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Federal Government Invests N16bn Sukuk Bond On South East Roads - Politics (3) - Nairaland

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Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by bionixs: 12:37pm On Mar 01, 2018
anaton:
Good one for the southeast.But Buhari must go in 2019. grin
one hand
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by buhariguy(m): 12:43pm On Mar 01, 2018
anaton:
Good one for the southeast.But Buhari must go in 2019. grin
idiotic pigs of Biafra are terrorist hypocrites
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Oblang(m): 12:44pm On Mar 01, 2018
HajimeSaito:
grin

That is the spirit my dear Easterners. Let them waste their money in vain instead of spending it on feeding and educating hungry almajiris.

When we eventually break away from them and form our own country, we can laugh at their stupidity from the comfort of our homes.

Delusion
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Pataricatering(f): 12:46pm On Mar 01, 2018
modelmike7:

It's obvious you can't read. This is what hatred do to you, it doesn't make you think like a normal human being.
So because the money was invested, then SUDDENLY and MIRACULOUSLY the new road will just appear?
You sleep and wake up to see the new roads?!
Smh

Read this again
(He listed the sections to include the Enugu – Onitsha expressway, Enugu – Lokpanta, Lokpanta – Abia Tower and Abia Tower – Aba section of the Enugu – Port Harcourt expressway. At the 9th Mile – Enugu section of the Enugu – Onitsha Expressway, )



The Government is building your roads and you termed it 'let them waste their money?'
How old are these people for Krisssake?!
first ask him where Nnamdi Kanu is ? Lol
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Davidflight: 12:47pm On Mar 01, 2018
silastemplar:
you havent made any point o

And have you made any yourself?
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Nobody: 12:48pm On Mar 01, 2018
anaton:
Good one for the southeast.But Buhari must go in 2019. grin
Ungrateful beings. Buhari stays till 2023
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by LZAA: 12:50pm On Mar 01, 2018
alphonsojaybaz:
FEDERAL GOVERNMENT INVESTS N16BN SUKUK BOND ON SOUTH EAST ROADS
source: http://www.eyesoflagos.com/2018/02/federal-government-invests-n16bn-sukuk.html

The federal government has invested N16.6 billion of the N100 billion Sukuk Bond for the rehabilitation of some roads in the South East geopolitical zone. In October 2017, the federal government had released the proceeds of the N100 billion Sukuk bond to 25 key economic road projects across the country. Eyes Of Lagos gathered that, The director of Highways, South East, Federal Ministry of Works, Mr Adetokunbo Sogbesan, made the disclosure in Enugu yesterday during a media tour of ongoing federal projects in the zone. Sogbesan said the investment is aimed at improving road infrastructure in the zone, adding that four different road sections were covered by the fund. He listed the sections to include the Enugu – Onitsha expressway, Enugu – Lokpanta, Lokpanta – Abia Tower and Abia Tower – Aba section of the Enugu – Port Harcourt expressway. At the 9th Mile – Enugu section of the Enugu – Onitsha Expressway, Sogbesan expressed satisfaction on the job done so far by the contractors, Reynolds Construction Company Ltd (RCC). He said the project, which covered a distance of 58km, is from Amansea in Anambra to Enugu. “Forty kilometres of the road is in Anambra while 18km is in Enugu section of the road. The contractors have achieved about 35 per cent completion of the project,” he said. He said that with the quality of job being done by the contractors, the road would make its expected lifespan of between 20 years and 30 years. Sogbesan, however, expressed concern over the heavy traffic flow on the road. He said, “I pray we get more funding so as to deliver this project at the right time. This project will improve transportation infrastructure. The micro-economy impact of this road will go a long way to help Nigerians”. Also, the federal controller of Works, Enugu, Mr Oluropo Oyetade, said that monitoring of the project had been encouraging since the contractors reported to site. Oyetade said that the contract with a completion period of 36 months was awarded in 2014 but was not funded till 2017, just as he noted that the job is expected to be delivered by December 2019. In a related development, the federal government has said it will use Infrastructure Bond Investment from financial institutions and investors to expedite execution of road and housing projects across the country. According to a statement from the information unit of the Works department, the Minister of Power, Works and Housing, Babatunde Fashola, disclosed this while receiving institutional investors, including HSBC, China group 3 and 4 led by the managing director of Stanbic IBTC, Dr. Damola Sogunle, in his office yesterday. Fashola explained that to finance road/bridge projects through Tax Relief and Islamic banking “Sukuk” cannot be enough to provide infrastructure development in Nigeria. He added that Infrastructure Bond Instrument will complement government efforts at providing the needed critical infrastructure to end users. The Minister however expressed the need for a reset in the housing sector in the country, emphasising that the “financial establishment must stand as the vanguard of the reset” by borrowing a leaf from countries that have successfully utilised similar investment practice, such as United Kingdom. Fashola disclosed that the Pilot Home for the National Housing Programme of the present administration has taken off in 33 states of the federation. This, he said, is made up of one to three bedrooms model, which are expected to be valued accordingly, considering the standard and infrastructure. The minister further disclosed that the federal government, currently holding 40% equity in the power sector, is of the opinion that privatisation is logical, arguing that it has been successful in the media, banking, aviation sectors amongst others. According to him, the Ministry will optimise on existing capacity even as government has approved distribution extension programme in power.
Ewedu goblins with their sticky fingers filled with hate are already bouncing all over the threadgrin grin
pathetic things grin
cc imhotep

