Nigeria to Offer Sovereign Sukuk Ijarah Worth NGN 100 Billion for Ten-year Tenure  

Nigeria to Offer Sovereign Sukuk Ijarah Worth NGN 100 Billion for Ten-year Tenure  

https://islamicmarkets.com/articles/nigeria-to-offer-sovereign-sukuk-ijarah-worth-ngn-100-billion
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The Nigerian Debt Management Office (DMO) has announced, on behalf of the Federal Government of Nigeria, plans to raise NGN 100 billion (USD 226.6 million) through the issuance of Sovereign Sukuk Ijarah with a ten-year term in order to fund more road improvements across the nation, on the 21st of November 2022.

Why it Matters?

Ijarah Sukuk, which was first issued in Nigeria in 2017, is a domestic component of government borrowings and has given the Federal Government NGN 612,557 billion (USD 1388) to fund 71 roads and six bridges totaling 1,881 kilometres across the country. The new offering's proceeds will only be utilised to build and repair important road projects within the nation's six geographic zones. The money will be raised through the FGN Ro...