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.
“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.
(NAN)
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
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Ibadan man pleads guilty of stealing spaghetti, milk, soap, other items worth N750,000
Adeyemo was charged with conspiracy, shop breaking and stealing, to which he pleaded guilty.
Economy
Stock market rebounds, gains N720 billion
The Nigerian stock market rebounded on Tuesday, with investors gaining N720 billion as renewed buying interest lifted key performance indicators.
Africa
UN special agent briefs Security Council on insecurity in Nigeria
On Tuesday, Leonardo Simão briefed the Security Council on political and security developments in Nigeria, West Africa, and the Sahel.
Health
45% of dementia risk preventable, says WHO
WHO released updated guidelines to reduce the risk of cognitive decline and dementia through evidence-based interventions across the life course.
NationWide
Nigeria sets December 2028 for final analogue TV switch-off
The Nigerian government has fixed December 2028 as the deadline for the final transition from analogue to digital television broadcasting.
Economy
Local Content: Shell awards $518 million contracts to indigenous firms
Shell awarded contracts worth $518 million to indigenous companies in 2025, reinforcing its commitment to growing Nigerian content in the oil and gas industry.
