North-East and South-West got the highest allocation in the final N162.5billion SUKUK fund recently released by the Federal Government (FG) for road projects in the six geo-political zones of the country.
The approved sums for North-East and South-West are N30.5billion and N27billion respectively.
In a document obtained by the Nigerian Tribune, a total of eight road projects will be covered in the North-East with varying sums.
These are Kano-Maiduguri road(section, SHUARI- AZARE)N11billion, Kano-Maiduguri road section III, Azare-Potiskum N2billion, Kano-Maiduguri road (Section IV), Potiskum-Damaturu N4billion, Rehabilitation of Gwoza-Damboa-Goniri–Ngamdu, Borno State N3billion, Mayo Belwa-Jada-Ganye-Ganye-Tougo, Adamawa State N3billion, Construction of Ibi bridge N2billion and rehabilitation of Nguru-Gashua-Bayamari road, section II PhaseII, Yobe State N1.5billion.
While in the Southwest, a total of six roads are expected to be covered.
They are Construction of the outstanding sections of Benin-Ofosu-Ore-Ajebandele-Shagamu expressway phase III N4.5billion, pavement strengthening and asphalt overlay of Ajebandele-Ijebu Ode-Shagamu road Ogun state N4.5billion, Dualisation of Ibadan-Ilorin section II Oyo State N5billion, Rehabilitation and expansion of Lagos-Badagry expressway(Agbara junction-Nigeria/Benin Border, Lagos state N4.5billion, rehabilitation of the outer Marina road, Lagos N4billion and dualization of Lagos-Ota road, Lagos State N4.557billion.
Apart from the two geographical zones, the 2020 SUKU provision for North-Central, North-West, South-East and South-South are; N26.5billion, N26.5billion, N26billion and N26billion all respectively.
The Minister of Works and Housing, Babatunde Fashola last week, received a total of N162.5billion Sovereign Sukuk Symbolic Cheque for the construction of 44 road projects across the country.
The newly released sum makes it the final tranche of the total N462, 5577,000,000 raised by the Debt Management Office (DMO).
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Nigeria’s tally of confirmed COVID-19 cases on Saturday rose to 40,532 as 555 new infections were announced by the Nigeria Centre for Disease Control (NCDC)…
Read Full Story
N162.5bn 2020 SUKUK fundsThe dust is yet to settle over claim and counterclaim on the list of lawmakers in the eighth and previous assemblies who benefitted from contracts from the Niger Delta Development Commission (NDDC) as the National Youth Council of Nigeria (NYCN) claims the Minister of Niger Delta Affairs actually listed the names of the…
Read Full Story
Now, if the seller does not sell, what shall the buyer buy? Fear of death and disease has emptied the entertainment shelf of life everywhere. It is worse in Nigeria. There is nothing new on DSTV again to kill boredom and entertain us. No movie. No sports. What is shown as football is just a mimic of the real thing..N162.5bn 2020 SUKUK funds.
Read Full Story
SUSPENDED acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has denied media reports that the commission under him misappropriated the sum of N329 billion recovered for the Nigerian National Petroleum Corporation (NNPC). Magu denied what he termed…N162.5bn 2020 SUKUK funds
Read Full Story
GOVERNOR Udom Emmanuel of Akwa Ibom State says his administration has expended over N3 billion to contain the spread of COVID-19, but that such feat was achieved without commensurate support from the Federal Government in spite of billions of cash donated by individuals, corporate bodies, local and…N162.5bn 2020 SUKUK funds
Read Full Story
THE Central Bank of Nigeria (CBN) has warned that Participating Financial Institutions (PFIs) in the non-interest intervention programmesthat engage in diversion of funds risk a penalty at its maximum financing rate at the time of the infraction and such (PFIs)
…N162.5bn 2020 SUKUK funds Read Full Story
The Chief Press Secretary to Governor Seyi Makinde of Oyo State, Mr Taiwo Adisa, has asked the governorship candidate of the All Progressives Congress (APC) in the 2019 election, Mr Adebayo Adelabu, to rise above cheap politics in his criticisms of the state’s Prosperity Bond unveiled last Wednesday…N162.5bn 2020 SUKUK funds
Read Full Story