The federal government has spent the sum of six hundred and thirteen billion naira proceeds of Sukuk on critical roads and bridges, across the country.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this at the Symbolic Cheque Presentation Ceremony of the 2022 Sovereign Sukuk Issue proceeds of one hundred and thirty Billion naira to the Implementing Ministries, in Abuja, yesterday.
According to the Minister of Finance, the 2022 Sovereign Sukuk of one hundred and thirty billion naira would be released as part of the Capital Expenditure in the 2022 Appropriation Act, which has been extended by the National Assembly to March 31, 2023.
Mrs. Ahmed added that beside the immense contributions of Sukuk to the funding of critical road infrastructure, the objectives of deepening the domestic capital market and financial inclusion were being achieved by the government.
In her remarks, the Director-General of the Debt Management Office, Mrs. Patience Oniha, which issued the first Sukuk in 2017 said they worked diligently with experts to get the process and documentation right.
