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Kano Assembly approves Gov Yusuf’s N4bn loan request



The Kano State House of Assembly has approved Governor Abba Kabir-Yusuf’s request to access a loan of N4 billion from the Central Bank of Nigeria (CBN) for the completion of the Tiga and Challawa hydroelectric power project in the state.

This followed the adoption of a motion by the House Leader, Lawan Hussaini, at Friday’s plenary in Kano.

The governor had in a letter to the Assembly said the loan would be used for the completion of the project aimed at boosting the state’s economy through the revitalisation of industries, irrigation farming, and provision of street lights around the state.

READ ALSO: Gov Yusuf presents 2024 budget proposal of N350bn to Kano Assembly

In his presentation, Hussaini said the loan has a single-digit interest rate and therefore not harmful to the economy of the state.

He said that the project when completed would help in revving ailing industries in the state.

The Tiga Independent power project was initiated by former governor Rabiu Kwankwaso’s administration to generate 35MW using the Challawa and Tiga dams.

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