to stabilise the economy, enhance resilience, and support growth. These reforms have put Nigeria in a better position to navigate the external environment.
“The macroeconomic outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy.
“Macroeconomic policies need to further strengthen buffers and resilience, reduce inflation, and support private sector-led growth.”
Schimmelpfennig in the statement had noted that the cessation of deficit financing by the CBN, the removal of costly fuel subsidies, and improvements in the foreign exchange market were major policy shifts that signaled a commitment to reform.
He stated: “The Nigerian authorities have taken important steps to stabilise the economy, enhance resilience, and support growth. The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved.”
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GEN CHRISTOPHER GWABIN MUSA SUPPORT INITIATIVE COMMENDS STATE-FEDERAL COLLABORATION IN ZAMFARA
GEN CHRISTOPHER GWABIN MUSA SUPPORT INITIATIVE COMMENDS STATE-FEDERAL COLLABORATION IN ZAMFARA
The Gen Christopher Gwabin Musa Support Initiative (GCGMSI) has commended the Zamfara State Government for its decisive contribution to security operations through the donation of newly acquired armoured personnel carriers (APCs), surveillance drones, and other critical operational equipment to troops and security agencies in the state.
This commendation was contained in a statement signed by the Convener of the GCGMSI, Ibrahim Dahiru Danfulani, Sadaukin Garkuwan Keffi/Betara Biu, and made available to the press.
The equipment was formally commissioned on Wednesday, February 18, by the Grand Patron of the GCGMSI and Minister of Defence, General Christopher Gwabin Musa, OFR (rtd.), in a ceremony at the Government House, Gusau. The event was attended by senior military officers, heads of security agencies, and top officials of the Zamfara State Government.
The GCGMSI, in its statement, hailed the donation as a “transformative and timely intervention” that aligns perfectly with its core objective of advocating for and supporting tangible measures that enhance the operational capacity and welfare of Nigeria’s security forces. The Initiative praised Governor Dauda Lawal’s administration for moving beyond rhetoric to actionable, material support, describing the move as a “blueprint for state-level collaboration in national security.”
“The provision of these assets by the Zamfara State Government is a testament to visionary leadership and a profound commitment to the peace and stability of its people,” the GCGMSI statement read. “It represents the exact kind of synergistic partnership between state and federal authorities that the GCGMSI champions. This initiative will significantly close operational gaps, boost the confidence of our gallant troops, and send a strong message to criminal elements.”
Speaking at the commissioning, General Musa emphasized that sustained collaboration is indispensable in confronting the nation’s evolving security challenges. He specifically commended Governor Lawal for his proactive support.
“Governor Dauda Lawal has demonstrated exemplary leadership and an unwavering dedication to the security of Zamfara State,” the Defence Minister stated. “The provision of these armoured vehicles, surveillance drones, and other operational equipment will undoubtedly boost the morale and operational effectiveness of our troops and other security agencies on the ground. This is a commendable effort that should be emulated by others.”
The newly commissioned assets, which include multiple APCs and advanced surveillance drones, are expected to dramatically enhance the mobility, protection, intelligence-gathering, and rapid response capabilities of security forces, particularly in the state’s remote and difficult terrains where anti-banditry operations are ongoing.
In his remarks, Governor Lawal reiterated his administration’s steadfast commitment to being a reliable partner in the security architecture. He urged security agencies to deploy the new resources responsibly and effectively to safeguard lives and property.
The Federal Government, through the Ministry of Defence, reaffirmed its commitment to continuing and deepening such partnerships with state governments across the nation to strengthen coordination and resource allocation in the collective fight against insecurity.
The GCGMSI concluded its statement by urging other state governments to take a cue from Zamfara’s “bold and pragmatic” approach, affirming that such concrete support is vital for achieving lasting peace and security across Nigeria.
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Ramadan 2026: Let’s Be United, Shina Akanni Urges Muslims.
Ramadan 2026: Let’s Be United, Shina Akanni Urges Muslims.