1 Like

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Cooly100: 12:53pm On Mar 01, 2018
buhariguy:
idiotic pigs of Biafra are terrorist hypocrites

...but Fulani herdsmen are angelic Islamic clerics..abi?

1 Like

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by mrintegrity30(m): 12:53pm On Mar 01, 2018
100bn naira/6 geopolitical zones= 16.67bn naira. or weren't d other zones given part of d cash?

3 Likes

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by derancle: 12:53pm On Mar 01, 2018
Lipscomb:
God bless buhari and fashola.buhari till 2023 Jonathan their Messiah didn't build toilet for them till he was kicked out .yet buhari their enemy continue the good work.
which road in South east, apc is full of liars

1 Like

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by phreakabit(m): 1:22pm On Mar 01, 2018
Definition of sukuk (Islamic bonds)

Islamic bonds, structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest).

Sukuk represents undivided shares in the ownership of tangible assets relating to particular projects or special investment activity. A sukuk investor has a common share in the ownership of the assets linked to the investment although this does not represent a debt owed to the issuer of the bond.

In the case of conventional bonds the issuer has a contractual obligation to pay to bond holders, on certain specified dates, interest and principal. In contrast, under a sukuk structure the sukuk holders each hold an undivided beneficial ownership in the underlying assets.

Consequently, sukuk holders are entitled to a share in the revenues generated by the Sukuk assets. The sale of sukuk relates to the sale of a proportionate share in the assets.[1]

Since the beginning of 2000, sukuk have become important Islamic financial instruments in raising funds for long-term project financing. The first sukuk were issued by Malaysia in 2000, followed by Bahrain in 2001. Since then sukuk have been used by both the corporate sector and states for raising alternative financing. While sukuk issuance was affected by the global financial crisis, since 2011, sukuk have been growing in popularity. [2]

Example

There are various types of sukuk structures relating to the nature of the underlying asset. The most commonly used is where the sukuk relates to a partial ownership of an asset (sukuk al-ijarah). Other types of these bonds relate to partial ownership in in a debt (sukuk murabaha), project (sukuk al-istisna), business (sukuk al-musharaka), or investment (sukuk al-istithmar).


JUST SO PEOPLE UNDERSTAND THE EVIL THAT IS GOING ON HERE..... Hmm!
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by opty042: 1:31pm On Mar 01, 2018
STORY WHICH ROAD IN SOUTH EAST. BUHARI IS A MONUMENTAL FISCAL. HE MUST GO BACK TO DAURA.

3 Likes

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by madapcmod: 1:32pm On Mar 01, 2018
prosnadis:
Are u the only one in South east, the question is.... Is there massive work going on the roads mentioned? The answer is big YES

Shut up and devil punish you for this blatant devilish lies! No work, I repeat no work is going on on that road apart from the patched works by ferma on the only used lane as d other lane has been scrapped off without any work on it.

Shame on all of you liars! I ply this road every weekend and my shock absorber has been the sacrificial lamb that bears the brunt of the poorly patched road by ferma

Amadioha punish you, fashola, and buhari for these lies

2 Likes

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by calyto: 1:42pm On Mar 01, 2018
Ok we have heard.

But to be replaced by who?

That is the question no one ever answers.





anaton:
Good one for the southeast.But Buhari must go in 2019. grin
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by clogogo(m): 1:43pm On Mar 01, 2018
HajimeSaito:
grin

That is the spirit my dear Easterners. Let them waste their money in vain instead of spending it on feeding and educating hungry almajiris.

When we eventually break away from them and form our own country, we can laugh at their stupidity from the comfort of our homes.

Sorry to say you are So dump....
Do you know how much an average Easterner has wasted already....
Even now the Eastern villages are loosing development.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Obdk: 1:59pm On Mar 01, 2018
clogogo:

Sorry to say you are So dump.... Do you know how much an average Easterner has wasted already.... Even now the Eastern villages are loosing development.

u re dumb. seriously
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by KanuJEWSarePIGS: 2:04pm On Mar 01, 2018
BohaLi pRan to moslEhMIZE awa Load shall fail.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by KanuJEWSarePIGS: 2:11pm On Mar 01, 2018
modelmike7:

It's obvious you can't read. This is what hatred do to you, it doesn't make you think like a normal human being.
So because the money was invested, then SUDDENLY and MIRACULOUSLY the new road will just appear?
You sleep and wake up to see the new roads?!
Smh

Read this again
(He listed the sections to include the Enugu – Onitsha expressway, Enugu – Lokpanta, Lokpanta – Abia Tower and Abia Tower – Aba section of the Enugu – Port Harcourt expressway. At the 9th Mile – Enugu section of the Enugu – Onitsha Expressway, )



The Government is building your roads and you termed it 'let them waste their money?'
How old are these people for Krisssake?!


