SOKOTO State government has announced plans to secure a N65.7bn ($180m) loan to enable it fund different projects including purchasing cars and paying for the annual Hajj pilgrimage to Saudi Arabia for Muslims.
According to Isah Galadanchi, the Sokoto State information commissioner, a total of N1bn ($2.73m) would be used to sponsor Muslims on the annual pilgrimage to Saudi Arabia. Of the sum, N320m would be used to purchase cars for judiciary staff, N550m would be spent on procuring 200 generators to provide potable drinking water in rural areas, while N140m would be expended on the procurement of water resources implements.
This loan, which would be serviced over a 36 month period, would also be used to also facilitate education and health projects. In addition, N4bn would be accessed from the Central Bank of Nigeria agricultural loan facility as counterpart funding, while N10bn would be sourced to finance the payment of contractors that would execute contracts under the State Universal Basic Education Board.
Other loans the Sokoto State government has in mind include borrowing N3bn for the procurement of fertiliser to be sold to farmers at subsidised rates and N5bn to be sourced for the provision of healthcare facilities within the state. Other developmental projects that would need loans to deliver them include the state housing project at Gidan Salanke, which needs N1.5bn.