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The paper seeks to examine the role of Islamic finance as a mediating instrument in a case of an increasing population and housing deficit. The paper adopted a content review analysis and a modified revenue function approach in analyzing the potentials of the instruments of Islamic finance. The study focused on zakat, sadaqah and sukuk as tools of Islamic financing. E-Sadaqah was analyzed based on the number of active Telecoms line subscribers in Nigeria, and if N20 is paid weekly at a 5% level of cash collection error rate coupled with an admin expenses of 15%. The study revealed that zakat has the potentials of generating about USD8M-USD21M while sadaqah could generate N154 billion annually. If combined they can be used to improve the welfare or needs of the growing population. The study further revealed that sukuk if issued to the tune of N1,002 billion which can be utilized to build about 330,820 housing estate across the six (6) geopolitical zone of the country. The study concluded that Islamic finance can contribute significantly in addressing these economic ills of increasing population and housing deficit. The study recommends that efforts should be made on public awareness in order to enlightened the Nigerian populace about benefits of zakat, sadaqah, sukuk via local media like TV, radio in local dialects, magazines, articles, legal framework such as Zakat Act is required and deployment of IT infrastructure. [ABSTRACT FROM AUTHOR]

This paper seeks to examine the role of Islamic bond (sukuk) in petroleum infrastructural development in Nigeria. The paper used a non-discounting method of project analysis (the payback period) to analyze 15,000 bpd modular refineries in six states spread across the oil producing areas. The project is intended to produce gasoline, diesel and kerosene products. It is estimated that a sum of N151billion sukuk is required for a period of 3years; the construction period is 18 months and the project can last for a period of 20 years before major repairs can be done. The study revealed that this would resulted in the production of 2.2billion liters of gasoline (premium motor spirit), 1.1bilion liters of diesel and 204 million liters of Kerosene per annum with a total gross annual revenue of N125 billion. The study concluded that sukuk would adequately contribute to the expansion and establishment of new refineries. This would help in the bridging of the existing demand-supply gap for petroleum products in Nigeria. [ABSTRACT FROM AUTHOR]

The paper seeks to examine the role of Islamic finance as a mediating instrument in a case of an increasing population and housing deficit. The paper adopted a content review analysis and a modified revenue function approach in analyzing the potentials of the instruments of Islamic finance. The study focused on zakat, sadaqah and sukuk as tools of Islamic financing. E-Sadaqah was analyzed based on the number of active Telecoms line subscribers in Nigeria, and if N20 is paid weekly at a 5% level of cash collection error rate coupled with an admin expenses of 15%. The study revealed that zakat has the potentials of generating about USD8M-USD21M while sadaqah could generate N154 billion annually. If combined they can be used to improve the welfare or needs of the growing population. The study further revealed that sukuk if issued to the tune of N1,002 billion which can be utilized to build about 330,820 housing estate across the six (6) geopolitical zone of the country. The study concluded that Islamic finance can contribute significantly in addressing these economic ills of increasing population and housing deficit. The study recommends that efforts should be made on public awareness in order to enlightened the Nigerian populace about benefits of zakat, sadaqah, sukuk via local media like TV, radio in local dialects, magazines, articles, legal framework such as Zakat Act is required and deployment of IT infrastructure. [ABSTRACT FROM AUTHOR]

Revamping agriculture has been the top agenda for government and Non Governmental organization (NGO's) taking into cognizance the rate of poverty and hunger that is ravaging the people of the world where Nigerian is not an exception. This is majorly attributed to inadequate food supply arising from the method of production adopted. This is against the backdrop that majority of the farmers in the country are small farmers who rely on the traditional method of production. To remedy this situation creates the needs to mechanize the agricultural system of production. Though, adopting this method of production, the financial capability of the farmers is a determining factor. Government has been spearheading this drive to mechanize its agricultural system but the resources at its disposal are very limited. The dwindling drop in oil prices in the international market, has been negatively affected revenues. This necessitates the need to adopt a waqf system, most especially the cash waqf where it will be incorporated as financing instruments like ijarah, musharakah to these farmers on cooperative basis. The study concludes that by rendering such services to farmers will gradually change the paradigm in terms of the practice of agriculture. i.e it will phase out the traditional agriculture to a mechanized agriculture. Furthermore, the study recommends that an act for setting up waqf should be formulated or a unit should be carved out of the existing structures, public awareness should be properly done, central registry of waqf should be created and such system should be digitalized so as to make collections easier. [ABSTRACT FROM AUTHOR]