NewStats: 3,259,455 , 8,170,173 topics. Date: Sunday, 25 May 2025 at 06:00 AM 4jf1z

SSA to President Tinubu Otega Ogra Writes:

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://www.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 istration 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

Source: https://x.com/otegaogra/status/1919843190364111129?s=46

First thing those people will say is, it is a lie from the pit of hell, and will start searching everywhere to confirm the report. While searching, they will be praying and fasting that let it not be true.

When they finally discover it is true, then come the next step: they will now say, is it his money he used in clearing the debt? I sabi those people even beyond themselves.

• World Bank: $17.81 billion USD 

Nigeria has made significant strides in reducing its IMF debt.

While its obligations to the World Bank have increased due to new loan approvals aimed at ing various sectors.

We have paid 306 million dollars owed IMF. But we have borrowed new loans of $13.5 billion bringing our total external debt to $45 billion

If Nigeria pays only 306 million dollars every 2 years as Tinubu just did we would still owe over $45 billion dollars at the end of his first 4 years. Because the interest on the remaining $45 billion is up to $300 million dollars.

In the world of Debts, All Tinubu did was service the loan, he only paid the interest !!!!

We still owe World Bank and others close to $45 Billion dollars and we are still borrowing more....We still owe over 150 x 306 million.

We still owe $5 billion dollars to China. We have borrowed $13.5 billion while paying back 300 million to IMF.

Stop spreading news to deceive the citizens. When you make announcements like this. Paint the whole picture.

That's what ability and transparency means.

Sad news for agbotikuyo people, they will come n rubbish this news now

Anyone not enthused by this good news, is under a weight heavier than human comprehension. It is advisable for us as citizens to be responsible, able and objective as much as possibly as the spirit of patriotism demands of us. We ought to follow the data, statistics, processes as much as possible with an open mind. Neutralizing negative perceptions and a sharp resistance to anything that come off as positive about the country. This is a very great feat and deserves a tea party. The very first time in history we are off IMF red books. As the media aide rightly put it, we will still do business with IMF but in a proactive manner going forward. Let's follow the processes and statistics meticulously and disengage from media propaganda aimed at disparaging the country. Hopefully, we are into the era of reimagining while we focus on reducing other financial obligations and boosting the country's industrial capacities. God bless Nigeria.

Sharpsharp00123:
Sad news for agbotikuyo people, they will come n rubbish this news now

I will be waiting to see the bunkumm they will spiiit on this thread.

Update: For anyone willing to confirm, check the IMF website below:

https://www.imf.org/external/np/fin/tad/balmov2.aspx?type=TOTAL

Legendhero, glad we put those bitter people where they belong. Trust me, if we had not disputed that fake news on that particular thread, the Mods would have pushed it on front page. Believe me, I never knew we had payed off our debts until we had to go on IMF Website to factcheck and boom! it hit us that we have zero outstanding debts. Trust me , this is the kind of news they don't want to hear, they will be praying that the night should be long so that they won't quickly wake up to see this kind of news all over their faces. These people hate the country but we will show them that God hates haters too.

This is good news.

femisplash:
Anyone not enthused by this good news, is under a weight heavier than human comprehension. It is advisable for us as citizens to be responsible, able and objective as much as possibly as the spirit of patriotism demands of us. We ought to follow the data, statistics, processes as much as possible with an open mind. Neutralizing negative perceptions and a sharp resistance to anything that come off as positive about the country. This is a very great feat and deserves a tea party. The very first time in history we are off IMF red books. As the media aide rightly put it, we will still do business with IMF but in a proactive manner going forward. Let's follow the processes and statistics meticulously and disengage from media propaganda aimed at disparaging the country. Hopefully, we are into the era of reimagining while we focus on reducing other financial obligations and boosting the country's industrial capacities. God bless Nigeria.

I love this, God bless you bro. Don't bother yourself, they won't listen, to them, everything has to be bad and negative so that they can gloat and self-service over it for election purpose. They are so deluded to think negative news about their country will increase their chances of winning the election. But God who dealt with wicked neighbors will continue dealing with them.

We have a serious and capable president in charge. Wait for the 5th columnists to come and tell us how this doesn't change the price of akpu.

LegendHero:
SSA to President Tinubu Otega Ogra Writes:


CC: Mynd44

Source: https://x.com/otegaogra/status/1919843190364111129?s=46

Why all these lies because of FAILURE.

malali:
• World Bank: $17.81 billion USD 

Nigeria has made significant strides in reducing its IMF debt.

While its obligations to the World Bank have increased due to new loan approvals aimed at ing various sectors.

We have paid 306 million dollars owed IMF.

But we owe World Bank close to $18 Billion dollars and we are still borrowing more....We still owe over 60 x 306 million.

We owe $5 billion dollars to China.

Stop spreading news to deceive the citizens. When you make announcements like this. Paint the whole picture.

Thats what ability and transparency means.

This one cannot even hide his bitterness, smh. You clearly see and can read the news that we're talking about IMF but you're beating around the bush talking about World bank, China, bla bla bullshit. Maybe I am mistaking that you can see, maybe you can't, or I am mistaking that you can read maybe you lack comprehension capacity.

