349
By Daniel Adaji
Nigeria enters 2026 with no outstanding loans to the International Monetary Fund (IMF), according to the latest update on the country’s financial position, obtained by Pointblanknews.com on Monday.
The update, reflecting Nigeria’s IMF standing as of December 31, 2025, shows that while the country continues to maintain financial ties with the Fund through quotas, reserves, and Special Drawing Rights (SDRs), it does not owe any unpaid credit or loans. The only obligations remaining are annual charges, which the IMF projects will run through 2030.
Nigeria’s IMF quota stands at SDR 2,454.50 million, representing 100 per cent of its shareholding in the Fund. Of this amount, the IMF holds SDR 2,279.09 million, or 92.85 per cent of the quota, while the country’s reserve tranche position, that is, funds Nigeria can access without conditions, remains at SDR 175.47 million, accounting for 7.15 per cent of its quota.
In the IMF’s SDR Department, Nigeria’s net cumulative SDR allocation totals SDR 4,027.90 million, with current holdings of SDR 3,145.22 million, representing 78.09 per cent of the allocation. These holdings strengthen Nigeria’s external reserves and allow the country to exchange SDRs for hard currency if needed.
The IMF confirms that Nigeria does not hold any outstanding purchases or loans, indicating that the country has fully settled past obligations. Nigeria last accessed outright IMF financing through the Rapid Financing Instrument (RFI) in April 2020, drawing SDR 2,454.50 million, which it has fully repaid.
Historical records show that Nigeria had approved standby arrangements between 1989 and 2001, but the country did not draw on these facilities. These arrangements do not create any current financial obligations.
Even without active loans, Nigeria faces modest annual charges on its IMF account. The Fund projects these charges at SDR 23.63 million in 2026, SDR 23.53 million in 2027, SDR 23.54 million in 2028, SDR 23.52 million in 2029, and SDR 23.53 million in 2030. The IMF notes that these charges reflect routine costs of membership and past resource usage, not loan repayments.
Nigeria does not participate in the Heavily Indebted Poor Countries (HIPC) Initiative, the Multilateral Debt Relief Initiative (MDRI), or the Catastrophe Containment and Relief (CCR) framework, highlighting that it does not rely on IMF debt relief programmes.