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FG Closes N3.1trn 2021 Domestic Borrowing
With the latest N250billion Sukuk, the Debt Management Office (DMO), has successfully brought to close, the sum of N3.143trillion domestic borrowing contained in 2021 budget.
All of the domestic borrowings had been realised prior to now say for N250billion, whose offer was unveiled to both institutional and private investors at an investors’ forum in Abuja, yesterday.
Addressing investors and media in Abuja, Director-General of DMO, Ms. Patience Oniha noted that unlike previous Sukuk bond offer that had only Federal Ministry of Works and Housing as sole government’s agency to utilise proceeds for road construction, the N250billion Sukuk has two other ministries, Federal Capital Territory (FCT) and the Ministry of Niger Delta Affairs.
Amongst roads listed for construction by Federal Ministry of Works and Housing, include, Abuja-Lokoja road section iv (Koton Karfi-Lokoja); dualisation of Obajana junction to Benin phase 2: section 1 (Obajana junction to Okene); construction of Oju/Loko-Oweto bridge to link Loko and Oweto with approach roads; Makurdi–Naka–Adoka–Ankpa Eoad in Benue State; construction of Baro Port to Gulu town in Niger State and reconstruction of Nasarawa-Loko road in Nasawara State section, amongst others.
The ministry has road projects to construct across the six geo political zones of the country.
For FCT, some of the road projects to be constructed with its share of N37billion Sukuk include, to construct southern parkway from Christian Centre (S8/9) to Ring Road I (RR I); completion of roads B6, B12 &Circular Road, Abuja Central Area, rehabilitation and expansion of outer southern expressway from Villa Roundabout to OSEX/Ring Road 1 and (RR1) junction, among others.
Ministry of Niger Delta Affairs, with N75billion Sukuk proceeds will carry out dualisation Of East-West Road (Section II-I) Port Harcourt-Ahoada, 47Km; dualisation of East-West Road (Section II-II) AhoadaKaiama, 54Km; upgrading of 15km of section III from PortHarcourt-Eleme Junction to Onne, Port Junction, amongst other roads to be constructed.
Giving background to the Sukuk offer in an interview with journalists, Ms. Oniha gave overview of current and previous Sukuk bond issuance by DMO.
“The purpose of today’s event is to achieve two objectives: sensitise the media on issuance of fourth Sukuk as well as to invite investors within and outside Nigeria to tell them about sovereign Sukuk we are about to issue.
“By a way of background, the DMO had issued three Sukuk previously- 2107, 2018 and 2020, raising a total of N362.57billion to finance road projects across the six geo political zones of the country. That has been extremely successful and has both the DMO as the face of government for borrowing and others. The average citizen on the road has been impressed with what the Sukuk has contributed to the economic growth and development.”
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I’m Committed To Community Dev – Ajinwo
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RSG Tasks Rural Dwellers On RAAMP …As Sensitization Team Visits Akulga, Degema, Three Others

Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their living conditions.
This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.
Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s
She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.
According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.
The Head of Service also said the programme would support the youths to be gainfully employed while bridges and roads will be built to link farms and fishing settlements.
Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.
Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.
According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.
He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.
Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may lead to the cancellation of the project by the World Bank.
During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.
The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.
He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.
Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.
They, however, complained over the incessant attacks by pirates on their waterways.
At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.
King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.
Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.
Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.
At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.
He also expressed fears over the possibility of the project being hijacked by politicians.
Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.
John Bibor
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Senate Replaces Natasha As Committee Chairman

The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.
Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.
Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.
Bassey is the senator representing Akwa Ibom North-East Senatorial District.
Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.
In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.
However, the Senate has insisted it has not received a certified true copy of the court judgment.
Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.
In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.
Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.
Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.
“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.
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