Okay!

Now that you have taught them some lessons and afterward, destroyed them beyond repair, what is your payment plan?


Sensible Igbos thinks well but IPOB MISCREANTS, I can guaranty you loads of senseless comments.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by uprightman(m): 2:15pm On Mar 01, 2018
obailala:
Funny how the N100bn Sukuk fund was shared equally across all the 6 zones of the country, but the title of this report/thread just had to mention only the south east. I guess that's what happens when a zone becomes too 'popular.'
They campaigning.
They are saying this because South East is not part of Nigeria.But because of buhari love for South East.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by piagetskinner(m): 2:25pm On Mar 01, 2018
if you like rehabilitate and construct all the roads in the south east.....you are still going back to daura in 2019

2 Likes

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by bigpicture001: 2:26pm On Mar 01, 2018
electioneering roads.stupid govt.plz don't build any road in d south east..and must d govt play a religious card to d southeast. does it mean money from federal govt revenue can't build roads in d south east? only Islamic Bond money can.useless triabalized nd religious crazy govt....

2 Likes 1 Share

Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by kabawa(m): 2:30pm On Mar 01, 2018
joudini:


Mumu. The sukuk bond is a federal government investment not a Muslim investment. The FG can decide to invest in a Christian bond or Hindu bond...whatever.

In the same vein, sharia states should stop sharing in VAT from alcohol, tobacco etc.

Pathetic zombie.

Why are you crying ?
Who take meat for your rice?
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Ahamefuna0001(m): 2:37pm On Mar 01, 2018
Brains1990:
Those motherfvckers did nt vote 4 buhari, bt they want to benefit his administration. Fvck IPOB.

If e pain you well we'll kindly go and stop them from investing the 16b in the south eastern roads.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by lereinter(m): 2:46pm On Mar 01, 2018
Lipscomb:
God bless buhari and fashola.buhari till 2023 Jonathan their Messiah didn't build toilet for them till he was kicked out .yet buhari their enemy continue the good work.

fed govt and buhari
so gej didnt construct road so buhari has performed a miracle by using sukuk fund not his salary to construct


didnt you read the news that deeper life construct bridge in lagos are they the govt of lagos
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by shallysgirl: 3:03pm On Mar 01, 2018
Where the roads
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by luggy(m): 3:20pm On Mar 01, 2018
which southeast, thare criminals
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by Onugbu(m): 3:21pm On Mar 01, 2018
Youngadvocate:
The kind of stench of lies that proceed the mouth of all APC members is more positive that Ak47.

Is it the South East Nigeria they are talking about or South East Ghana.

Do these people even have single sense of moderating lies at all? At least make your lies believable!!
Oga before you type, first investigate. Everything in this news is truth, i passed the enugu-onitsha express last two months and work was going on there, u will even see SUKUK boldly written there. I also went to ebonyi last week from port Harcourt and they were also working on the enugu-aba express. Before u talk u have to be sure
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by TheKingIsHere: 3:43pm On Mar 01, 2018
marvin906:
whether una build bridge for them or not..
the east is already consumed with hatred..
they wont still see anything good
thats why they will never move forward undecided undecided
and the lord of statues will be their punishment

Just the same way the north are consumed with hatred for GEJ despite GEJ built roads and schools for them.

That's why the north will always remain backwards and cursed.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by marvin906(m): 4:14pm On Mar 01, 2018
TheKingIsHere:


Just the same way the north are consumed with hatred for GEJ despite GEJ built roads and schools for them.

That's why the north will always remain backwards and cursed.





na one rope tie both of them..
that's why the west will always be ahead of both undecided undecided
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by CoolAmbience(m): 4:19pm On Mar 01, 2018
anaton:
Good one for the southeast.But Buhari must go in 2019. grin

Go where? Stop kidding yourself.

Bring your candidate.
Re: Federal Government Invests N16bn Sukuk Bond On South East Roads by prosnadis(m): 4:42pm On Mar 01, 2018
Ur very stupid. Let the amadioha wipe out ur family... Idiot. U don't have a tyre, talkless of having a shock absorber. If u say work is not on going on that axis, ur a bastard.
madapcmod:


Shut up and devil punish you for this blatant devilish lies! No work, I repeat no work is going on on that road apart from the patched works by ferma on the only used lane as d other lane has been scrapped off without any work on it.

Shame on all of you liars! I ply this road every weekend and my shock absorber has been the sacrificial lamb that bears the brunt of the poorly patched road by ferma

Amadioha punish you, fashola, and buhari for these lies

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