DMO ANNOUNCES A NEW N300BN SOVEREIGN SUKUK BOND ISSUANCE ON BEHALF OF THE FG TO FUND CRITICAL ROAD INFRASTRUCTURE ACROSS NIGERIA 12-05-25
By Sadiq Aminu. The Debt Management Office has announced a new N300 billion Sovereign SUKUK Bond issuance on behalf of the Federal Government to fund critical road infrastructure across Nigeria.
Director General of the DMO, Ms. Patience Oniha, made the disclosure in Abuja during an investors’ forum convened for the Series Seven SUKUK offer.
In her remarks, Director General of the DMO, Ms. Patience Oniha, outlined a one-week subscription window for the new offer, stressing that the funds will help bridge the nation’s infrastructure gap.
According to her “We first started with the Federal ministry of works only, later we added Housing . And living in Abuja we can see all the works that have been done with Sukuk, so this three hundred billion naira will follow the same pattern. It is for road, it is for bridges to reduce the deficit we have in infrastructure to support the objective of growth and development”
An investor, Alhaji Attahiru Gidado, emphasized that under SUKUK guidelines, all funded roads must remain motorable throughout the lifespan of the bond.
Also speaking, Professor Uche Uwaleke, a capital market expert, urged that other government borrowings should adopt the SUKUK model by being project-specific and transparent.
Professor Uwaleke also commended the Federal Government for aligning its fiscal policies with infrastructure-led growth, aimed at repositioning the economy.
The SUKUK Bond has remained a key instrument for financing Nigeria’s road infrastructure — an essential backbone for economic activity and national connectivity.
Since its introduction in 2017, the Sovereign SUKUK has supported the construction and rehabilitation of over 4,000 kilometres of roads across the country’s six geo-political zones.