By Prince Okafor
NIGERIA’s foremost entrepreneur and Africa’s richest man, Aliko Dangote, has described the debut N100billion Federal Government of Nigeria Sukuk offer as a paradigm shift in government’s effort aimed at seeking alternative funding for critical infrastructure.

Aliko Dangote

Speaking in Lagos when the Director-General of the Debt Management Office (DMO), Ms. Patience Oniha, paid him a courtesy visit, Dangote described the Sukuk as a commendable initiative and urged Nigerians to invest in the offer.

He said, “I must commend the Debt Management Office for having this creativity with this N100 billion Sukuk initiative. It is a right move in the right direction as government seeks for fresh capital to fund infrastructure in the country. I want to urge Nigerians to invest in the offer as it is high yielding with 16.47 percent. It is tax free and will be beneficial to all who invest in it, as it will enhance infrastructural growth.”

Speaking earlier, Oniha said the purpose of her visit was to solicit Dangote’s support for the debut Sovereign Sukuk offer, stressing that the funds will be dedicated solely to road infrastructure.

Oniha explained that the DMO and the Federal Ministry of Power, Works and Housing have identified 25 major road projects across the six geo-political zones which the proceeds from the issuance of the Sukuk will be used to develop.