The Debt Management Office has said that Sukuk funding is being used to rehabilitate the Outer Marina Road- a major road connecting Lagos Island to Victoria Island, Falomo and Ikoyi.
The disclosure was made by DMO in a statement on Wednesday evening.
“While the Outer Marina Road is a major artery on its own, It will also be instrumental to easing the traffic in Lagos during the repair of Falomo Bridge. Thanks to the SUKUK, we are able to rebuild Nigeria one infrastructure at a time,” it said.
It will be recalled that the Debt Management Office (DMO) said last month that it listed its third sovereign Sukuk, N162.557bn 7-year 11.200% AL Ijarah Sovereign Sukuk due 2027, on the Nigerian Stock Exchange and the FMDQ Securities Exchange.