Thursday, 18 March 2021 12:08

Press Release on Listing of ₦162.557 Billion 7-Year 11.200% AL IJARAH Sovereign Sukuk Due 2027 on The Nigerian Stock Exchange and FMDQ Securities Exchange

The Debt Management Office (DMO) will today list its third Sovereign Sukuk 162.557 BILLION 7-YEAR 11.200% AL IJARAH SOVEREIGN SUKUK DUE 2027” on The Nigerian Stock Exchange and the FMDQ Securities Exchange. The Sukuk which at the time of issuance was massively subscribed to the tune of 669.124 Billion or 446%, was issued to finance 44 economic road projects across the six (6)-geopolitical zones. With the listing, investors who are already holding the SUKUK can trade them while new investors have an opportunity to buy the SUKUK in the secondary market.

The DMO started the issuance of Sovereign Sukuk in September 2017 as one of the measures towards attaining its strategic objective of bridging the infrastructure gap in Nigeria to promote job creation and economic growth.

Following the successful issuance of the 100 Billion debut Sukuk in 2017, the DMO issued another 100 Billion Sukuk in 2018. The proceeds of the two (2) Sukuks were deployed to the rehabilitation and reconstruction of road projects across Nigeria.

Through the Sovereign Sukuk initiative, the DMO has raised a total sum of 362.57 Billion in less than three (3) years for the rehabilitation and construction of major economic roads across the country. In addition, by issuing Sovereign Sukuk, the product range available to investors in the domestic financial market has increased, while, several retail investors have been attracted to the financial markets.

The DMO remains committed to providing funding for the Government, as approved from time to time, to finance the development of infrastructure whilst also deepening the domestic financial markets and mobilizing savings.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

March 18, 2021