Kogi State to Raise N50 Billion Sukuk for Airport and Markets by 2026

The Governor of Kogi State announced plans to raise N50 billion through Sukuk issuance for infrastructure development, including an international airport and modern markets, starting in March 2026. The Sukuk bonds will be fully asset-backed and deployed in line with Islamic finance principles.

The state government aims to accelerate economic transformation and attract private investment by focusing on transparent infrastructure projects. Despite past infrastructure challenges, the state government has obtained necessary approvals for the Sukuk issuance, emphasizing the need for transport and commercial infrastructure to unlock the state's economic potential.