The Impact of Islamic Finance on Road Transport Infrastructure in the North-East Zone, Nigeria

Sunusi Abdulkarim

The Impact of Islamic Finance on Road Transport Infrastructure in the North-East Zone, Nigeria

  • Author Sunusi Abdulkarim
  • Co-Author Muhammad Zaly Shah, Nafiu Abubakar Babaji, Musa Shitu Maisalati, Shuaibu Muhammad, Dahiru Abdulmumin, Usman Abdullahi, Aminu Muktar Isa, Musa Bala Ribah
  • DOI 10.17605/O
Keywords : Islamic Finance, Sukuk Bond, Road Transportation, Infrastructures. North-East.


Abstract

Sukuk bond is becoming one of the most improved products of Islamic Finance. It has become alternative source of funding to bridge infrastructural gaps both in developed and developing nations. The aim of this research is to study the impact of Islamic Finance on Road Transport Infrastructures in the North-East Nigeria. The research was qualitative and relied on secondary sources. The information was gathered through a survey of pertinent literature, including published materials and official government papers, which were then evaluated using thematic analysis. The findings revealed that, sukuk bond have impacted significantly on road transport infrastructures in the region as many roads that link major cities were completed while other sections of the road were on various stages of completion and new roads that remain unattended over the past four decades are flag-off for constructions. This development, has boost the economics activities in the region and improved the standard of living of the citizens through providing ease access to schools, hospitals, marketplace, jobs opportunities. Conclusively, sukuk bond is still in an infancy stage in Nigeria but it has made tremendous impact on road transport in the North-East Nigeria as many roads that were abandoned due to the lack of funds which hindered the economic activities in the geopolitical zone are completes. To this end, the study recommended that, the government at all levels should put effort in issuing more Islamic Finance instruments like sukuk bond as it will help in bridging transport infrastructural gaps which remain the backbone of economics activities in the region and the country in general.

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