Nigeria’s IMF Debt Doubles to Over ₦5 Trillion Amid Naira Depreciation
Nigeria’s financial obligations to the International Monetary Fund (IMF) surged by over ₦2.5 trillion in 2024, effectively doubling the country’s liabilities to the global lender within a year. This escalation is attributed primarily to the depreciation of the naira and increased borrowing under President Bola Tinubu’s administration. According to the Central Bank of Nigeria’s (CBN)