Saturday, March 2, 2024

Sokoto Govt targets N65.7bn loan for projects 8th February 2020 in National

The Sokoto State Government on Saturday said it would procure N65.7 billion loan from internal financial sources to execute development projects.

The government said the loan would be used to fast-track agricultural development, housing, health, water resources, judiciary and service delivery.

Alhaji Mohammed Bello, the Special Adviser on Media to Gov. Aminu Tambuwal, disclosed this in a statement issued in Abuja.

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He said that the move was in line with its continuous effort to seek better ways of improving the lot of its citizens.

Bello said that the loan would be serviced in 36 months and would not be a liability to be inherited by its successor.

Commenting, Alhaji Isah Galadanchi, the state Commissioner for Information, said decision to take the loan was the outcome of the state executive council meeting at Government House, Sokoto, which was chaired by the governor.

A beakdown of what the loan indicated that N550 million would be spent on procuring 200 generators to provide portable drinking water in rural areas, while N140 million would be expended on the procurement of water resources implements.

Also, N4 billion would be accessed from the Central Bank of Nigeria agricultural loan facility as a counterpart funding in that regard.

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The sum of N10 billion would be sourced to finance the payment of contractors that would execute contracts awarded to them under the State Universal Basic Education Board (SUBEB),

Other projects include N3 billion for the procurement of fertiliser to be sold to farmers at subsidised rate and N5 billion to be sourced for the provision of healthcare facilities within the state.

Other developmental projects that would need loans to deliver them are the state housing project at Gidan Salanke, which needs N1.5 billion, and purchase of cars for judiciary staff at the cost of N320 million.

Others were the organisation and execution of the 2020 Hajj that would require about N1 billion. (NAN)

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