- Kano approves ₦4 billion for the power project.
- The initial approved loan was inadequate to complete the project
The Kano State House of Assembly has granted the state Governor, Abdullahi Umar Ganduje, an additional ₦4 billion loan for a power project in the state.
The governor had transmitted a letter to the Assembly seeking approval for the loan to finance the final phase of the Challawa-Goje and Tiga Hydro Electric Power Project.
“This is because the earlier ₦10 billion loan obtained was inadequate for the completion of the projects, and considering the present economic challenge and naira exchange rate variation. Moreover, the projects are dollar-dependent; that’s why we requested an additional ₦4 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 ₦4 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, explained that the Assembly unanimously approved the request during the plenary.