The Debt Management Office, DMO, has announced plans to raise N300 billion through the Series Seven Sovereign Sukuk to finance capital projects across Nigeria.
Speaking in Lagos at an all-parties meeting for the issuance, DMO Director-General Ms Patience Oniha said the funds would be directed towards key infrastructure projects, continuing the impact of previous Sukuk issuances.
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Since the first Sukuk in 2017, the DMO has raised N1.092 trillion, funding the construction and rehabilitation of over 4,100 kilometres of roads and nine bridges across Nigeria’s six geopolitical zones and the Federal Capital Territory.
Ms Oniha highlighted the success of past Sukuk investments, stressing their role in bridging Nigeria’s infrastructure deficit. The latest issuance is expected to further accelerate development and economic growth through improved connectivity and public works.
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