A N15bn loan request by Governor Abdullahi Umar Ganduje of Kano State to the State House of Assembly has been approved by the lawmakers.
The lawmakers gave the approval on Wednesday after the receipt of a report by the House Committee on Local Governments headed by Deputy Majority leader, Alhaji Kabiru Hassan-Dashi on the governor’s request.
Governor Ganduje had earlier sent a letter to the State legislators seeking their approval to allow the 44 local government areas of the state to access the loan from the bank.
In his letter, the Governor explained that the fund would be used to construct more classes and rehabilitate some others in a bid to decongest the schools.
He added that each of the 44 local government areas will receive N340 million if approved.
The payment condition for the loan will be 30 months with an interest of 15 percent only. More so, in repaying the loan, it will be deducted from the local governments’ monthly Federal allocations.
Hassan-Dashi further explained that the loan will also support the provision of free uniforms for the students and also enhance the school feeding initiative by the state government.
The committee recommended the approval of the request while presenting its report to the House on Wednesday.
After deliberations by the legislators, the Assembly adopted the motion and approved the request.
Source: Naija News