DMO Rises N130bn From Sukuk For Road Project

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Naijanews Dec. 6, 2022 3:21 p.m.

DMO Rises N130bn From Sukuk For Road Project

This brings the total Sovereign Sukuk Issuance to N742.56bn as at date.” The DMO also noted that proceeds of the 2022 Sovereign Sukuk, like the previous Sukuk Issue Proceeds, would be used solely for the construction and rehabilitation of key road projects through the Federal Ministry of Works and Housing and the Federal Capital Territory Administration.

The statement revealed that since the Sukuk bonds was introduced in 2017, it has provided N612.56bn for the Federal Government and have helped in funding 71 roads and six bridges, measuring 1,881 kilometres across the country..

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