Kano Assembly agrees to Ganduje’s N20 billion loan request

By Simdi Gloria:-

Kano State House of Assembly has on Monday agreed to Governor Abdullahi Umar Ganduje’s request to access N20 billion Infrastructural facility loan from the Central Bank of Nigeria, CBN, and United Bank for Africa, UBA.

Ganduje wrote to the Assembly seeking approval to access the loan to revamp the state’s economy affected by the economic meltdown occasioned by the COVID-19 pandemic.

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

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.

However, the loan facility has an interest rate of 9 per cent payable over 10 years equivalent to 120 months.

 

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