The most recent data published by the International Monetary Fund (IMF) shows that Nigeria owes a total of SDR125.99 million, representing charges and interest on loans it has drawn.
SDR” means “Special Drawing Rights” and refers to a form of currency used to value funds borrowed by different beneficiary countries by the IMF.
According to the currency exchange platform XE, each SDR unit was worth N2,180 at the time of this report.
According to the latest update from the IMF, published on April 30, 2025, Nigeria is expected to pay SDR22.35 million in charges and interest in 2025.
For 2026 and 2027, the figure is projected to remain steady at SDR25.91 million. In 2028, the amount rises slightly to SDR25.92 million, before dipping marginally to SDR25.90 million in 2029.
In total, Nigeria’s outstanding charges and interest to the IMF amount to SDR125.99 million. At an exchange rate of N2,180 per Special Drawing Right (SDR), based on XE currency conversion, this translates to approximately N274.66 billion.
Nigeria’s debt to the IMF originates from April 2020, when the country secured a loan approval of SDR2.454 billion.
IMF debt repayments are made up of two components: the principal and associated charges or interest.
Further breakdown shows that Nigeria was not scheduled to begin repaying the principal until 2023, when SDR613.63 million became due. This was followed by a larger repayment of SDR1.227 billion in 2024, and another SDR613.63 million scheduled for 2025.
Before principal repayments commenced, Nigeria paid only charges and interests totalling SDR13.22 million in 2020, SDR25.88 million in 2021, and SDR25.89 million in 2022.
With principal repayments starting in 2023, Bola Ahmed Tinubu—who assumed office that year—has overseen the ongoing debt servicing.
As of April 30, 2025, IMF data confirms that Nigeria has met its scheduled principal repayments, but still owes SDR125.99 million in charges and interest.
