The N100 billion Sukuk, a non-interest bond that is being issued by the federal government is another opportunity for investors to earn returns and contribute to the infrastructure development of the country, writes Goddy Egene Since the fall in price of crude oil, the revenue of the federal government has been affected significantly given that oil was a major source of government funds. As a result of the decline in revenue, the government has been contending with the challenge of financing its budget deficit. And the onus for the efficient management of government’s debt and sourcing for funds to finance budget deficits rests on the Debt Management Office (DMO). However, the agency, under the management of Dr. Abraham Nwankwo, has been using innovative strategies to raise funds to successfully fund the budget deficits over the years. While DMO has been raising funds through bonds both on the domestic and international markets, the agency is now accessing the local market for N...
Comments