Zamfara govt to secure 1.5 billion Naira loan

Zamfara govt to secure 1.5 billion Naira loan

Zamfara State House of Assembly has approved the state government’s request to secure 1.5 billion Naira loan from Zenith Bank.

The loan is to fund the 2020 Universal Basic Education Board Counterpart Funding for the execution of 2020 projects in the state.

In a press statement by the Public Relations Officer, Mustapha Jafaru, the approval was given during the state Assembly’s plenary sitting on Thursday, in Gusau, the Zamfara State capital.

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The Majority Leader of the House, Honourable Faruk Dosara, drew the attention of his colleagues, under Matters of Public Importance, to urgently grant the state government’s request for the Universal Basic Education intervention projects, to enable it to commence in earnest.

The statement further says that Honourable Dosara revealed that the said amount represents 50 per cent counterpart fund for the whole projects, with 24 months repayment obligation.

The House also deliberated on two laws, which include the repealed Zamfara State Accelerated Cotton Development Agency to be replaced with the Directorate of Accelerated Cotton Development 2020, as well as a bill for a law to provide for the establishment and management of Zamfara State Directorate for Higher Education 2020, with all scaling through the first and second readings.

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