Sukuk as a Key Source of Financing Aids Nigeria’s Development: NASFAT

Maruf Onike Abdul-Azeez, Chief Missioner of Nasrul-Lahi-il Fatih Society of Nigeria (NASFAT), has said that the country needs to embrace Sukuk as a crucial source of funding. He noted Sukuk has been used to finance projects in the past, which, in turn, have aided the country’s development.

Why it Matters?

According to Nigeria’s Minster of Finance, the country was in need of USD 3 trillion to bridge its infrastructure gap over 30 years. Nigeria’s population and the rate of persons moving from rural to urban areas is also rising, which results in the need for more infrastructure projects.

Details

Abdul-Azeez advised more Nigerians to raise non-interest assets because they are interest-free and reduc...