The Jigawa State government is buying a 10 per cent stake worth N1 billion in the Kano Electricity Distribution Company, KEDCO.
The Commissioner for Information, Youths, Sports and Culture, Mr Sagir Musa disclosed in Dutse on Tuesday that the State Executive Council has approved the release of the fund as part of effort to ensure stable power supply in the state.
Musa said the gesture was in fulfillment of the Memorandum of Understanding signed between the state government and the company, to acquire 500,000 units of the KEDCO shares from Future Energy Africa Limited, the core investors of KEDCO.
This, he said, would enable the state government to consolidate its 7.5 per cent shareholding to 10 per cent in the company.
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“Similarly, the MoU is aimed at ensuring adequate provision of constant electricity supply to all Tier 1 urban centers and rural electrification in the state by the year 2028,” he said.
He said the council also approved N595 million contract for the supply and installation of solar powered street lights for semi-urban towns by the Ministry of Power and Energy.
In another development, the state government has earmarked N413 million for the procurement of 50 motorcycles and four vehicles for security agencies in the state.
Musa said the State Executive Council approved the amount to facilitate procurement of four Toyota Hilux and 50 motorcycles, to enhance patrol and fight against crimes in the state.
Musa said the council also approved N304 million for the procurement of seven official and utility vehicles for the Ministry of Budget and Economic Planning, to ensure effective project monitoring and evaluation exercise by the ministry.
He said the SEC also approved the implementation of key recommendations of the Majia Petrol Tanker Explosion Investigation Committee, to avert future occurrences of such tragic incident in the state.
“The council has set up of a nine-member committee to further come out with an implementation plan for the short, medium and long-term modalities to be chaired by the Commissioner for Budget and Economic Planning”.
Crediblenewsng.com
