The N4 billion loan from the Central Bank of Nigeria (CBN) is for the completion of the Tiga and Challawa hydroelectric power project.
Kano State House of Assembly has approved Governor Abba Kabir-Yusufโs 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.
The approval followed the adoption of a motion by the Leader of the House, Lawan Hussaini (NNPP-Dala) at plenary.
Presenting the motion, Mr Hussaini said that the loan has a single-digit interest rate and is therefore not harmful to the economy of the state.
He said that the project, when completed, would help revive ailing industries in the state.
The Tiga Independent Power Plant project was initiated by the administration of former Governor Rabiโu Kwankwaso to generate 35 MW using Challawa and Tiga dams.
Governor Abdullahi Ganduje, who came into power in 2015, continued with the project.
Mr Kabir-Yusuf had sent a letter of request to the house seeking its approval, which was read by the Speaker, Ismail Falgore, at plenary.
The governor said the loan would be used for the completion of the project aimed at boosting the economy of the state through reviving industries, irrigation farming, and powering street lights around the city.
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