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Remember my Easter Special, in which I spoke about our improved debt management and financial restructuring, which has given us the capacity to invest more in sustainable infrastructure and policies? Yes, there is an update.
According to the latest data on the International Monetary Fund Website as of today, May 6, 2025, Nigeria has officially cleared all its legacy debt with the IMF (LINK - https://imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL)
What does this mean?
It is 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
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
@officialABAT
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
~ Otega ‘The Tiger’ Ogra
#StatehouseDigital #RenewedHope #NigeriaRising #GlobalPartnerships
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