The Jigawa State Government has approved the disbursement of N1 billion as the third tranche payment for its 25 per cent equity stake in the Kano Electricity Distribution Company (KEDCO).
This was disclosed by Dr. Nura Ibrahim Kazaure, the Commissioner for Environment and Climate Change, while briefing newsmen in Dutse, the Jigawa State capital.
He said the disbursement represents the third tranche payment under the investment agreement between the Jigawa State Government and KEDCO.
According to him, the payment covers the outstanding balance for the 25 per cent equity stake acquired by the state government in the company, in line with the Memorandum of Understanding (MoU) duly executed by both parties.
The commissioner stated that the approval underscores the state government's strong commitment to strengthening its strategic investment in the power sector, with the aim of improving electricity supply, enhancing service delivery, and stimulating socio-economic development across the state.
He further emphasised that the investment aligns with the state's broader development agenda, particularly in the areas of infrastructure expansion, economic diversification, and public-private partnership initiatives designed to foster sustainable growth.
Kazaure added that the Jigawa State Government remains committed to prudent financial management and strategic investments that deliver tangible benefits to the people of the state.
