Sunday, August 7, 2022

DMO lists N250 billion Sovereign Sukuk on NSE, FMDQ

The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Group and the FMDQ Securities Exchange.

• July 5, 2022

The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Group and the FMDQ Securities Exchange.

“To maximise market liquidity for investors in the Sovereign Sukuk, the DMO is listing the N250 billion Sovereign Sukuk, which was issued in December 2021, on the NSE and the FMDQ Securities Exchange,” said the DMO. “The N250 Billion Sovereign Sukuk is the fourth one issued by the DMO and had a massive oversubscription of N865 Billion at time of issuance.”

This, the DMO said, was the highest recorded since September 2017.

It added that the proceeds of the Sovereign Sukuk since its inception had been deployed towards the construction and rehabilitation of road networks across the six geopolitical zones.

“Currently, proceeds from the N250 billion Sovereign Sukuk are being utilised across 77 key economic road projects in the country. The projects include the completion of roads B6, B12 and Circle road, Abuja; Abuja-Lokoja road (Koton Karfe-Lokoja); and rehabilitation of Yola-Hong-Mubi road in Adamawa,” it disclosed. “Others are dualisation of Kano-Katsina road; dualisation of Sapele-Ewu road; rehabilitation Of Old Enugu – Onitsha road; dualisation of Ibadan-Ife-Ilesha road; dualisation Of Akure – Ado Ekiti road, among others.”

DMO started the issuance of sovereign Sukuk in September 2017 as one of the measures toward attaining its strategic objective of bridging the infrastructure gap in Nigeria to promote job creation and economic growth.


We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette


Yobe distributes UNDP-assisted inputs to 500 farmers

Mr Goje said the support was part of United Nations Development Programme (UNDP) and Yobe State Government Early Recovery Project.



Nigerians give advice on Census 2023

Mr Nwagou suggested that the statistics gathered should be used to effect positive change in the country.


60% of Nigerian youths should be in Agriculture: Beauty pageant

Ms Odida said that most youths were not aware of the abundant opportunities in the agricultural sector.


Banning Okada in Abuja would increase poverty, crime rate, residents warn

In separate interviews, some residents advised the federal government to rescind the decision.


Experts seek manufacturing boost as Sylva says high crude prices bad for Nigeria 

The Nigeria Economic Summit Group (NESG) published its macroeconomic outlook this week.

CBN Governor, Godwin Emefiele and Farmers used to illustrate the story


Emefiele says CBN disbursed N1.01 trillion to smallholder farmers across Nigeria 

The intervention schemes were targeted at stimulating productivity in agriculture; manufacturing and industry, among others.