Nigeria’s debt rises to N38 trillion as Buhari regime borrows additional N250 billion

President Muhammadu Buhari’s regime says it is seeking to borrow an additional N250 billion through the Sukuk bond as Nigeria’s debt burden rises to N38 trillion.

Specifically, the Debt Management Office (DMO) announced in a statement on its website the regime had offered for subscription N250 billion road Sukuk instrument for N1,000 per unit, indicating that the instrument was issued by “FGN Roads Sukuk Companies 1 Plc.”

The offer is N1,000 per unit subject to a minimum subscription of N10,000 and multiples of N1,000 thereafter.

“It qualifies as…