Kano Assembly Greenlights Governor Yusuf’s N4 Billion CBN Loan Request

The Kano State House of Assembly has given its approval for Governor Abba Kabir Yusuf’s request to secure a N4 billion loan from the Central Bank of Nigeria (CBN) to complete the Tiga Independent Power Plant project. This decision was reached during a plenary session after the Leader of the House, Lawan Hussaini (NNPP- Dala), presented a motion endorsing the governor’s loan request. This development was reported by the News Agency of Nigeria.

In his presentation, Lawan Hussaini explained that the loan, characterized by a single-digit interest rate, is poised to have a positive impact on Kano State’s economy. Furthermore, he emphasized the potential of the hydroelectric power plant project to rejuvenate struggling industries within the state upon its completion.

Governor Abba Kabir Yusuf had previously submitted a formal request to the Kano State House of Assembly, seeking approval for a N4 billion loan designated for the Tiga Independent Power Plant project’s completion. He underscored the importance of this soft loan, which is intended to facilitate the hydroelectric project’s finalization and, in turn, stimulate the state’s economy. The project is expected to have far-reaching effects, including the revitalization of industries, support for irrigation farming, and the provision of electricity for streetlights throughout the city.

The Tiga Independent Power Plant Project was originally initiated during the tenure of the former Governor, Rabi’u Kwankwaso. Its primary objective is to generate 35MW of electricity, harnessing the potential of both the Challawa and Tiga dams. Subsequent administrations, including that of Governor Abdullahi Ganduje, have continued to prioritize and support the project’s completion.

This move by the Kano State House of Assembly, in approving the governor’s loan request, demonstrates a commitment to the development of vital infrastructure projects within the state. The Tiga Independent Power Plant project is a strategic endeavor that not only promises to provide reliable electricity but also holds the potential to revitalize local industries and promote economic growth.

As the Tiga Independent Power Plant project progresses with the financial support of the CBN loan, it is expected to significantly impact Kano State’s economic landscape. The injection of funds for the project aligns with the state’s vision for sustainable development, job creation, and improved living standards for its residents. It is a clear demonstration of the government’s dedication to advancing the state’s infrastructure and ensuring a brighter future for its citizens.

The Tiga Independent Power Plant, designed to harness the hydroelectric potential of the Challawa and Tiga dams, will undoubtedly contribute to addressing the electricity needs of the state, provide a boost to industries, and create opportunities for agricultural development. This multifaceted approach to development is aimed at fostering economic prosperity, infrastructure advancement, and enhanced living conditions for the people of Kano.

As the Tiga Independent Power Plant project nears completion with the support of the CBN loan, it is expected to fulfill the vision of becoming a pivotal asset for Kano State’s continued growth and development. The state’s investment in this project reflects its commitment to providing essential services, generating employment opportunities, and improving the overall quality of life for its residents.

In conclusion, the approval of the N4 billion loan for the Tiga Independent Power Plant project is a testament to the commitment of the Kano State Government and the Kano State House of Assembly to prioritize the development of critical infrastructure projects. The economic, social, and industrial benefits that will result from the completion of this project are poised to positively impact the state’s residents and contribute to its overall progress.