Kano Set to Launch Sukuk Bond for Infrastructure Development
The Kano State Government has announced plans to launch a Sukuk bond as part of efforts to diversify funding sources and strengthen infrastructure financing.
The announcement was contained in a statement issued by Ameen K. Yassar, Director of Public Enlightenment, Kano State Ministry of Finance.
The Director-General of the State Debt Management Office (DMO), Dr. Hamisu Sadi Ali, disclosed this during the opening of a two-day workshop on the development of the state’s 2026–2027 Medium-Term Debt Management Strategy (MTDS).
Explaining the concept, Dr. Sadi Ali noted that Sukuk are Islamic financial certificates that mirror conventional bonds but operate in line with Shari’ah principles. Unlike traditional interest-based bonds, Sukuk investors gain partial ownership of assets purchased with the funds.
“This innovative financing instrument will not only diversify our funding sources but also align with ethical investment principles, while channeling resources into priority infrastructure projects that will benefit our citizens,” he said.
The DMO boss assured that Kano State’s debt profile remains within the approved fiscal threshold, stressing that the current administration is committed to sustaining fiscal discipline.
“Our Medium-Term Debt Management Strategy is not just about borrowing; it is about managing risks, reinforcing fiscal policy, and creating a strong and sustainable foundation for development,” Dr. Sadi Ali explained.
He further highlighted that the MTDS will help reduce macro-financial risks, deepen the domestic capital market, and support the growth of a functional government securities market.
According to him, the 2026–2027 MTDS represents a roadmap to sustainable debt management, fiscal responsibility, and economic resilience.
“It reflects our collective resolve to ensure that every borrowing decision is guided by prudence, responsibility, and the ultimate goal of improving the lives of our people,” he added.
