The Kano State House of Assembly has granted approval to Gov. Abdullahi Ganduje for an additional N4 billion loan for power projects in the state.
This following the adoption of a motion by majority leader, Alhaji Labaran Madari(APC-Warawa) during plenary on Wednesday in Kano.
Ganduje had transmitted a letter to the House seeking approval for the loan to finance the final phase of Challawa- Goje and Tiga Hydro Electric Power Project.
The governor, in the letter, explained that the State Executive Council at its meeting on Oct. 6, 2020, deliberated on the project and approved an additional N4 billion loan facility from the Central Bank of Nigeria’s Power and Aviation Intervention Fund for its completion.
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“This is due to the fact that the earlier N10 billion loan obtained was inadequate for completion of the project and considering the present economic challenge and naira exchange rate variation.
”And the project is dollar dependent, that’s why we requested for additional N4 billion to complete the project,” he said.
After deliberations by the lawmakers, the house unanimously approved the request.
