The Debt Management Office (DMO) has raised N615.557 billion through Skulk for road rehabilitation and construction throughout the country in four years.
Ms Patience Oniha, Director-General of the DMO, stated this
in her presentation titled “Nigeria Public Debt – Some Considerations,” which
took place at the Capital Market Correspondents Association of Nigeria (CAMCAN)
2022 conference in Lagos.
From September 2017 to December 2021, N615.557 billion was
raised through Sukuk, according to Oniha.
She stated that N365.557 billion had been spent on the
construction of 1,881 kilometres of roads and six bridges.
“The last Sukuk issued in December 2021 targets 71 road
projects,” Oniha said.
She mentioned the reconstruction of the Bida-Lambata road in
Niger State, the rehabilitation of the Lagos-Ota-Abeokuta road in Lagos and
Ogun states, and the rehabilitation of the Enugu-Port Harcourt road section III
Enugu-Lokpanta in Enugu State as Sukuk-funded projects.
Others include the rehabilitation and reconstruction of the
Enugu-Port Harcourt dual carriageway section II Umuahia-Aba in Abia State and
the Kano-Katsina Road Phase I in Kano State.
She also stated that N25.69 billion had been raised through
sovereign Green bonds from December 2017 to June 2019.
The funds, according to the director-general, have been
allocated to seven selected projects in various sectors such as renewable
energy, agriculture, water, transportation, and afforestation.
Oniha stated that governments borrow to finance budget
deficits, and specific projects, and to refinance maturing debt obligations.
She thanked the Debt Management Office (DMO) for its years
of assistance to the Exchange.
“Exchange always visits the DMO for different proposals and
they are always granted. We hope the joint collaboration and support will
continue because it is very key to the debt capital market,” she added.