{"id":39047,"date":"2021-12-21T01:28:11","date_gmt":"2021-12-21T01:28:11","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=39047"},"modified":"2021-12-21T01:28:14","modified_gmt":"2021-12-21T01:28:14","slug":"n250bn-sovereign-sukuk-for-roads-in-fct-niger-delta","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/n250bn-sovereign-sukuk-for-roads-in-fct-niger-delta\/","title":{"rendered":"N250bn sovereign Sukuk for roads in FCT, Niger Delta"},"content":{"rendered":"<p>The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk,&nbsp; which is fourth in the series would be deployed to three benefitting ministries.<\/p>\n\n\n\n<p>Director-General of the DMO,&nbsp; Patience Oniha, made this known on Monday in Abuja, at an investor meeting for the 2021 Sukuk .<\/p>\n\n\n\n<p>Oniha said that the proceeds would go into&nbsp; upgrading some roads in the Federal Capital Territory through the FCTA and the Niger Delta through the Ministry of&nbsp; Niger Delta Affairs.<\/p>\n\n\n\n<p>She, however,&nbsp; added that a chunk of the proceeds would still go into upgrading critical road infrastructure across the country, through the Federal Ministry of Works and Housing.<\/p>\n\n\n\n<p>\u201cThe funds would be used for economic roads identified by the Federal Ministry of Works and Housing,&nbsp; the FCTA and the Ministry of Niger Delta Affairs, \u201d she said.<\/p>\n\n\n\n<p>She urged Nigerians to take advantage of the opportunity to invest in the offer as it guarantee good return on their in investment.<\/p>\n\n\n\n<p>She said that the last three Sukuk offers were over subscribed,&nbsp; an indication that the model had become acceptable to Nigerians.<\/p>\n\n\n\n<p>According to Oyeniyi Azeez, Director&nbsp;&nbsp; Infrastructure Development of the Niger&nbsp; Delta ministry,&nbsp; the proceeds allocated to the ministry would&nbsp; be used to complete portions of the East-West Road, which&nbsp; cuts across the region.<\/p>\n\n\n\n<p>\u201cWe are delighted to be part of this Sukuk funding, \u201d he said.<\/p>\n\n\n\n<p>Mr Yiltong David,&nbsp; Deputy Director,&nbsp; Highway Planning and Development of the Federal Ministry of Works and Housing said that the Sukuk funds would assist the ministry complete some of its ongoing road projects.<\/p>\n\n\n\n<p>\u201cAbout ten roads will be completed next year.&nbsp; The proceeds of this Sukuk are targeted at roads labelled A1 to A9.<\/p>\n\n\n\n<p>\u201cThe Sukuk funding has been very helpful and if you travel across the country,&nbsp; the results of Sukuk are evident on our roads, \u201d he said.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-39047\" data-postid=\"39047\" class=\"themify_builder_content themify_builder_content-39047 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk,&nbsp; which is fourth in the series would be deployed to three benefitting ministries. Director-General of the DMO,&nbsp; Patience Oniha, made this known on Monday in Abuja, at an investor meeting for the 2021 Sukuk . Oniha said that the proceeds would [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3225,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[654],"class_list":["post-39047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-sukuk","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>N250bn sovereign Sukuk for roads in FCT, Niger Delta - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/n250bn-sovereign-sukuk-for-roads-in-fct-niger-delta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N250bn sovereign Sukuk for roads in FCT, Niger Delta - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Debt Management Office (DMO) says its latest offer of N250 billion sovereign Sukuk,&nbsp; which is fourth in the series would be deployed to three benefitting ministries. 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