Kano Assembly Okays Ganduje’s ₦20bn Loan Request

Kano State House of Assembly on Monday agreed to the request of Governor Abdullahi Umar Ganduje to access ₦20 billion Infrastructural facility loan from the Central Bank of Nigeria, CBN and United Bank for Africa, UBA.

Eko Hot Blog understands that the governor had written to the Assembly seeking for approval to access the loan to revamp the state’s economy adversely affected by the economic meltdown.

The Speaker, Abdulazeez Garba-Gafasa while presiding over the assembly’s plenary session read the letter from the Governor and the lawmakers after series of deliberations unanimously agreed and approved the request.

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Shedding more lights on the loan facility, the Majority leader of the assembly, Kabiru Hassan-Dashi said the loan was to cover up the economic meltdown occasioned by the COVID-19 pandemic in the state.

Hassan-Dashi added that the assembly considered the governor’s request after having challenges to access it from the capital market due to worsening economic conditions.

It was gathered that the loan facility has an interest rate of 9 per cent payable over 10 years equivalent to 120 months.

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