The Debt Management Office (DMO) has called on Nigerian investors to partner with the Federal Government towards the development of road infrastructure.
The DMO announced this in its website, as it opened offer for a new Sovereign Sukuk of up to N250 billion on Thursday.
It stated that the Federal Government had so far realised the sum of N362.57 billion from Sukuk since it was first introduced in 2017, which has been deployed to roads construction across the country.
“This Sovereign Sukuk will be the fourth to be issued since its first Sukuk issuance in September 2017.
“It is for a tenure of 10 years at a Rental Income of 12.80 per cent 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 N362.57 billion.
“The monies 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,” it stated.
It urged institutions, individuals, associations and cooperative societies to invest in the Sovereign Sukuk thereby supporting the DMO towards raising project-tied funds and promoting financial inclusion.
“The offer closes Dec. 22,. Interested investors can download the Application Form at: www.dmo.gov.ng.”