Putindbutt:

This one cannot even hide his bitterness, smh. You clearly see and can read the news that we're talking about IMF but you're beating around the bush talking about World bank, China, bla bla bullshit. Maybe I am mistaking that you can see, maybe you can't, or I am mistaking that you can read maybe you lack comprehension capacity.

Bitterness ?
If you pay $5000 and then borrow $2 million dollars.
Who are you fooling ?

He paid 306 million but he has borrowed $13.5 billion since he assumed power.
In addition to the outstanding.Bringing everything closer to $46 billion.
And Oil prices are falling daily.

malali:
• World Bank: $17.81 billion USD 

Nigeria has made significant strides in reducing its IMF debt.

While its obligations to the World Bank have increased due to new loan approvals aimed at ing various sectors.

We have paid 306 million dollars owed IMF.

But we owe World Bank close to $18 Billion dollars and we are still borrowing more....We still owe over 60 x 306 million.

We owe $5 billion dollars to China.

Stop spreading news to deceive the citizens. When you make announcements like this. Paint the whole picture.

Thats what ability and transparency means.

Bad bellee.

How much did Tinubu met world bank debt in Q2 2023?

Oya tell us so your own igborancee can be glaring to you.

ElSudani:
We have a serious and capable president in charge. Wait for the 5th columnists to come and tell us how this doesn't change the price akpu.

Congratulations Nigerians. At last, we have turned a corner, ed the critical stage and now on the upward trajectory of developing our economy on a solid footing.
We have left Egypt, ed the Red Sea, as well as the Rubicon. The benefits of the economic reforms like removal of fuel subsidies, harmonization of the exchange rates, etc will now become more visible for all to see.
Kudos to President Bola Ahmed Tinubu.

🥱

malali:


Bitterness ?
If you pay $5000 and then borrow $2 million dollars.
Who are you fooling ?

Let me use your logic, so we borrowed $2million from IMF and we paid $5000. And then, our IMF debts was wiped off?. From your logic, we were supposed to still be owing $1,995,000 but we have no debts left. How come?. Na you help us pay am?. Guy, I don't even want to talk about how ridiculous you sound right now. Abeg commot for road make I see better people.

LegendHero:

Bad bellee.

How much did Tinubu met world bank debt in Q2 2023?

Oya tell us so your own igborancee can be glaring to you.

Abeg, this thread must not be diverted into entertaining bitter people. It's a thread to celebrate Nigeria. Ignoring wailers is the best treatment on this thread.

Bobloco is cooking and steaming his usual balderdash. Bitter Obi's G&H

bentenny:
🥱

They gave you link to the website, you left it dey follow fake AI. These are the followers of Obi.

zero8zero:

They gave you link to the website, you left it dey follow fake AI. These are the followers of Obi.

I know you cannot read but try to ask one of your educated sycophants with an ounce of brain cells still left to go through the AI link which is from IMF!

From the day Mr Tinubu was sworn in and declared fuel subsidy was gone, and swept away the fraudulent 2 - tier exchange rate system, I told a family member, this is the best President Nigeria has ever had.

This was in those early days of fuel shortage and skyrocketing prices when virtually everyone to a man hated Mr Tinubu. Even then, as a lone voice, I could see it that this man was different.

I have also said it repeatedly here on Nairaland that when you look at all the reforms, from local government autonomy (it will happen), reduction of debt repayment to revenue ratio from over 90% to 65%, Student loan, Lagos- Calabar coastal road, reform of the petroleum sector, and many more like that, this is the best leader we have had for a long time, perhaps since independence 65 years ago.

I remain absolutely convinced that if we allow this fearless Southern leader to lead this country and give him a breathing space (he doesn't appear to care about the pressure anyway), this man has the potential to set Nigeria on a strong economic foundation for the future.

Good news. Gradually we’ll get better.

But no country in the world can do without debt.

bentenny:

I know you cannot read but try to ask one of your educated sycophants with an ounce of brain cells still left to go through the AI link which is from IMF!

See this under the mango tree half-baked graduate. Which stupid AI is from IMF. A website link was given to you, open it and clear your bitter mind but you think typing on grok is your own reasonable way to a website. And these are the followers of Obi. It's a shame.

The same way they told us Warri refinery is now working.
Not until I see an official statement from IMF, believe these propaganda Government at your own peril.
They can tell any lie to score cheap marks and cool down tension.

Cheers to more progress and success for our dear country.

Why won't you be happy the country is doing well?

bentenny:
🥱

—Let’s use your AI. It agreed that as at Q4 2024, our outstanding loan is $800million.

—When President Tinubu assumed office at Q2 2023, Nigeria owed the IMF over $3 billion.

—Meaning $2.2 billion was repaid over 6 quarters (Q2 2023 to Q4 2024). This equals an average quarterly repayment of $366 million.

—As of Q2 2025, two more quarters have ed:
If we maintained the same repayment pace, an additional $732 million would have been paid.

—Therefore: The remaining $800 million from Q4 2024 would now be fully repaid, or at most, less than $70 million remains outstanding.

Lastly: When you have the direct IMF link, why do you need an AI to reconfirm? Don’t you know AI source for data just like you and you are even faster if you have the actual live source.