Jigawa govt invests N1bn in Kano Disco

The Jigawa authorities has permitted N1 billion for the fee of 10 per cent stake within the Kano Electricity Distribution Company (KEDCO).

The Commissioner for Information, Youths, Sports and Culture, Mr Sagir Musa, stated this in an announcement in Dutse on Tuesday.

He stated the State Executive Council permitted the discharge of the fund as a part of an effort to make sure a steady energy provide within the state.

Musa stated the gesture was in fulfilment of the Memorandum of Understanding (MoU) signed between the state authorities and the corporate, to amass 500,000 items of the KEDCO shares from Future Energy Africa Limited, the core investor of KEDCO.

This, he stated, would allow the state authorities to consolidate its 7.5 per cent shareholding to 10 per cent within the firm.

“Similarly, the MoU is aimed at ensuring adequate provision of constant electricity supply to all Tier 1 urban centres and rural electrification in the state by the year 2028,” he stated.

He stated the council additionally permitted N595 million contract for the provision and set up of solar-powered avenue lights for semi-urban cities by the Ministry of Power and Energy. (NAN)

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