• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, June 2, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

DMO raises N652bn in sixth, N150bn Sovereign Sukuk

DMO

The Matters Press by The Matters Press
October 14, 2023
Reading Time: 2 mins read
0
DMO raises N615bn Sukuk fund for roads

Marrakech (Morocco), Oct. 13, 2023: The Debt Management Office (DMO) says the N150 billion Sovereign Sukuk whose offer for subscription closed recently received a total subscription of N652.827 billion.

RELATED POSTS

CUPP goofs over President Tinubu’s 2027 endorsement by governors

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

Tinubu explains mission as he marks second year in office

The Director-General of the DMO, Patience Oniha, made this known on Thursday in Marrakech.

According to Oniha, subscription level, which is 435 per cent of the N150 billion original amount, shows that the level of awareness of the product has increased.

She said it was also an indication that investors were willing to support the financing of infrastructure.

“In response to this strong demand for the Sukuk, the DMO has allocated N350 billion to the diverse investors who subscribed to the Sovereign

“The N350 billion will be used to finance the construction and rehabilitation of roads and bridges across the six geopolitical zones and the Federal Capital Territory.

“The DMO remains committed to meeting the needs of investors while also supporting the development of the domestic capital market,” she said. .

DMO on Oct. 3, announced an offer for subscription of its 6th, 10-year tenor Sovereign Sukuk for N150 billion, at a rental rate of 15.75 per cent.

Oniha had said that the Sovereign Sukuk was in initiated in 2017 to aid the rehabilitation and construction of critical national infrastructure.

She said that the Federal Government had raised and deployed N752.557 billion through the Sukuk, for development of critical infrastructure since 2017.

According to jer, Sukuk helps in infrastructure development and also achieves associated multiplier benefits.

“The DMO, through the issuance of Sukuk, has raised and deployed N752.557 billion to the rehabilitation and construction of N4, 000 kilometres of roads and bridges across the six geopolitical zones and the Federal Capital Territory (FCT).

“Apart from infrastructure development, Sukuk encourages financial inclusion by offering ethical investors an opportunity to invest in government securities.

“It deepens the domestic financial market and also sets a benchmark corporates and subnationals,” she said.

She assured that the Sukuk was backed by the full faith and credit of the Federal Government.

Tags: DMO
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Next Post
Nigeria establishes cottage poultry processing facility to transform livestock

Poultry association losses N6bn to fuel subsidy removal

New naira notes: Rush as long queues of customers flood banks

Banks to embark on new recapitalisation drive soon – Experts

Recommended Stories

Economists Challenge IMF on call for further VAT increase in Nigeria

IMF commends Gabon for efforts in resource mobilisation

February 8, 2024
Price of bread to be reviewed upwards again

Cost of bread beyond reach of many Africans – AfDB

May 12, 2022
NESG calls for critical reforms to accelerate economic growth

Group re-schedules national economic summit

September 19, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • CUPP goofs over President Tinubu’s 2027 endorsement by governors
  • Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling
  • Tinubu explains mission as he marks second year in office

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us