Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said the Federal Government raised the sum of N669 billion from the Nigerian capital market through issuance of Sukuk Bonds.
Ahmed said this at the Chartered Institute of Stockbrokers (CIS) 2021 national workshop on Thursday.
The theme of the national workshop was: “Leveraging the Financial Markets to Achieve Double- Digit Economic Growth for Nigeria.”
She said the Federal Government through the Debt Management Office (DMO) raised N669 billion from the capital market between 2018 and 2020.
“The Federal Government through the DMO had raised up to N669 billion from the capital market through three different issuances of Sukuk Bonds.
“This financing was used to construct and rehabilitate more than 44 roads across the six geo-political zones of our country.
“Also worthy of note, is the offer for subscription of the Federal Government of Nigeria Savings Bonds of the DMO which has been executed successfully, bond issue after bond issue.
“What is pleasing to us, is that every time the DMO goes for bond issue, the bond are several times oversubscribed.
“This shows the interest of the investing public in Nigeria putting their monies to support the Federal Government of Nigeria in bridging our infrastructure deficit gaps,’’ Ahmed said.
She disclosed that the Federal Government would issue another Eurobond in September to finance capital deficit.