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The Federal Government has confirmed full payment of $3.4 billion loan received from the International Monetary Fund, IMF, during the COVID-19 pandemic.
The Minister of Information and National Orientation, MOHAMMED IDRIS, confirmed this while briefing newsmen yesterday after the Federal Executive Council, FEC, meeting in Abuja.
Recall that the Nigerian government last week officially removed itself from the International Monetary Fund, IMF,’s debtor list, amid the full settlement of its outstanding credit obligations.
Reports say the journey towards clearing the debt reportedly started in 2023, when the nation’s IMF debt stood at $1.61 billion but through disciplined fiscal reforms, it steadily declined, reaching $472 million by January 2025, before being fully repaid by May of the same year.
The semi-final fixtures for the ongoing U-20 Africa Cup of Nations have been confirmed, following the completion of the quarter-final ties on Monday. Egypt survived a late scare to send Ghana packing from the tournament with a 1-0 win, while Morocco edged debutants Sierra Leone 1-0 in extra time to book their place in the semi-finals. The first semi-final will see Morocco take on Egypt, which will be played on […]
