The Jigawa government has approved N1 billion for the payment of 10 per cent stake in the Kano Electricity Distribution Company (KEDCO).

The Commissioner for Information, Youths, Sports and Culture, Sagir Musa,confirmed this in a statement in Dutse on Tuesday.

He said the State Executive Council approved the release of the fund as part of effort to ensure stable power supply.

Musa said the gesture was in fulfilment of the Memorandum of Under – standing, MoU, signed between the state government and the company, to acquire 500,000 units of the KEDCO shares from Future Energy Africa Limited, the core investors of KEDCO.

This, he said, would enable the state government to consolidate its 7.5 per cent shareholding to 10 per cent in the company.

“Similarly, the MoU is aimed at ensuring adequate provision of constant electricity supply to all Tier 1 urban centers and rural electrification in the state by the year 2028,” he said.