Kano Assembly Approves Ganduje’s N4bn Loan Request for Power Project

By Ibrahim Shuaibu

The Kano State House of Assembly has granted the state Governor, Abdullahi Umar Ganduje, an additional N4 billion loan for a power project in the state.

THISDAY gathered that the governor had transmitted a letter to the Assembly seeking approval for the loan to finance the final phase of Challawa-Goje and Tiga Hydro Electric Power Project.

“This is because the earlier N10 billion loan obtained was inadequate for the completion of the projects, and considering the present economic challenge and naira exchange rate variation. And the projects are dollar-dependent; that’s why we requested an additional N4 billion to complete the projects,” the governor stated in a letter.

Ganduje in the letter explained that the State Executive Council at its meeting on October 6, 2020, deliberated on the projects and approved an additional N4 billion loan facility from the Central Bank of Nigeria (CBN) Power and Aviation Intervention Fund at its completion

Adopting the motion to the Assembly, the Majority Leader, Mr. Labaran Abdul Madari, during the plenary, explained that the Assembly unanimously approved the request.