05/12/2021
In 2017 our administration issued Nigeria’s first Sovereign SUKUK, to finance critical road infrastructure across the country.
We have since followed that initial issuance with subsequent ones in 2018 and 2020, raising a total of 362.577 billion Naira so far from investors.
I am delighted to note that SUKUK-financed road projects are now being delivered. We are in what the Honourable Minister of Works and Housing, Mr. Babatunde Fashola, SAN, has termed “Season of Completion and Impact.”
In line with this, I have asked the Ministers in whose States projects have been completed, to represent me at the ceremonies marking the formal completion and handover of these projects.
I am pleased to announce that we have thus far handed over the following completed roads/sections:
KEBBI/SOKOTO: Sokoto—Tambuwal—Jega Road, constituting Phases 1 and 2 of the Sokoto—Tambuwal—Jega—Kontagora—Makera Road, linking Sokoto and Kebbi States, on Thursday November 25, 2021, handed over by the Honorable Minister of Justice and Attorney General of the Federation, Abubakar Malami, SAN.
BENUE/CROSS RIVER: Vandeikya—Obudu Cattle Ranch Road (Phases 1 and 2), connecting Benue and Cross River States, handed over by the Hon. Minister of Special Duties and Inter-Governmental Affairs, Senator George Akume, on Monday November 29, 2021.
EBONYI/ENUGU: Nenwe—Uduma Road (Sections 1 and 2), with Spur to Ishiagu, connecting Enugu and Ebonyi States, handed over by the Hon. Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu, on Thursday December 2, 2021.
Also completed and ready for Commissioning are Section 2 (Shuwarin—Azare; connecting Jigawa and Bauchi States) and Section 3 (Azare—Potiskum, connecting Bauchi and Yobe States) of the Kano—Maiduguri Road.
There are several more roads ahead in the weeks and months ahead, which we will be formally handing-over, in this Season of Completion.
These completed roads will open up communities, reduce travel time, make it easier and faster