• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FG Confirms Full Repayment of $3.4bn COVID-19 IMF Loan

by Jonathan Nda-Isaiah
4 months ago
in News
Minister of Information and National Orientation, Mohammed Idris.

Minister of Information and National Orientation, Mohammed Idris.

Share on WhatsAppShare on FacebookShare on XTelegram

The Federal Government has confirmed that Nigeria has fully repaid the $3.4 billion loan obtained from the International Monetary Fund (IMF) during the COVID-19 pandemic.

Advertisement

Speaking to State House correspondents after Monday’s Federal Executive Council (FEC) meeting, the Minister of Information and National Orientation, Mohammed Idris, said the repayment, ordered by President Bola Ahmed Tinubu, reflects the administration’s dedication to financial discipline, even on liabilities inherited from previous administrations.

“President Tinubu, as usual, sees the government as a continuum. He directed that the government exit that debt, and I can report today that Nigeria has indeed exited from that IMF facility,” Idris said.
“This move has boosted our credibility globally. It reassures foreign investors of Nigeria’s capacity to meet its debt obligations and improves our rating across international financial platforms.”

He acknowledged public scepticism that trailed the announcement but stressed that the repayment was real and complete.

“I saw some cynicism in some quarters questioning whether this is true. I can confirm it: the debt has been paid in full,” he added.

RELATED

Tinubu Departs Abuja For Japan

Tinubu Departs Brazil En Route Abuja

1 hour ago
JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

1 hour ago
ADVERTISEMENT

Beyond fiscal matters, the Council also discussed the increasing role of private sector participation in infrastructure development, especially road construction.

Idris said the Council recognised a growing appetite from private players to fund critical projects and directed relevant government agencies to create an enabling environment for such partnerships.

“The government is saying there’s an increasing need for private sector players to participate actively in national economic growth. Wherever the private sector can deploy its funds to support infrastructure, particularly roads, such opportunities should be encouraged,” he said.

ADVERTISEMENT

In a related development, the FEC expressed grave concern over the rising incidents of vandalism and theft of public infrastructure, especially the illegal removal of metals from bridges and other government-owned installations.

Idris disclosed that President Tinubu has directed the Attorney-General of the Federation to review relevant laws and consider stricter measures to criminalise the theft of government assets.

“People, under the cover of night, remove metallic infrastructure parts from bridges and other assets and sell them to buyers who recycle and reintroduce them into the market. This criminal enterprise is on the rise,” he said.

While some legal provisions already exist to address such crimes, the minister explained that the government is looking at those laws in greater depth to ensure more effective enforcement and deterrence.

Additionally, the Minister hinted at a new governance rhythm, revealing that FEC meetings may now be held more frequently to accelerate decision-making and address long-standing issues requiring urgent executive attention.

“Council has decided to fast-track its decision-making process. We will sit again in two days to consider more pressing matters,” he said, noting the President’s desire to clear backlogs and ensure responsive governance.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Bola Ahmed TinubuFederal Executive Council (FEC)Mohammed Idris
SendShare10175Tweet6360Share
ADVERTISEMENT
Previous Post

Benue: Gwer West LG Under Curfew To Combat Insecurity

Next Post

SCOAN Sets For South Africa Revival Crusade

Jonathan Nda-Isaiah

Jonathan Nda-Isaiah

You May Like

Tinubu Departs Abuja For Japan
News

Tinubu Departs Brazil En Route Abuja

2025/08/27
JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List
Entertainment

JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

2025/08/27
Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada
News

Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada

2025/08/27
Missing Crude: CSOs Dismiss Whistleblower’s Claims, Allege Extortion Attempts
News

Niger Delta People Live On $2 Daily Despite $1trn Oil Revenue — INC

2025/08/27
Kola Confesses Feelings To Dede
Entertainment

BBNaija10: Dede, Kola Spark Intimacy Rumours After Late-night Moment

2025/08/27
IGP Redeploys FCT, Delta, Rivers Police Commissioners
News

IGP Speaks On ‘Cattle Theft’ As Terrorism Financing At INTERPOL Conference

2025/08/27
Leadership Conference advertisement

LATEST

Tinubu Departs Brazil En Route Abuja

Tennis Scoring System

JUST-IN: Davido, Rema, Others Top As AFRIMA Releases 2025 Nominations List

Federal Gov’t Orders Shutdown Of Illegal Gold Mining Site In Gwagwalada

Niger Delta People Live On $2 Daily Despite $1trn Oil Revenue — INC

BBNaija10: Dede, Kola Spark Intimacy Rumours After Late-night Moment

IGP Speaks On ‘Cattle Theft’ As Terrorism Financing At INTERPOL Conference

Reverse Abia’s New Tax Regime, It’s Stifling Businesses, Ikonne Tells Gov Otti

‘Tinubu Directed Me To Work With You’, New APC Chair Yilwatda Tells Ganduje

Dafinone Felicitates Gov Oborevwori, Deltans On 34th Anniversary

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.