Nigeria Issues $657.6M Sukuk Bonds for Road Projects Worth Over 5,800km

The Federal Government of Nigeria has issued N1.1 trillion sovereign sukuk bonds to fund 124 federal road projects spanning over 5,820 kilometers nationwide. The bonds are part of efforts to upgrade the country's infrastructure.

The Federal Government of Nigeria has issued a total of N1 trillion ($657.6m) worth of Sovereign Sukuk bonds to finance 124 federal road projects, covering over 5,820 kilometres across the country's six geopolitical zones. This move aims to support the government's efforts to upgrade and maintain Nigeria's extensive road network, with the projects set to benefit communities in various regions. The successful issuance of the sukuk bonds underscores the government's commitment to investing in infrastructure development and creating jobs for millions of Nigerians.