As Muslims all over the world begins the 30 days compulsory fasting and prayer today,top Fuji Musician Aare Sir Shina Akanni Aroworeyin Scorpido has congratulates them for witnessing another month of Ramadan.
Akanni advised them to follow the teachings of the the Holy Prophet Muhammad (SAW) which is peaceful co existence among themselves and their neighbor ‘because Islam is Religion of peace”.
He said the month of Ramadan is an holy month therefore Muslims should try as much as they can to maintain peaceful coexistence among themselves and others and that they should see themselves as ambassador of peace.
While praying for Nigeria,Aare Sir Shina Akanni Aroworeyin Scorpido said he believes that there will be an economic turnaround soon because what’s is happening now are signs of thought times that never last “if we can pecevere things will get better”.
The Scorpido crooner who recently released a hip hop single titled “Magbelo” said he is currently working on a complete album which will be released before the end of the year.
Aare Sir Shina Akanni Aroworeyin Scorpido whose last album ‘ABCD” is still in hot demand said that his next album will be a pot pouri of all kinds of music because his brand of Fuji music is a blend Fuji , Hip-hop,Apala ,Highlife and others.
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GEN CHRISTOPHER GWABIN MUSA SUPPORT INITIATIVE HAILS GOVERNOR UBA SANI’S APPOINTMENT AS RENEWED HOPE AMBASSADOR
GEN CHRISTOPHER GWABIN MUSA SUPPORT INITIATIVE HAILS GOVERNOR UBA SANI’S APPOINTMENT AS RENEWED HOPE AMBASSADOR
The Gen Christopher Gwabin Musa Support Initiative (GCGMSI) has extended its warm congratulations to His Excellency, Mallam Uba Sani, the Executive Governor of Kaduna State, following his recent appointment as a Renewed Hope Ambassador and Deputy Director-General for Party Outreach, Engagement, and Mobilisation by the All Progressives Congress (APC).
This felicitation was formally conveyed in a statement signed by the Initiative’s Convener, Ibrahim Dahiru Danfulani, Sadaukin Garkuwan Keffi/Betara Biu, and disseminated to the press.
The statement highlighted that the Grand Patron of the GCGMSI, His Excellency General Christopher Gwabin Musa, OFR, Minister of Defence of the Federal Republic of Nigeria, received the news of the appointment with great pride but without surprise. According to the statement, General Musa expressed unwavering confidence in Governor Uba Sani’s proven capability and salient leadership qualities, affirming that the Governor is eminently equipped to deliver on every task entrusted to him.
The Grand Patron further extended profound appreciation to the President and Commander-in-Chief of the Armed Forces, His Excellency Asiwaju Bola Ahmed Tinubu, GCFR, for recognising and finding Governor Uba Sani worthy of this critical national assignment. The appointment, which takes effect immediately, was made by the President in his capacity as the leader of the APC, citing the Governor’s exceptional organisational abilities and strategic acumen.
In his new role, Governor Sani is tasked with working in close collaboration with the Director-General of the Renewed Hope Ambassadors and the party hierarchy, including the National Chairman of the APC. His primary mandate is to ensure harmony, inclusiveness, and strategic coordination across all levels of the party’s mobilization and engagement architecture, a vital function for advancing the political agenda.
Demonstrating its commitment to national service and effective governance, the GCGMSI, under the direct directive of its Grand Patron, General Musa, has officially mobilised its formidable structure. The Initiative has pledged the full deployment of its extensive network, seasoned personnel, and robust operational framework to assist and support Governor Uba Sani in the successful execution of his new responsibilities.
The Gen Christopher Gwabin Musa Support Initiative, renowned for its disciplined organisation, widespread grassroots penetration, and capacity for large-scale civic mobilisation, stands ready as a pivotal force. This move underscores the GCGMSI’s pivotal role as a key support system for national development initiatives and its unwavering dedication to fostering unity and progress under the Renewed Hope agenda.
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