Kano State government has concluded arrangement to borrow the sum N4 billion from Central Bank of Nigeria (CBN), for the completion of Tiga and Challawa Hydro-electric power projects.
The follows the approval of the request of Governor Abba Kabir-Yusuf by the State House of Assembly.
Presenting the motion, the Majority Leader of the House, Lawan Hussaini (NNPP- Dala), said that the loan has a single-digit interest 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 Plant project, according to sources, was initiated by the administration of the former Governor Rabi’u Musa Kwankwaso, to generate 35MW, using Challawa and Tiga dams.
Governor Abdullahi Ganduje who came into power in 2015, continued with the project.
The new governor, Kabir-Yusuf, had sent a letter of request to the house seeking for its approval which was read by the Speaker, Ismail Falgore at plenary.
The governor said that the soft 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.