Nigeria’s Debt Management Office Lists Sukuk Worth NGN 250 Billion on Nigerian Exchange 

The Debt Management Office (DMO) of Nigeria has announced the listing of 10-year tenured NGN 250 billion (USD 595 million) Ijarah Sovereign Sukuk on Nigerian Exchange Limited (NGX).

Why it Matters?

The listing of the Sukuk which was issued on the 29th of December 2021 and is set to mature in 2031 is expected to enhance trading and liquidity. Proceeds from the offering will be used to fund road projects, allowing the government to make substantial headway in closing Nigeria's infrastructure gap. Accordingly, key economic road projects would be renovated and built across the nation's six geopolitical zones with the help of the offering.

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