The Federal Government has said that it will deploy the 150 billion naira that would be raised from the ongoing Sukuk bond issue to fund the construction of 53 road projects across the country.

Director General of the Debt Management Office, PATIENCE ONIHA, who disclosed this at an investors’ forum in Abuja, said the 53 roads cover more than 3,000 kilometres.

This was even as it is projected that the total amount raised by the Federal Government through Sukuk would soon hit 1 trillion naira.

She explained that the revenue generated through the collection of tolls on the roads would be allocated for the specific purpose of repaying Sukuk.

ONIHA emphasised that the Federal Government’s dedication to value-oriented borrowing continues through project-centred Sukuk, leading to the execution of notable road and bridge projects.