Nigeria’s Sovereign Sukuk hits N2.2 trillion in subscriptions, fueling nationwide infrastructure while showcasing massive investor appetite for ethical finance.
The Debt Management Office (DMO) has confirmed that the Federal Government of Nigeria has secured N2.205 trillion in total subscriptions through its Sovereign Sukuk program since its launch in 2017, marking an oversubscription rate of 735%.
The announcement came via a DMO circular released on May 28, 2025, just weeks after the office announced the latest issuance of a ₦300 billion 7-year Ijarah Sukuk to fund road and bridge projects across the country’s six geopolitical zones.
“It is clear evidence of investor appetite for the ethical instrument introduced by the DMO in 2017,” the agency stated.
Who’s Investing?
The Sukuk program continues to attract a diverse investor base, including:
• Retail investors
• Non-interest banks and Islamic financial institutions
• Commercial banks
• Pension Fund Administrators
• Fund managers and institutional investors
Milestones Since 2017
¶ First Sukuk: N100 billion in 2017, received N105.9 billion in subscriptions.
¶ By 2023: DMO had raised N1.09 trillion, financing over:
• 4,100 km of roads
• 9 major bridges
¶ 2025 issuance: N300 billion to continue this legacy of infrastructure growth.
“The funds are directly channeled into capital projects that promote economic integration, safety, job creation, and market access,” said Patience Oniha, DMO Director-General.
Why Sukuk Matters
1. Ethical finance: Compliant with Islamic finance principles.
2. Inclusive investing: Opens doors for Nigerians of all backgrounds to participate in nation-building.
3. Tangible benefits: Roads, bridges, and reduced travel times benefit remote communities and agriculture.
Supported by Trusted Advisors
The issuance process is facilitated by key financial institutions including:
√ Lotus Financial Services
√ Buraq Capital
√ Stanbic IBTC Capital
√ Greenwich Merchant Bank
√ Vetiva Capital
These firms help structure the Sukuk, manage the offering, and coordinate investor engagement.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
