FG Raises N1.1 Trillion Through Sukuk to Fund 124 Road Projects
The Federal Government has raised N1.1 trillion ($657.6 million) through six Sovereign Sukuk issuances to finance 124 road projects spanning over 5,820 kilometers across Nigeria. The Securities and Exchange Commission (SEC) revealed this during the 2nd International Islamic Capital Market Conference in Karachi, Pakistan. SEC Director General Dr. Emomotimi Agama highlighted the success of these Sukuk issuances, which have been oversubscribed, and noted the growing role of Sukuk in financing infrastructure, housing, and education in Nigeria. He also pointed to the expansion of Nigeria’s Islamic finance market, supported by key domestic and global drivers.
