On behalf of the Federal Government, the Debt Management Office (DMO) issued a N250 billion sovereign sukuk bond between the 16th and 23rd of December 2021, with a 346 percent subscription rate worth over N865 billion.1 The sovereign sukuk bond has a tenor of ten (10) years at a rental income of 12.80 percent per annum to be paid semi-annually. An analysis of the subscription data showed more diverse participation by investors, with high levels of subscription from banks and fund managers (including pension funds), as well as non-interest financial institutions, ethical funds, cooperative societies, and retail investors. This reveals that the DMO’s objectives of issuing sovereign sukuk bonds to grow the domestic investor base and promote financial inclusion is being achieved. The agency has reaffirmed that the proceeds of the N250 billion sovereign sukuk bond will be used to continue financing the rehabilitation and reconstruction of critical economic road projects across the six (6) geopolitical zones and the Federal Capital Territory. Given its observable impact on road infrastructure in terms of job creation, travel time, safety, and movement of goods, the sukuk bond has proven to be a beneficial instrument for financing economic growth and development. If duly implemented, the projects would reduce the cost of transportation, create more access to markets, lower commodity (especially food) prices, and also improve the country’s overall business environment.