Ganduje Moves to Take N300Bn Loan from China
The Kano Unity Forum, headed by a former presidential candidate of the defunct National Republican Convention, Alhaji Bashir Tofa has petitioned President Muhammadu Buhari, the National Assembly, and the Federal Ministry of Finance, over moves by Governor Ganduje to take over N300 Billion loan from China.
The forum petitioned President Buhari following Ganduje’s desire to take a loan from China for the state’s light monorail project.
In detailed statement by Tofa, the group said “Kano Unity Forum would not give any self-serving politician the latitude to increase poverty and deprivation within the general public through ill-conceived public works.”
“A 1st phase of the project costing over N300 billion, or maybe even the N828 billion mentioned by others, coming mostly from a foreign loan is mind-boggling, to say the least. A rethink is not only needed but necessary.”
“It needs to be noted that a rail project is never a project to be put in haste as we observed that it is neither in the medium nor long term plans of the State Government.”
“If indeed the Chinese want to genuinely help with cheap loans, they should be requested to support critical sectors such as education, health, agriculture, power, science and technology, infrastructure, industry and water supply”, adding that “after all, the Chinese have become world leaders in these aspects of transformative development.”
“We shall not be deluded by the attractive idea of a good return from the investment. Rail project world over are known as highly capital intensive with a very negligible rate of return on investment. It’s more of a social welfare project, especially in less developed economies. “