By Hussaini Ibrahim Sulaiman
The Kano State Government will soon launch a Sukuk bond, the Director-General of the State Debt Management Office, Dr. Hamisu Sadi Ali, has announced.
He gave the indication during the opening of a two-day workshop on the development of Kano State’s 2026–2027 Medium-Term Debt Management Strategy (MTDS).
The development was contained in a statement issued to The Triump on Saturday by Ameen K. Yassar, Director, Public Enlightenment, Kano State Ministry of Finance.
Sukuk are Islamic financial certificates that mirror conventional bonds in Western finance but adhere to Shari’ah principles.
Unlike traditional interest-bearing bonds, sukuk involve selling certificates to investors, who then gain partial ownership in an asset purchased with those funds.
“This innovative financing instrument will not only diversify our funding sources but also align with ethical investment principles, while channeling resources into priority infrastructure projects that will benefit our citizens,” Dr. Sadi Ali emphasized.
He noted that while Kano State’s debt remains well within the approved fiscal threshold, the present administration 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,” Dr. Sadi explained.
According to him, the MTDS also helps the state government reduce macro-financial risks and deepen the domestic capital market by supporting the growth of a functioning government securities market.
He further stressed 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.