The Kano State House of Assembly has granted Governor Abba Kabir Yusuf’s request to get a N4 billion loan from the Central Bank of Nigeria (CBN) to complete the Tiga Independent Power Plant project.
The resolution for the approval of the governor’s loan request was followed by the adoption of a motion by Leader of the House, Lawan Hussaini (NNPP- Dala) at plenary, as reported by the News Agency of Nigeria.
While presenting the motion before the House, Hussaini explained that the loan has a single-digit interest which wouldn’t negatively impact the economy of Kano State.
Furthermore, he highlighted the potential of the hydroelectric power plant to revive ailing industries in the state when completed.
Earlier, Governor Kabir Yusuf sent a letter of request to the Kano State House of Assembly seeking approval of the N4 billion loan for the completion of the Tiga Independent Power Plant project.
The governor stressed that a soft loan intended for the completion of the hydroelectric project will boost the economy of the state through reviving industries, irrigation farming, and powering streetlights around the city.
The Tiga Independent Power Plant Project was initiated by the administration of the former Gov. Rabi’u Kwankwaso, to generate 35MW of electricity, using Challawa and Tiga dams.
Gov. Abdullahi Ganduje, who came after Kwankwaso, also continued with the project.