Dreaming of Wakanda

  https://cdn.punchng.com/wp-content/uploads/2023/10/06104612/Sukuk-road-1280x720-1.jpg Nigeria is a rapidly developing country with a population of over 200 million people. The country is blessed with abundant natural resources, but it also faces a number of challenges, including a significant infrastructure deficit. Infrastructure development is essential for economic growth and job creation. It helps to reduce the cost of doing business, improve the movement of goods and people, and attract foreign investment. It's the backbone of progress, connecting cities, empowering industries, and improving the lives of millions. Finding innovative solutions to bridge this gap is paramount. One such solution so far seems to be Sukuk financing. Sukuk is an Islamic financial instrument that is similar to a conventional bond. However, Sukuk investors are essentially financing the purchase of an asset, which is then leased back to the issuer and instead of paying interest, sukuk investors recei...

  Nigeria is Africa's largest economy and most populous country. It is also one of the most indebted countries in the world. In recent years, the country has faced a significant challenge in managing its debt situation. Nigeria's debt has grown over the years, driven by both external and domestic factors. External factors include fluctuations in global oil prices, which have a direct impact on its revenue generation due to its heavy reliance on oil exports. Domestic factors include fiscal deficits, inefficient public spending, and inadequate revenue diversification. According to figures from the Nigeria Debt Management Office ( DMO ), Nigeria's public debt stock stood at N87.36 trillion ($113.4 billion) as of June 30, 2023. This represents about 33% of the country's gross domestic product (GDP). While this debt-to-GDP ratio is relatively low compared to some other countries, it is still a significant burden for Nigeria, given its low level of income. In this article, we...