The Debt Management Office, DMO, has announced plans to raise ₦300 billion through the Sovereign Sukuk initiative to fund capital projects across Nigeria.
The Director-General of the DMO, Miss Patience Oniha, stated this at a strategic meeting in Lagos, organized in collaboration with stakeholders in the financial sector.
Miss Oniha who highlighted the significant strides recorded since the maiden issuance in September 2017, noted that from its inception to December 2023, the DMO had successfully raised a total of ₦1.092 trillion, which facilitated the construction and rehabilitation of over 4,100 kilometers of roads alongside nine bridges across the six geopolitical zones of the country.
The DMO boss reassured investors of attractive returns while underscoring the instrument’s significance in advancing Nigeria’s infrastructure development.
She reiterated government’s commitment to ensuring that proceeds from the Sukuk continue to be channeled into critical infrastructure projects, offering investors both financial gains and the satisfaction of contributing to national development.
