THE IMPACT OF SUKUK FINANCING ON INFRASTRUCTURE INVESTMENT FOR SUSTAINABLE DEVELOPMENT IN KANO METROPOLIS, NIGERIA
Abstract
Abstract
This study examines the impact of sukuk financing on infrastructure investment and sustainable development in Kano Metropolis, Nigeria. Sukuk, as a Sharia-compliant financing instrument, has been identified as an effective alternative for mobilizing long-term funds for infrastructure development, particularly in emerging economies facing fiscal constraints (IIFM, 2020; World Bank, 2021). Using a mixed-methods approach, the study finds that sukuk financing positively influences infrastructure investment and contributes to improved socio-economic outcomes such as enhanced public service delivery and employment generation. However, regulatory, institutional, and awareness challenges limit its optimal utilization at the sub-national level. The study concludes that strengthening governance frameworks and policy support is essential for maximizing the role of sukuk in promoting sustainable infrastructure development in Kano Metropolis and Nigeria at large.
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