Investors now have a chance to partner with the Government towards the development of road infrastructure as the Offer Circular for a new Sovereign Sukuk of up to N250 billion.
This Sovereign Sukuk, which will be the fourth to be issued by the Debt Management Office (DMO) since its first Sukuk issuance in September 2017, is for a Tenor of ten (10) years at a Rental Income of 12.80% per annum which will be paid half-yearly. The proceeds of the Sukuk will be used to finance critical road projects across Nigeria.
So far, through the issuance of Sovereign Sukuk in 2017, 2018 and 2020, the DMO has raised a total of sum of ₦362.57 Billion which have been deployed to the rehabilitation and construction of critical economic road projects across the country. The impact of the Sovereign Sukuk on road infrastructure in terms of job creation, travel time, safety and movement of goods have made the Sukuk a beneficial financial instrument for financing economic growth and development.
Institutions, individuals, associations and cooperative societies can invest in the Sovereign Sukuk thereby supporting the DMO towards raising project-tied funds and promoting financial inclusion.