Pakistan, May 15 -- Nigeria has officially paid off its $3.4 billion loan to the International Monetary Fund (IMF), becoming debt-free to the global financial institution. The repayment marks a major economic milestone, as the country clears a loan it took to manage the impact of the COVID-19 pandemic. This loan was granted in April 2020 under the IMF's Rapid Financing Instrument, designed to assist countries during urgent financial needs.

The Nigerian government completed the full repayment by April 30, 2025-months ahead of the expected schedule. This early repayment reflects stronger financial discipline and an improving economic outlook. As a result, Nigeria has now been removed from the IMF's list of debtor countries, boosting invest...