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Abuja, Niger Delta Road Projects to Benefit from N250bn Sukuk – DMO

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Abuja, Niger Delta Road Projects to Benefit from N250bn Sukuk - DMO

 

 

By Edozie Obasi-Eze

The proposed N250bn sukuk would go for financing key economic road projects identified by the Federal Ministry of Works and Housing, Federal Capital Territory Administration, and the Ministry of Niger Delta Affairs.

The Director-General, Debt Management Office, Patience Oniha, disclosed this on Monday in Abuja, during a media sensitisation programme on the debt issuance, where she extended invitation to investors within and outside Nigeria to participate in the sovereign sukuk.

It was gathered that the Ijarah sukus being offered at 12.8 per cent, 10-year and would be due in 2031, which opened on December 16 and would close on December 22, 2022.

According to Oniha the government was working to enhance revenue so that spending on other capital projects could be sourced locally instead of through loans.

In her words, “Sukuk is one of the instruments we use for borrowing. This is tied to some specific projects. The exchange rate has been relatively stable. Monetary policies affect lending rates. The sukuk we are looking to issue today is for roads and bridges. This time round, we are working with the FCT and Niger Delta Ministry — they have road projects.

“That is why the sukuk we are issuing is bigger. In terms of policy, the government is working to improve infrastructure and the borrowing is going into infrastructure. We are also focused on revenue so that the government can spend from there.”

Painting a clear picture of the specific roads to benefit from the sukuk, she added, “In Abuja, the route leading to the Apo roundabout from the Aso Rock Villa area is one of the roads to be funded by the bond.

Also, from Apo roundabout to the mechanic village is another stretch of road to be covered by funds raised from issuing the sukuk. In the Niger Delta area, the Federal Government plans to complete sections of the East-West Road, which stretches from parts of Delta to Oron in Akwa Ibom State.”

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2027: Shettima Arrives in Uyo for APC Presidential Campaign Rally

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Who is Senator Kashim Shetima, Tinubu's running mate

Vice President Kashim Shettima has arrived in Uyo, the Akwa Ibom State capital, for the All Progressives Congress (APC) presidential campaign rally ahead of the 2027 general elections.

The development was disclosed on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.

Akwa Ibom occupies a strategic position in President Bola Ahmed Tinubu’s Renewed Hope Agenda, with major federal investments expected to strengthen infrastructure and economic activities across the state.

SEE ALSO: 2027: Shettima Arrives in Lafia to Rally Support for Tinubu’s Re-election

One of the major projects is the Lagos–Calabar Coastal Highway, which has an approximately 82.8-kilometre stretch passing through Akwa Ibom.

The project, according to the statement, “promises improved connectivity, expanded trade, greater investment and new economic opportunities for communities across the region.”

Beyond infrastructure, the administration’s interventions in education, agriculture, healthcare, youth empowerment and social protection are also designed to improve livelihoods and broaden economic participation.

The Nigerian Education Loan Fund (NELFund) is among the initiatives highlighted, complementing Governor Umo Eno’s investments in roads, aviation, tourism and human capital development.

The statement noted that the Uyo rally provides “another opportunity to strengthen the APC’s growing political presence in the South-South and make the case for continuity in 2027.”

 

 

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Elohor Aiboni Honoured with DTN@100 Changemaker Award

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Executive Vice President and Country Chair, Shell Companies in Nigeria, Elohor Aiboni was among 100 people honoured with the DTN@100 Award.

She joined a list of distinguished recipients recognised by the Daily Times newspapers. The contributions of the awardees to national development will be documented in a special publication, titled Nigerian Grand Book.

Daily Times which started publication in 1926 gave the awards as part of its centenary celebrations in Lagos. The centenary theme is: “Honouring the Past, Shaping the Future.” Chairman, Folio Media Group and Publisher Daily Times of Nigeria Fidelis Anosike said: “We proudly celebrate Elohor Aiboni, Executive Vice President and Country Chair of Shell Companies in Nigeria, for her well-deserved recognition at the Daily Times Heroes Award. As a visionary female leader, Elohor has shown that true leadership is defined by action. Her forward-thinking policies continue to drive real, positive change across our nation.”

In her response, Elohor said: “Although this award is presented to me, I do not regard it as mine alone. I share it with my colleagues across the Shell Companies in Nigeria, our partners, and the many people I have had the privilege of working with and learning from over the years.”

Elohor was commended for her achievements in a career in the energy industry that started in Shell in 2002. In addition to serving in operational roles within and outside Nigeria, she has worked as asset manager for Bonga, leading up to her appointment as Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) in 2021, the first female to hold the post. Early this year, she took up the role of Executive Vice President and Country Chair, Shell Companies in Nigeria, also the first female and Nigerian to hold both roles.

READ ALSO: “8216;The Panic Is Real” Atiku Accuses APC of Plot to Weaken ADC

In her acceptance speech, Elohor also called for concerted efforts towards educating the girl-child. She said: “If we are serious about shaping Nigeria’s future, we must be equally serious about educating and empowering the Nigerian girl child. Education provides not only knowledge, but also confidence, choice and the opportunity to contribute meaningfully to her community and country.”
Photo Caption – L-R: Energy and Investment Solicitor, Sam Aiboni; Executive Vice President and Country Chair, Shell Nigeria, Elohor Aiboni; actress Rita Dominic; and Daily Times Chairman, Fidelis Anosike, during the award presentation at Harbour Point, Lagos.

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Tinubu Hails Flamingos After Historic World Cup Final Qualification, Urges Team to Win Trophy

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President Bola Ahmed Tinubu has congratulated Nigeria’s U-17 women’s national football team, the Flamingos, following their historic qualification for the final of the 2026 FIFA U-17 Women’s World Cup in Morocco.

The President commended the team for their impressive 3-1 victory over Brazil in Wednesday’s semi-final, describing their achievement as a remarkable milestone that has brought immense pride and joy to Nigerians at home and abroad.

In a statement issued on Thursday, November 5, by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu also praised the coaching crew and everyone whose hard work and support contributed to the team’s successful campaign.

SEE ALSO: 2027: Shettima Arrives in Lafia to Rally Support for Tinubu’s Re-election

With the Flamingos set to face Japan in the final, the President urged the players to remain focused, confident and determined as they pursue the historic world title.

“I encourage you to approach the final with the same fighting spirit and belief that have brought you this far. I have confidence in your ability to make history by winning the coveted world title,” he said.

Tinubu also called on Nigerians to rally behind the young players, describing them as national ambassadors whose achievements continue to showcase the country’s sporting excellence.

He said the team’s performance would inspire a new generation of girls to pursue their dreams without limitations.

“Once again, Nigeria is proud of you. Go for the trophy, Flamingos!” the President added.

 

 

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