Ahmed: FG Raised N669bn From Capital Market Via Sukuk Bonds

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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the Federal Government raised about N669billion from the Nigerian capital market through issuance of sukuk bonds.

Ahmed disclosed this during the 2021 Chartered Institute of Stockbrokers (CIS) National Workshop held yesterday in Abuja.

Speaking on the theme “Leveraging the Financial Markets to Achieve Double-Digit Economic Growth for Nigeria”, Ahmed revealed that the Federal Government between 2018 to 2020, had through the DMO raised N669 billion from the capital market in three sukuk bonds issuance. She added that the financing was used to construct and rehabilitate over 44 roads across the six geopolitical zones of the country.

READ ALSO: Economic experts seek increased capital allocation to infrastructure

“Also worthy of mention was the offer for subscription of the FGN Savings Bonds by the DMO which was executed successfully after bond issuance and this is pleasing to us as the bonds are always over-subscribed as a reflection of the interest of the Nigerian investing public who are putting their monies to support the  government in bridging our infrastructural deficit gap. 

The government has also accessed the International Capital Markets with a number of Eurobonds to finance capital deficits and the next round of Eurobonds issuance will be sometime in September. Already we believe that there will be a positive outcome in that regard”, she said

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