Fidelity bank card banner Emerald Energy Institute Camano banner

Dangote endorses FG’s debut Sukuk offer

By News Express on 18/09/2017

Gmail icon

Views: 968

•Africa’s richest man, Aliko Dangote
•Africa’s richest man, Aliko Dangote

Nigeria’s foremost entrepreneur and Africa’s richest man, Aliko Dangote has described the debut N100 billion Federal Government of Nigeria Sukuk offer as a paradigm shift in government’s effort at seeking alternative funding for critical infrastructure.

Speaking in Lagos when the Director-General of the Debt Management Office (DMO), Ms. Patience Oniha, paid him a courtesy visit, Dangote described the Sukuk as a commendable initiative and urged Nigerians to invest in the offer which had the full faith and credit of the Federal Government.

According to him, though the Dangote Group was doing a lot with the government, the company would invest in the financial instrument as a way to promote infrastructural development.

“I must commend the Debt Management Office for having this creativity with this N100 billion Sukuk initiative. It is a right move in the right direction as government seeks for fresh capital to fund infrastructure in the country.

“I want to urge Nigerians to invest in the offer as it is high yielding with 16.47 percent. It is tax free and will be beneficial to all who invest, it will enhance infrastructural growth.

“I encourage each and every Nigerian, including myself, to participate. We as a company will participate,” he said.

“I know we are doing a lot already with government but that will not stop us from investing in this instrument because without infrastructure no economy can grow. That is why I think it is a good investment,” Dangote said.

Speaking earlier, Oniha, said she and her team were visiting to solicit his support for the debut Sovereign Sukuk offer, stressing that the funds will be dedicated solely to road infrastructure.

Oniha explained that the DMO and the Federal Ministry of Power, Works and Housing had identified 25 major road projects across the six geo-political zones which the proceeds from the issuance of the Sukuk would be used to develop.

She further stated that the Sukuk fund would be applied to critical sections of the 25 road projects to accelerate their completion.

The FG is offering N100 billion in the first sovereign Sukuk offer with a tenor of seven years, rental income will be paid twice yearly and the principal will be repaid in full at the end of the tenor to investors.

Source News Express

Posted 18/09/2017 05:15:12 AM

 

 

CLASSIFIED ADS

 

You may also like...
Of Corruption, Insecticide and Deodorant

Insecurity: FG inaugurates community policing committee

Breaking News: Ghana President bounces back, wins election,...

19 states still owe workers despite bailouts and...

CBN intensifies Forex supply, injects fresh $205m into...

Atiku woos Saraki to PDP

New university, ‘first of its kind in Nigeria’,...

NUPENG threatens to stop fuel supply over salary...

PDP decries attack on journalists in Kaduna

Buhari gives marching orders to security agencies, says...

Corruption: Buhari spits fire, orders probe of Babachir...

20 killed, 100 houses set ablaze in Benue...

 

Latest News Wadume: Military, Police disagreement stalls trial of kidnap kingpin, other suspects Unknown gunmen kill traditional ruler Igbos storm United Nations over alleged marginalisation by Buhari administration Minimum wage talks deadlocked again as FG, Labour fail to reach agreement NFIU clears the air on letter seeking bank account details of senators, judicial officers Over 100 LGAs ravaged by flood in 33 states Sacked Lecturer: PUNCH Correspondent arrested over petition Xenophobia: Apologies from South Africa not enough, says HURIWA Islamic State Leader issues fresh battle cry Abuja not under any form of siege — IGP Boko Haram: Borno Governor demands more protection for Maiduguri •Details of how terror group shook UNIMAID 3 nabbed for vandalising public utilities in Enugu

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (540,688 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,041 views) Shameless Genevieve Nnaji exposes breasts in public (389,327 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (326,672 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (294,652 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,632 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (249,740 views) 10 cars more expensive than Jets (238,351 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,463 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,467 views) Lagos plane crash: Journalist releases victims’ names (195,835 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,434 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,444) Business Verdict (80) Columnists (1,109) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (812) Global Business Monitor (442) ICT Monitor (63) International (3,955) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,389) Opinion (1,359) Pidgin (17) Politics (11,447) Religion (1,102) Sports (2,167) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera