Kano State Governor Abdullahi Ganduje has asked for the approval of the State House of Assembly to borrow N15billion from Guaranty Trust Bank in the name of the 44 local governments of the state to run his government’s free education policy.
The Speaker of the Assembly, Abdulazeez Garba-Gafasa, on Monday read at the plenary a letter from the governor seeking the house’s approval for the 44 local governments in the state to access the loan.
According to the letter, the loan will enable the local governments to implement the state government’s free and compulsory education policy.
He said if the loan is approved, each of the 44 local governments will receive N340 million to sustain the education policy across the state.
The Speaker while reading the letter explained that the loan would be paid within 30 months at 15 per cent interest.
Mr Garba-Gafasa added that, according to the letter, the loan will be deducted from the local governments’ monthly Federal allocations.
Shortly after reading the letter, the Speaker forwarded it to the house committee on local governments.
The committee is headed by the deputy majority leader of the house, Kabiru Hassan-Dashi.
The lawmakers gave the committee two days to present its report before the assembly.
Source: Premium Times