The decision by the Federal Government to float a N100bn Sukuk for infrastructure is another vindication that the Rauf Aregbesola administration in Osun has been forward-looking in its determination to turn the state around.
Special Adviser on Information and Strategy in Osun, Mr. Semiu Okanlawon, stated this on Wednesday.
He spoke against the backdrop of the move by the Federal Government to raise funds for roads construction through the interest-free bond.
Okanlawon, while congratulating the Federal Government for looking in the direction of Sukuk as an alternative revenue source for infrastructure provision, said Nigerians had reasons to give kudos to Aregbesola for his ability to identify and raise the awareness on Sukuk as an easier avenue of raising funds for live-changing projects.
It would be recalled that Osun, under Governor Aregbesola had in 2013 floated a N11.4bn Sukuk to fund government’s massive education infrastructure provision projects.
The Islamic bond, after its issuance, was oversubscribed by 20% at the time.
“It is gratifying to note that another in the chains of ideas that emanated from Osun has provided avenue for solving one of Nigeria’s national challenges.
“The news that the Federal Government is seeking to issue a N100bn Sukuk bond reminds us of how Osun under Governor Rauf Aregbesola blazed the trail in 2013.
“However, it is much more worthy of note that as usual with many of the novel developments ideas which were pioneered by the Aregbesola administration, the Sukuk adventure was met with stiff opposition by those who failed to comprehend the development initiatives of the governor.
“His government came under heavy criticisms and accusations of another attempt to use the Sukuk bond to Islamise the state. But Aregbesola, convinced of the clarity of vision and the reality of his intentions, pursued this to its logical conclusion and today, Osun is better for it,” Okanlawon stated.
