The Federal Government has spent 612.557 billion naira proceeds of Sukuk on critical roads and bridges across the country.

Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this at the cheque presentation ceremony of the 2022 Sovereign Sukuk Issue Proceeds  of 130 billion naira to implementing ministries in Abuja.

She said the 2022 Sovereign Sukuk of 130 billion naira will be released as part of capital expenditure in the 2022 Appropriation Act, which has been extended by the National Assembly to March 31, 2023.

Ahmed said the issuance of Sovereign Sukuk, a project-tied debt instrument, is one of the many innovative and successful initiatives of this administration towards financing the development of critical infrastructure in the country.