The Debt Management Office (DMO) established the issue about N250 billion Sukuk to finance road projects.
The DMO issued this in a statement released on Tuesday.
The Sukuk is a strategic initiative that supports the development of infrastructure, promotes financial inclusion and deepens the domestic securities market.
Since the establishment of the initiative in September 2017, DMO had issued three Sovereign Sukuk — 2017, 2018 and 2020
“Subsequent to the debut Sovereign Sukuk in 2017 in which N100 billion was raised to finance the rehabilitation and construction of twenty-five (25) road projects across the six (6) geopolitical zones, the DMO issued a Sukuk for N100 billion in 2018 and another for N162.557 billion in 2020,” the statement reads.
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