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The federal government has said it will commence the repayment of $3.4bn Rapid Credit Facility to the International Monetary Fund, IMF, from June.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this at the public presentation of the 2022 Appropriation Act in Abuja on Wednesday.
Ahmed noted that the federal government surpassed its target for independent revenue to generate N1.1 trillion in 2021.
The $3.4bn Rapid Credit Facility was obtained by the Federal Government from the IMF in 2020 during the period when the Corona virus pandemic led to a shutdown of the Nigerian economy.
