Jigawa assembly approves gov’s request to secure N18.7bn loan

The Jigawa State House of Assembly has approved the request of Governor Muhammadu Badaru Abubakar to secure N18.7 billion facility.  

The governor had sought the assembly’s approval in a letter addressed to the Speaker, Idris Kareka and read during plenary Monday by the Majority Leader, Habu Maigatari. 

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The governor stated, “I am pleased to inform the Honourable speaker that the state government is in receipt of a letter from the Federal Ministry of Finance, Budget and National Planning notifying us of the gracious approval of the president for bridging loan facility of about N656.112 billion available to 35 out of 36 states of the federation. 

“This facility is to help cushion the effect of the payment of existing federal government intervention facilities to the states of the federation and Jigawa State inclusive.” 

He said out of the N656.112 billion available to 35 states, Jigawa is to get 18.7 billion to be paid in 30 years with nine per cent interest annually on monthly repayment mode and a moratorium period of two years.