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Tag Archives: Sukuk bond

Rain slows down FG’s Sukuk funded road projects

Sukuk

Work on many Federal Government highway projects funded by Sukuk is presently going at a very slow pace. A check by correspondents in Yobe, Kogi, Niger and Kano states showed that most of the contractors handling the roads rehabilitation are either not on site or there is slow pace of activities where they are. In Kogi, reports show that work ...

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FG promises steady funding of Second Niger Bridge, others

Niger Bridge

The Federal Government has said it will ensure steady funding of three major projects namely; Lagos-Ibadan highway, Second Niger Bridge and Kano-Abuja road until they are fully completed. Minister of Power, Works and Housing, Babatunde Fashola, gave the assurance at the flag-off of Abuja-Kaduna-Zaria-Kano road project in Kano State. He said the uninterrupted funding of the projects would be sourced ...

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FG sets aside N199bn to tackle critical infrastructure projects

infrastructure projects

In a bid to tackle lack of funding for infrastructure projects, the federal government has set aside N199 billion Presidential Infrastructure Funds to tackle critical projects of the President Muhammadu Buhari’s administration. This was revealed by the Minister of Information and Culture, Alhaji Lai Mohammed while inspecting and showcasing the dualisation of the Ibadan to Ilorin road awarded since 2010 ...

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FG seeks alternative funding for Lagos-Ota-Abeokuta road

Lagos-Ota-Abeokuta

The federal government is seeking alternative funding for the rehabilitation of the Lagos-Ota-Abeokuta road, having realised that budgetary provisions would lead to the repair work being abandoned again. The Director, Federal Highways, South West, Busari Olalekan, an Engineer, who represented the Minister of Power, Works and Housing, Mr. Babatunde Fashola at the resumption of rehabilitation of the road, recently, assured ...

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DMO begins inspection on roads funded by Sukuk bond

Sukuk Bond

Officials of the Debt Management Office, Federal Ministry of Power Works and Housing, Federal Ministry of Finance and Office of the Accountant-General of the Federation have started the inspection of the Roads being financed with the Sovereign Sukuk bond issued in 2017. The proceeds of the N100 billion Sukuk were designated for the financing of 25 Road Projects across the ...

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FG invests N16.6 billion Sukuk bond on roads in South East

South East Sukuk Bond

The Federal Government is investing N16.6 billion of the N100 billion Sukuk Bond for rehabilitation of some roads in the South East geopolitical zone. The News Agency of Nigeria (NAN) reports that the Federal Government had in October, 2017 released the proceeds of the N100 billion Sukuk bond to 25 key economic road projects across the country. The Director of ...

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