Sukuk’s role in financing infrastructural development during the covid-19 pandemic in Nigeria

• Main Authors: Usman, Abubakar Abubakar, Sa'ad, Auwal Adam
• Format: Book Chapter
• Language: English; English
• Published: Springer 2023
• Subjects: BPH Islamic Economics; BPH186.4 Bay' Al-Dayn - Debt Financing; JA Political science (General)
• Online Access: http://irep.iium.edu.my/105873/1/105873_Sukuk%E2%80%99s%20role%20in%20financing.pdf; http://irep.iium.edu.my/105873/7/105873_Sukuk%E2%80%99s%20role%20in%20financing_Scopus.pdf; http://irep.iium.edu.my/105873/; https://link.springer.com/chapter/10.1007/978-3-031-27860-0_21#DOI

The Covid-19 pandemic has affected the financing infrastructural devel- opment particularly in the Global South (GS). Amid the pandemic, Nigeria has found sukuk financing as an alternative source for financing some of its infrastruc- tural development. This article aims at investigating why sukuk offers a significant alternative source of financing infrastructural development in Nigeria. The article argues that the lack of availability of conventional sources of financing development, economic downturn caused by Covid-19, the potential investment return, the sukuk structure, and sukuk successes in other economies all contribute to the sukuk thriving as an important alternative source of financing infrastructural development in Nigeria.