Shehu Sani Reacts to Absence of Nigeria on List of Africa's Most Indebted Nations to IMF
- Former Kaduna Central senator, Shehu Sani, has reacted to the he list of Africa's most Indebted Nations to International Monetary Fund (IMF)
- Senator Sani thank God the Federal Republic of Nigeria is not on the list of Africa's most Indebted countries
- Many Nigerians took to social media to also react to the IMF indebted list and Senator Sani's comment
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - Former Kaduna Central Senator, Shehu Sani, has expressed gratitude to God that Nigeria is not on the list of Africa's most Indebted Nations to International Monetary Fund (IMF).
Senator Sani said thank God Nigeria is not in the list of indebted African countries.
Source: Facebook
He stated this while reacting to the list on Friday, June 27, 2027, via his X handle @Sheusani.
He wrote:
“Thank God, we are not in this list.”
Reactions to absence of Nigeria on indebted African countries
@isaiah_eda18155
Nigeria didn't borrow from the IMF like they borrowed from the World Bank. Let's have that list too.
@macendy18
Because you can’t meet their conditions which obviously has to do with purpose, compliance etc.
@CameronWaigha
IMF loans are for particular purposes, e.g., balance of payments.
@musajidda
Senate will surely receive a loan request from the executive, possibly next week.
@henrioriji
Did you see Burkina Faso or Niger on that list? Show us the one of China and world bank, I want to check something.
@EbukaNw82866148
This is misleading and a deliberate attempt to distort the truth.
How much is Nigeria's debt as at December 31, 2024?
Nigeria's total public debt, including both domestic and external debt, is estimated to be around $94.23 billion as of December 31, 2024.
@tevianshop
But we're on others 🤣
@TT354245
Congratulations to your country with the most corrupt leaders in the world
Source: Twitter
IMF removes Nigeria from top countries with highest debt
Recall that as of mid-2025, many African countries are struggling with high debt obligations to the IMF, which, while intended to stabilize economies, often result in unpopular austerity measures.
These measures, including budget cuts and currency devaluations, can lead to social unrest and limit governments' ability to address local economic issues.
With global interest rates rising, the IMF debt has become a critical concern, and the top 10 nations with the highest debt to the IMF have remained largely unchanged this month.
FG repays China, World Bank, IMF, others
In a related story, Legit.ng reported that President Bola Ahmed Tinubu-led federal government serviced debts of about 13.12 trillion in 2024, representing a 68% increase from N7.8 trillion in 2023.
Data from the Debt Management Office (DMO) shows that debt servicing costs in 2024 exceeded the allocation of N12.3 trillion in 2024.
The Nigerian government earmarked N16 trillion for debt servicing, showing its expectation for continued debt-related expenses.
Source: Legit.ng
