The Kano State Government has released over N42m for payment of compensation to over 100 individuals in Kumbotso council area, whose farmlands were acquired for the proposed 10kw Solar Power Project by the Federal Government (FG).
The Managing Director of Kano State Investment and Properties Company Ltd. Dr. Jibrilla Muhammad disclosed this during the commencement of the compensation payment at the palace of the district head of the community in Kumbotso town.
Muhammed, who is the state government‘s contact person for the for the project, said meetings had been held with various stakeholders while a systematic, professional assessment of the farmlands was carried out to ensure no farm owner was short-changed.
“The take-off of this N4 billion project is tied to payment of compensation and now that the farmers have been paid, work will commence in earnest,” he said.
Funds for the project, Muhammed explained, were released to the Nigeria Sovereign Investment Authority, NSIA, who were appointed by the FG as the funds and project managers for the venture.
He explained further that the investment formula for the project is 80 percent FG, 15 percent Kano State Government while Kumbotso council area has 5 percent as its equity.
“I want to emphasize that the FG selected Kano for this project in view of the states’ importance as a commercial area and a promising industrial hub”, he maintained.
“The project will contribute immensely to stabilizing power supply which is a necessary ingredient for the prosperity of the Kumbotso Industrial layout”, Dr. Muhammed stated.
He appealed to people in the domain to cooperate maximally towards the success of the project, in view of its importance to socio-economic development.
In his remarks, the district head of Kumbotso, Danruwatan Kano, Alhaji Ahmad Ado Bayero, described the project as a welcome development which will fast-track development of the area and provide more jobs for able bodied youths.