To maximize market liquidity for investors in the Sovereign Sukuk, the Debt Management Office (DMO) is listing the N250 Billion Sovereign Sukuk, which was issued in December 2021, on the Nigerian Exchange Limited and the FMDQ Securities Exchange.
The N250 Billion Sovereign Sukuk is the fourth Sovereign Sukuk issued by the DMO and had a massive oversubscription of N865 Billion at time of issuance, making it the highest subscription level recorded since the first Sukuk issuance in September 2017 and a representation of investors’ growing confidence in the benefits of SUKUK to the development of the Nigerian economy.
Proceeds of the Sovereign Sukuk since its inception have been deployed towards the construction and rehabilitation of road networks across the six (6) geopolitical zones in Nigeria and their impact have been evident. Currently, proceeds from the N250 Billion Sovereign Sukuk are being utilized across seventy-seven (77) key economic road projects in the country such as the completion of roads B6, B12 & Circle road, Abuja; Abuja-Lokoja road (Koton Karfe-Lokoja); Rehabilitation of Yola-Hong-Mubi road in Adamawa State; Dualization Of Kano-Katsina road in Kano/Katsina States; Dualisation of Sapele-Ewu road; Rehabilitation Of Old Enugu - Onitsha road; Dualization of Ibadan-Ife-Ilesah road in Oyo State; Dualisation Of Akure - Ado Ekiti road in Ondo/Ekiti States and a host of other projects.
DEBT MANAGEMENT OFFICE
NDIC Building (First Floor),
Plot 447/448 Constitution Avenue,
Central Business District,
P.M.B. 532, Garki, Abuja
Tel: +234 - 8110000881-3
JULY 5, 2022