Securitisation of Sovereign Assets for Sukuk in Nigeria
| dc.contributor.author | Zubair, Aishat Abdul-Qadir | |
| dc.date.accessioned | 2026-04-27T08:36:00Z | |
| dc.date.available | 2026-04-27T08:36:00Z | |
| dc.date.issued | 2024 | |
| dc.description.abstract | According to the Nigerian Debt Management Office (DMO), the volume of Nigeria’s sovereign Sukuk, an Islamic instrument for funding infrastructure projects, reached over 600 billion Naira realised from five issuances between 2017 and 2022. Despite the success recorded in the issuance and the increasing interest by investors globally in the Nigerian Islamic Capital Market, the securitisation of sovereign assets for the issuance of Sukuk remains controversial due to various Shari’ah issues identified with the process. This article reviews the existing literature on the securitisation of sovereign assets for Sukuk in Nigeria. By synthesising a wide range of scholarly works, policy documents, and empirical studies, the literature review undertaken in this article aims to elucidate the key factors, challenges, and implications associated with the approach to securitisation. The review reveals that while securitisation of sovereign assets can offer benefits such as diversification of funding sources, unlocking dormant assets, and attracting foreign investment, it also presents challenges such as ownership complexities, potential loss of control over assets, and market volatility. The analysis presented in this article contributes to a deeper understanding of the securitisation of sovereign assets for Sukuk issuance in Nigeria. As Nigeria seeks to sustainably meet its funding requirements and align with Islamic finance principles, the insights presented in this article serve as a valuable guide for informed decision-making in the realm of sovereign asset-backed Sukuk issuance | |
| dc.identifier.uri | https://kwasuspace.kwasu.edu.ng/handle/123456789/6773 | |
| dc.publisher | Legal Transformation in Muslim Societies | |
| dc.title | Securitisation of Sovereign Assets for Sukuk in Nigeria |