NewsExpress advert FCMB banner
Nigeria’s N100bn debut Sukuk offer oversubscribed

By News Express on 27/09/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 704

•DMO DG Patience Oniha
•DMO DG Patience Oniha

As was expected, the N100 billion seven-year debut Sukuk offer by the Debt Management Office (DMO), which closed last week Friday, has been oversubscribed.

Sukuk, a project-tied investment facility attracted investors from across a broad spectrum of the public comprising pension funds, banks, fund managers, institutional and retail investors.

Reacting to the pleasant development, the Director General of DMO, Ms Patience Oniha, said that the acceptance of the offer was an indication of the viability of the instrument as an investment option as well as a demonstration of utmost faith in the economy.

She commended the Federal Government and, in particular, the Minister of Finance, Mrs Kemi Adeosun, for the policy support that led to the success of this initial offer which industry watchers accept as another window that has opened for the government to raise funds to fill the nation’s yawning infrastructure gap.

In the run up to the offer, Nigerians developed tremendous enthusiasm as they embraced the investment instrument advertised nationwide through roadshows by officials from the DMO, Ministry of Power, Works and Housing, and Central Bank of Nigeria (CBN) in Lagos, Port Harcourt, Kano, Abuja and Kaduna.

The awareness campaign which drew attention to the projects Sukuk aim at, the construction and rehabilitation of 25 roads across the six Geopolitical zones, aroused in the investors the patriotic fervour that led to the oversubscription.

Investment experts are optimistic that with this issuance, a new instrument, the Sovereign Sukuk, has been introduced to Nigeria’s capital market, and has added to the variety of products available for domestic issuers and investors.

They pointed out that Sukuk, as a novel investment platform, achieved one of its aims which is to offer new investors an opportunity to participate in Nigeria’s growing capital market.  A look at the investors that subscribed for the Sovereign Sukuk revealed that another significant objective was achieved through the participation of over a thousand retail investors from across the nation who accounted for over four per cent of the total subscription.

With this positive development, the DMO is energised to continue with its role of meeting the Government’s funding needs as well as introducing new instruments to develop Nigeria’s capital market. Also, it is hoped that the success of this offer and the proceeds from it, will enable the Federal Ministry of Power, Works and Housing to commence work on the road projects in earnest.

Source News Express

Posted 27/09/2017 05:29 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
I am ready to name Boko Haram sponsors...

Sack of Governor Ishaku a rape of democracy,...

INEC clears 6 parties for Lagos bye-elections, 4...

MMM ready to resume operations in Nigeria on...

Soldiers kill 6 secessionists in Cameroon

Delta 2015: Olejeme declared the choice of Ndokwa...

Troops, Navy helicopters, speed and gunboats raid militants’...

Cameroon jails separatists after extradition from Nigeria

Senate overrules Okpara Varsity VC, orders recall of...

Governor collapses during public address

50 female suicide bombers reportedly set for fresh...

Buhari’s aide hails Liberia’s willingness to implement beneficial...


Latest News Victor Moses shoots down hosts Poland as Super Eagles begin 2018 World Cup preparation on victory note FG tackles Bill Gates over Buhari’s economic strategy Jonathan, South South Governors, others storm Yenagoa for Restructuring Rally Cholera, Lassa fever kill 14 in Bauchi Anambra guber: Tribunal fixes April 17 for hearing of case against Obiano Queen Elizabeth to start this year’s London Marathon 7.4m pupils benefitting from school feeding programme — Osinbajo Supreme Court orders retrial of Kenny Martins, others for alleged N7.74bn Police Equipment fraud CBN sustains intervention in foreign exchange market with $339.89m Akeredolu remains Ondo Governor — APC Technological Development: FG ready to partner Techno Land Use Charge: Lagos Peoples’ Assembly throws weight behind Ambode •Brands Ikeja NBA mercenary tools of politicians


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (333,029 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (325,934 views) Shameless Genevieve Nnaji exposes breasts in public (261,436 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (214,903 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (198,391 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (192,942 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (168,166 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (150,827 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (143,501 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (133,742 views) Lagos plane crash: Journalist releases victims’ names (133,013 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (126,229 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (35) Business & Economy (2,984) Business Verdict (36) Columnists (817) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (456) Features (554) Global Business Monitor (241) International (1,863) Interview (146) Live Commentary (28) Love Matters (114) News (33,862) Opinion (898) Pidgin (10) Politics (4,636) Religion (703) Sports (1,458) Stock Watch (28) AMA & Al Jazeera Global Update



NLNG Science and Literature Prize Awards




Football Highlight -- BARCELONA - CHELSEA 3:0


APO Group Partner




REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera