The Debt Management Office (DMO) has unveiled plans to issue a ₦300 billion Sovereign Sukuk to finance capital projects across Nigeria.
DMO Director-General, Patience Oniha, made the announcement during a strategic meeting in Lagos, held in collaboration with financial sector stakeholders. The session reviewed the progress of the Sukuk initiative since its inception.
Since the first issuance in September 2017, the DMO has successfully raised ₦1.092 trillion as of December 2023, facilitating the construction and rehabilitation of over 4,100 kilometers of roads and nine bridges across the country’s six geopolitical zones.
Speaking on the upcoming Series Seven Sovereign Sukuk, Oniha assured investors of competitive returns while emphasizing the initiative’s critical role in driving infrastructure development.
She reiterated the federal government’s commitment to ensuring that Sukuk proceeds continue to fund essential projects, offering investors both financial gains and a stake in national progress.
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