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FG Presents N100 Billion Sukuk Fund To Minister Of Works

The Minister of Finance, Mrs Zainab Ahmed Thursday presented a symbolic cheque of N100 billion Sovereign Sukuk fund to the minister of power, works and housing, Mr Babatunde Raji Fashola for infrastructural development in line with federal government's commitment to bridging the infrastructural gap.

 

The Minister of Finance while presenting the cheque in Abuja, said the proceeds of the 2nd Sukuk fund will be used to further support government capital spending for 2018budget in the construction and rehabilitation of twenty-eight key economic roads across the six geo-political zones in the country with each Zone having a total allocation of N16.67 billion. The minister added that the roads when constructed will ease commuting, spur economic activities across the country and further close the country's infrastructural deficit. 

 

In his remarks, Mr Fashola noting the positive impact of the Sukuk fund on the economy also maintained that Nigeria is borrowing purposely to build assets that will last the country about 30years. Our Correspondent, Raliat Adenekan reports that the total length of roads captured to be covered with the second sovereign sukuk is is 642.69 kilometers.

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