Kano State House of Assembly on Monday approved a request by Governor Abdullahi Umar Ganduje to access N20 billion Infrastructural facility loan from the Central Bank of Nigeria, CBN and United Bank for Africa, UBA.

 Ganduje had written to the Assembly seeking for approval to access the loan to refurbish the state’s economy which has been affected by the economic meltdown occasioned by the COVID-19 pandemic.

The letter from the governor was read by Speaker; Abdulazeez Garba-Gafasa while presiding over the assembly’s plenary session and the lawmakers after series of deliberations unanimously agreed and approved the request.

The Majority leader of the assembly, Kabiru Hassan-Dashi , explaining the loan facility further said the loan was to cover up the economic meltdown occasioned by the COVID-19 pandemic in the state.

 Hassan-Dashi added that the assembly considered the governor’s request after having challenges to access it from the capital market due to worsening economic conditions.

It was gathered that the loan facility has an interest rate of 9 per cent payable over 10 years equivalent to 120 months.