Kano To Access N40bn Saudi Loan

The Kano state government said it has fulfilled all the relevant requirements and formalities in accessing over N40 billion loan from the Islamic Development Bank, (IDB) to invest in agricultural irrigation and other human development areas.

In an exclusive interview with our reporter, the state commissioner for finance, Professor Kabiru Dandago said Nigeria being the shareholder in the IDB which it’s primary responsibility was to assist businesses through their government, adding that northern governors are trying to benefit from the enormous resources available in the IDB.

“If possible Kano State government will acquire N40 billion loan from Saudi IDB to support agriculture and irrigation in particular, and electricity supply to revitalise industries for economic growth”, he revealed.

He added that another responsibility of the IDB was to assist in agriculture, power and water supply, saying though unfortunately the northern states have not been benefiting from the fund in the past, now they decided to access the fund since the country is the shareholder and partner to the IDB.

According to him the 19 northern governors have approached the bank to see the areas where the bank can assist their economy since the country has been paying it’s subscription regularly.

The post Kano To Access N40bn Saudi Loan appeared first on Nigerian News from Leadership News.

Daily Nigeria News © 2015 Quantcast