The Debt Management Office (DMO) on Wednesday disclosed plans to raise N300 billion through Series Seven (VII) Sovereign Sukuk issuance for Capital projects nationwide. Patience Oniha, director-general, DMO, disclosed this in Lagos at the all parties meeting for the Series Seven (VII) Sovereign Sukuk issuance.

She said the proceeds will be used to finance capital projects nationwide, which will yield significant benefits as previously outlined. According to her following the modest success of the first Sukuk and the achievement recorded, from September 2017 to December 2023 when the last Sukuk was issued, the DMO has raised a total of N1.092 trillion.

With this amount, over 4,100 kilometres of roads and 9 bridges across the six geopolitical zones in Nigeria and the Federal Capital Territory have either been constructed or rehabilitated.

Source: Businessday