Economy
Nigeria Spends $2.01bn on External Debt Repayment in Four Months
By Adedapo Adesanya
Nigeria spent about $2.01 billion on external debt repayment between January and April 2025, higher than the $1.33 billion recorded during the same period in 2024.
This is according to the latest international payment data by the Central Bank of Nigeria (CBN).
Debt servicing alone accounted for 77.1 per cent of Nigeria’s total international payments within the four months, a sharp rise from the 64.5 per cent share recorded in the same period of 2024.
In total, the country’s international payments, comprising debt service, remittances, and letters of credit, stood at $2.60 billion as of April 2025, up from $2.07 billion recorded in the corresponding period of 2024.
Nigeria’s foreign exchange reserves reportedly fell by about $3 billion during the review period.
On a month-to-month basis, Nigeria paid $540.67 million in January 2025 from $560.52 million recorded in January 2024.
In February, the figure stood at $276.73 million, almost unchanged from the $283.22 million paid in February 2024.
However, Nigeria’s debt service, spiked in March to $632.36 million, more than double the $276.17 million paid in the same month last year.
The upward tick continued in April with another $557.79 million repaid a 159 per cent increase from the $215.20 million paid in April 2024.
The country spent nearly $1.2 billion on debt repayments within March and April alone, the data revealed.
The development follows confirmation by the International Monetary Fund (IMF) that Nigeria had fully repaid the $3.4 billion financial support it received under the Rapid Financing Instrument to cushion the economic impacts of the COVID-19 pandemic.
The loan is one of the largest disbursements under the Rapid Financing Instrument globally and came with relatively favourable terms compared to traditional IMF programmes.
In a statement on behalf of the IMF Resident Representative for Nigeria, Mr Christian Ebeke, the Fund said the repayment was completed on April 30, 2025.
IMF stated that, “As of April 30, 2025, Nigeria has fully repaid the financial support of about $3.4bn it requested and received in April 2020 from the International Monetary Fund under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices.”
The loan, disbursed in April 2020, was aimed at helping Nigeria address a sharp fall in oil prices, economic contraction, and fiscal pressures caused by the pandemic.
Despite full repayment of the principal, Nigeria will continue to pay additional annual fees related to Special Drawing Rights charges of about $30 million over the next few years.
The charges are tied to the difference between Nigeria’s SDR holdings, which currently stand at SDR 3,164m ($4.3 billion), and its cumulative SDR allocation of SDR 4,027m ($5.5 billion).
The charges are levied at the SDR interest rate, which is updated weekly, and will continue until Nigeria’s SDR holdings match the cumulative allocation amount, the IMF noted.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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