THUR 02 DEC, 2021-theGBJournal- The Debt Management Office (DMO) indicated Wednesday that its fourth tranche of SUKUK will be issued for an expected amount of N200 – N250 billion by the end of the year.
Recall, the DMO commenced the issuance of SUKUK in September 2017 whereby N100 billion was raised to finance the rehabilitation and construction of twenty-five road projects across the six geopolitical zones in the country.
Another SUKUK worth N100 billion was later issued in 2018 and another for N162.557 billion in 2020. The proceeds of these two Sukuk issuances were also deployed to twenty-eight and forty-four road projects across the country respectively.
The issuance of SUKUK has led to the development of infrastructure in terms of improved road infrastructure within and outside cities in Nigeria. It has equally promoted financial inclusion for and strengthened the domestic securities market.
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