Nigeria not beneficiary of recent IMF Debt relief – Finance Minister

The Federal Government of Nigeria has confirmed that Nigeria is not a beneficiary of the recent International Monetary Fund (IMF) debt relief for 25 countries.

In a statement released in Abuja yesterday, Zainab Ahmed, the Honourable Minister of Finance, Budget and National Planning, stated: “It is true that Nigeria is not a beneficiary of the recent IMF debt relief for 25 countries.”

“This is because, as stated in the IMF Executive Board statement, the relief ‘provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months.”

Since Nigeria, according to her, is not indebted to the IMF, there is no outstanding debt obligation to be forgiven.

Ahmed disclosed that Nigeria’s application for new IMF financing is under consideration and receiving attention.

The new application is for financing under the Rapid Financing Initiative (RFI).

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It is a loan to be paid back.

It is not an IMF program. Nigeria is entitled to access up to 100 percent of its quota under the RFI.

Ahmed, speaking on the current financial position of the country with the IMF, said: “Nigeria’s current financial position at the IMF is public information on IMF website.”

HOPE MOSES – ASHIKE

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.