From Desmond Mgboh, Kano

Kano State Government will soon launch a Sukuk bond, the Director-general of the State Debt Management Office, Hamisu Sadi Ali has announced.

He made the announcement during the opening ceremony of a two-day workshop on Kano State 2026–2027 Medium-Term Debt Management Strategy (MTDS).

He explained that the financing instrument will not only diversify funding sources in the state but also will align itself with ethical investment principles while adding that it will channel resources into priority infrastructure projects that will benefit the people of the state.

He further said that while Kano State’s debt remains well within the approved fiscal threshold, the present administration in the state is committed to keeping it that way.

“Our Medium-Term Debt Management Strategy, MTDS, is not just about borrowing; it is about managing risks, reinforcing fiscal policy, and creating a strong and sustainable foundation for development”, Sadi exppalined.

According to him, it also helps the state government to reduce macro-financial risks and deepen the domestic capital market by supporting the growth of a functioning government securities market.

He explained that the 2026–2027 MTDS represents more than just figures and projections but 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”, the Director-general added.

Sunday reports that SUKUK is an Islamic financial certificate that mirrors bonds in Western France but adheres to Shari’a principle.