See what Senator Sani said about list of Africa's most indebted nations to IMF

Legit.ng writer Adekunle Dada has implicit 8 years of acquisition covering metro, authorities policy, and planetary issues

FCT, Abuja - Former Kaduna Central Senator, Shehu Sani, has expressed gratitude to God that Nigeria is not connected the database of Africa's astir Indebted Nations to International Monetary Fund (IMF).

Senator Sani said convey God Nigeria is not successful the database of indebted African countries.

He stated this portion reacting to the database connected Friday, June 27, 2027, via his X grip @Sheusani.

He wrote:

“Thank God, we are not successful this list.”

Reactions to lack of Nigeria connected indebted African countries

@isaiah_eda18155

Nigeria didn't get from the IMF similar they borrowed from the World Bank. Let's person that database too.

@macendy18

Because you can’t conscionable their conditions which evidently has to bash with purpose, compliance etc.

@CameronWaigha

IMF loans are for peculiar purposes, e.g., equilibrium of payments.

@musajidda

Senate volition surely person a indebtedness petition from the executive, perchance adjacent week.

@henrioriji

Did you spot Burkina Faso oregon Niger connected that list? Show america the 1 of China and satellite bank, I privation to cheque something.

@EbukaNw82866148

This is misleading and a deliberate effort to distort the truth.How overmuch is Nigeria's indebtedness arsenic astatine December 31, 2024?Nigeria's full nationalist debt, including some home and outer debt, is estimated to beryllium astir $94.23 cardinal arsenic of December 31, 2024.

@tevianshop

But we're connected others 🤣

@TT354245

Congratulations to your state with the astir corrupt leaders successful the world

IMF removes Nigeria from Top 10 countries with highest debt

Recall that arsenic of mid-2025, many African countries are struggling with precocious indebtedness obligations to the IMF, which, portion intended to stabilize economies, often effect successful unpopular austerity measures.

These measures, including fund cuts and currency devaluations, can pb to societal unrest and bounds governments' quality to code section economical issues.

With planetary involvement rates rising, the IMF indebtedness has go a captious concern, and the apical 10 nations with the highest indebtedness to the IMF person remained mostly unchanged this month.

FG repays China, World Bank, IMF, others

In a related story, Legit.ng reported that President Bola Ahmed Tinubu-led national authorities serviced debts of astir 13.12 trillion successful 2024, representing a 68% summation from N7.8 trillion successful 2023.

Data from the Debt Management Office (DMO) shows that debt servicing costs successful 2024 exceeded the allocation of N12.3 trillion successful 2024.

The Nigerian authorities earmarked N16 trillion for indebtedness servicing, showing its anticipation for continued debt-related expenses.

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Source: Legit.ng