Business Osun State floats Islamic bond of N10 billion

In an effort to boost the economy of the State and create more job opportunities for its people, the Osun State Government has floated its N10 billion Sukuk bond. The Islamic bond will attract investors to the State, where robust opportunities in commerce, tourism, agriculture and other sectors offered.

The announcement was made by the Executive Governor of the State, Governor Rauf Aregbesola in Lagos at an investment forum organized to attract support for the bond.

In his speech, he noted that for a Nation to eradicate poverty totally, policies and programmes should be aimed at empowering the citizens and developing their human capacity. According to him, his administration was people-centred, which was why the state had the least ratio on the poverty index and unemployment rate in Nigeria. He noted that this has been made possible through an increase in the internally generated revenue from the meager sum of N300 million inherited from previous administration to N1.6 billion monthly.

“This is why our government is poised on investing on the people of the state so as to expand the economy and create more wealth.

“Our various investments in education, health, transportation, agriculture and social infrastructures are therefore directed towards achieving optimum level of human production,” he said.

With the construction of modern school facilities and roads going on in the state, it is expected that the State in no time will attract investors, thus accelerating economic growth. He added that with less than three per cent poverty index and least unemployment rate, coupled with the upgrade of infrastructural facilities, Osun was a fertile ground for rapid investment growth.

He noted that his past three years in office had been focused on massive and all round development of the state in every socio-economic and political sphere.

The achievements of which he said were due largely to strategic governance with some intervention on the condition of good living of the people.

He cited the examples of government’s investments on school uniforms for pupils as well as expenditures on MKO Abiola International Airport- the expenditure, which, according to him, would be recouped in five years.
jeff juwana

jeff juwana

Every State is going into this bond thingy. I hope they do it sincerely and not for selfish reasons.
But sincerely, Gov Aregbesola has been on point over time.
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