Katsina State House of Assembly granted approval to the state government to secure N2 billion loan from the Central Bank Of Nigeria (CBN) for small and medium enterprises (SME) because it was convinced that the loan is in the best interest of the state.
Speaking to newsmen, the Assembly speaker, Hon. Sabiu Aliyu Muduru said the assembly conducted in-depth investigation on the propriety or otherwise of accessing the loan before granting the approval.
“From our findings and based on our understanding, the loan is in the best interest of the good people of Katsina State as it will be used to develop small and medium enterprises so as to alleviate poverty in the state.”
“Before arriving at the decision to give the approval, we met with the people of our respective constituencies to seek their views. The people accepted and said the loan is a welcomed development,” he added.
Speaker Muduru said the assembly had listened to briefings from both officials of the state government and those of the CBN who appeared before it to clarify issues concerning the loan “and we are convinced that it is worth taking.”
He said the Assembly has however urged the state government to make the loan interest free so that beneficiaries would pay back only the principal sum recieved adding that with effective disbursement, the loan would reduce poverty in the state.
It would be recalled that the state Assembly gave approval for the loan from CBN for development of micro, small and medium enterprises in the state.
The Assembly members who spoke at the floor of the house including Deputy speaker, Shehu Dalhatu Tafoki, supported the motion and enjoined their colleaques to grant an express approval. They expressed optimism that accessing the loan and ensuring its judicious use will assist greatly in alleviating poverty in the state.
Source:Leadership
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