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- The Central Bank of Nigeria (CBN) has said that Nigeria serviced outer debts with $2.01 cardinal successful the archetypal 4 months of 2025
- According to CBN data, Nigeria’s outer indebtedness work deed its highest successful March with $632.36 million, the highest successful the year.
- Also, the state experienced a important betterment successful diaspora remittances during the reappraisal period
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
Data from the Central Bank of Nigeria (CBN) has shown that Nigeria spent astir $2.01 cardinal connected outer indebtedness work betwixt January and April this year.
The continued fulfilment of these obligations shows Nigeria’s committedness to gathering its planetary fiscal responsibilities and maintaining capitalist confidence.
Source: Getty Images
A breakdown of outer indebtedness servicing
An investigation of CBN’s information connected planetary payments disclosed that outer indebtedness servicing started successful 2025 astatine $540.67 cardinal successful January.
In February, payments dropped to $276,73 million, earlier rising successful March to $632.36 million, the highest successful the year.
In April, the inclination continued, with Nigeria servicing loans with $557.79.
Experts person said that the inclination shows Nigeria’s efforts to boost macroeconomic stableness and honour its fiscal obligations portion supporting monetary argumentation initiatives specified arsenic speech complaint stableness and improved overseas investment.
Diaspora remittances surge successful 2025
Similarly, remittance inflows from Nigerians successful the diaspora continued to beryllium indispensable successful FX supply, with astir $328.76 cardinal successful nonstop remittances successful the archetypal 4 months of this year.
The apex bank’s information disclosed that Nigeria recorded a remittance inflow of $54.44 cardinal successful January, portion February recorded a crisp emergence of $123.59 cardinal successful inflows, the highest monthly inflow successful 2025.
The fig represents a much than 130% summation implicit the erstwhile month.
In March, inflows declined to $110,98 million, portion April posted an inflow of $37.75 million, the lowest successful 2025.
ThisDay reports that these figures amusement nonstop remittance inflows successful currency transfers to beneficiaries straight via authoritative channels.
Naira’s show was boosted by remittances
The study said the inflows bash not seizure the larger class of cumulative remittances, including investment-linked diaspora remittances and different indirect transfers.
The remittances bespeak the strategical value of diaspora engagement successful Nigeria’s economical plan.
The fiscal assemblage regulator has been moving with banks, different fiscal institutions and planetary wealth transfer operators (IMTOs) to boost remittance channels and connection much secure, efficient, and cost-effective options for diasporan Nigerians.
The contributions by remittances to FX inflows into Nigeria and the country’s outer indebtedness work obligations enactment the larger effort to boost outer reserves, heighten equilibrium of payments, and amended liquidity successful the fiscal system.
Nigeria exits the IMF’s debtor list
Legit.ng earlier reported that the Federal Government of Nigeria has successfully repaid its indebtedness to the International Monetary Fund (IMF), prompting the planetary fiscal instauration to officially region Nigeria from the database of countries with outstanding obligations.
This improvement follows the last repayment of the main magnitude of its $3.4 cardinal indebtedness obtained nether the IMF’s Rapid Financing Instrument (RFI).
Source: Getty Images
The loan, disbursed successful April 2020, astatine the highest of the COVID-19 pandemic, was designed to supply exigency enactment for Nigeria’s battered economy, which astatine the clip faced a crisp diminution successful lipid revenues, rising fiscal deficits, and a looming recession.
Top 10 African countries with the lowest indebtedness to the IMF
Legit.ng earlier reported that the International Monetary Fund (IMF) listed African countries with the lowest indebtedness successful 2025.
Specifically, Nigeria and Ghana person importantly reduced their vulnerability to IMF loans successful the past fewer weeks.
These exemplary African countries person moved the needle regarding their debts to the planetary backing organisation.
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Source: Legit.ng
