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FG to spend N100 billion Sukuk fund on road infrastructure
  • Post by Admin on sunday, March 05, 2015

The N100 billion targeted by the Federal Government from the Islamic bond, Sukuk, will be spent on critical road infrastructure across the country, the Debt Management Office has said. The Director-General, DMO, Patience Oniha, said this at various stops of the road show organized to drum support for the bond, according to a statement issued by the agency in Abuja on Tuesday.

Oniha, alongside officials of the Ministry of Power, Works and Housing, told stakeholders in Lagos, Port Harcourt and Abuja that the N100 billion was dedicated to building critical road infrastructure across the country.

The sovereign Sukuk is an ethical-based investment in which rent is based on the investment bi-annually and the principal sum paid at the end of the seven-year tenor.

Photo Caption: The Director-General, DMO, Patience Oniha

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