Nigeria Issues Its Third Sovereign Sukuk to Support Road Infrastructure Development

Nigeria’s Debt Management Office is issuing NGN 150 billion in sovereign Sukuk to fund 44 highway projects that are currently in the works. Over 500 bridge and road projects are being undertaken by the Nigerian Government, to enhance infrastructure in the country.

The President of Nigeria has prioritised road infrastructure projects, stating this as a prerequisite for any country’s socio-economic development.

The Minister of State for Works and Housing, Abubakar Aliyu, stated that a paucity of funding has compelled the government to leverage alternative sources of funding to meet the requirements of its infrastructure development projects.

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