Jigawa State Invests N1bn in KEDCO for Power Equity

Jigawa State has made a payment of N1 billion to Kano Electricity Distribution Company (KEDCO) as part of a third tranche payment under an investment agreement. This payment covers the outstanding balance for a 25% equity stake that the Jigawa State Government is acquiring in KEDCO, as outlined in a memorandum of understanding (MOU).

Dr. Nura Ibrahim Kazaur, who is associated with the commission on environmental climate change, disclosed this information during a briefing with newsmen in Dutsinma, Jigawa State capital. The state government emphasizes its strong commitment to strengthening its strategic investments in the power sector, aiming to improve electricity supply and enhance service delivery.

This initiative is designed to stimulate socio-economic development across the state and aligns with the broader development agenda, particularly in infrastructure expansion and economic diversification through public-private partnerships. Kazaur reiterated the government's commitment to prudent financial management strategies to ensure tangible benefits for the people of Jigawa State.