· The Debt Management Office (DMO) of Nigeria is set to issue another Sovereign Sukuk this year
· The issue amount will be limited to a maximum amount of N250 billion. This amount will be used to finance critical road projects across the country
The Debt Management Office (DMO) of Nigeria is set to issue another Sovereign Sukuk this year. The issue amount will be limited to a maximum amount of N250 billion. This amount will be used to finance critical road projects across the country.
It may be noted that the debt office commenced the issuance of Sukuk in September 2017, which is a Strategic Initiative to support the development of infrastructure, promote financial inclusion and deepen the domestic securities market. So far, the DMO has issued three Sovereign Sukuk to the tune of N362.577 billion.
The debut Sovereign Sukuk in 2017 raised N100 billion to finance the rehabilitation and construction of 25 road projects across the six (6) geopolitical zones. In 2018, also, DMO issued a Sukuk for N100 billion. Another issue was launched in 2020 for N162.557 billion. Proceeds from those issues were deployed in 28 and 44 road projects across the six geopolitical zones in the country. Between September 2017 and June 2021 a total of N362.577 billion Sovereign Sukuk was issued.
