N3trn LOAN: Ganduje Fires Back at Kwankwaso

0
N3trn LOAN, Ganduje Fires Back, Kwankwaso
Kano State governor, Abdullahi Umar Ganduje (right) and his predecessor, Rabiu Musa Kwankwaso

Kano state government has reacted to the position of the former governor of the state Rabiu Musa Kwankwaso, who on Monday condemned the plan by the government to obtain €684,100,100 (about N3trn) loan facility from the China Development Bank.

The state government said it would proceed to obtain the loan, not minding the position of Kwankwaso and his group, explaining that the loan was meant for the construction of light rail transit project in the metropolis.

State commissioner for information, Muhammad Garba, explained in a press statement that his government would not pander to any criticism by anyone, claiming that the project would transform Kano to a Mega City.

Kwankwaso’s group said on Monday, through its spokesman, Aminu Abdulsalam, that it has written to the National Assembly to reject the Ganduje administration’s loan request, adding that it has also requested the Debt Management Office (DMO) to save the state from being plunged into more debts by the proposed loan.

He claimed that there were a lot of procedural violations associated with the proposed loan, saying it was ill-conceived and ill-timed.

According to him, “It is disheartening and disappointing to note that with the current exchange rate regime, the rising poverty level and the devastating impact of COVID-19 Pandemic, Kano State Government has concluded plans to mortgage the future of the present and incoming generations, by committing them into a perpetual debt at the expense of their Education, Health and other social safety net investment.”

He also claimed that “the repayment period for the proposed loan could take up to 50 years or more.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here