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- Title
SUKUK MURABAHAH: A MECHANISM TO FINANCE INFRASTRUCTURE DEFICIT IN NIGERIAN TERTIARY INSTITUTIONS.
- Authors
Duku, Muhammad
- Abstract
Developed countries have actively engaged in producing and providing infrastructural facilities at all levels of development. The demands for infrastructure investment in developing nations quickly attract the country’s attention for the operation of organizational structures and the management of societal needs (e.g. roads, bridges, power, education, transport, health care services, communication, technology, and many other sectors). Therefore, the potentialities of tertiary institutions for the growth and development of Nigeria have been crippled by the complex administration by the way of inadequate financing and governance. Thus, this paper highlights the trend and nature of funding tertiary institutions in Nigeria. Therefore, the purpose of this study is to conceptually explore the past and present trends of funding tertiary institutions in the country and offer possible sources of funding tertiary institutions in Nigeria. A qualitative research method was employed by the study by gathering data from secondary sources. To conclude, Nigerian tertiary institutions have been experiencing infrastructure deficits as a result of poor funding and governance in the system. Therefore, the study examined that financing tertiary institutions in Nigeria is a remarkably complex stage. Tertiary institutions in Nigeria lack financing architecture for infrastructural facilities and support from the political class. The study also concludes that to increase the application of Murabahah financing number of steps include an awareness campaign among policymakers and stakeholders in Nigerian tertiary institutions about the philosophy and operations of Islamic capital market products and services. Therefore, this study posits that Sukuk Murabahah will play a significant role in financing and uplifting the standard of Nigerian tertiary institutions and bringing about national development. To link it up, Sukuk Murabahah has enormous potential to explore the Nigerian capital market as a mechanism for funding infrastructure in Nigerian tertiary institutions.
- Subjects
MURABAHAH; CUSTOMER satisfaction; CUSTOMER loyalty; BANKING industry; QUALITY of service
- Publication
Airlangga International Journal of Islamic Economics & Finance, 2023, Vol 6, Issue 1, p1
- ISSN
2579-9169
- Publication type
Article
- DOI
10.20473/aijief.v6i01.43819