'Kwara has N200b infrastructure deficit'
Kwara State government has put its infrastructure deficit at N200 billion.
Bent on bridging the gap, the government is preparing to obtain N20 billion bond for projects.
The House of Assembly has given the government the go-ahead to access another bond from the capital market.
It said it had paid off the N17 billion bond obtained in 2009 for infrastructural development.
In a statement, the Senior Special Assistant to Governor Abdulfatah Ahmed on Media and Communications, Dr. Muyideen Akorede, said the bond was paid on August 5 last year, following payment to subscribers throughout the bond's five-year tenure.
The government said repayment of the N17 billion bond, which was obtained by the Bukola Saraki administration, did not impose any burden on the state's finances, as the bond maintained an issue rating of A and issuer rating of BBB - which signified the superior credit profile of the government.
Akorede listed the N17 billion bond projects as Kwara State University, Harmony Advanced Diagnostic Centre, International Aviation College, remodelling of Ilorin Stadium Complex, phase one of Ilorin Water Reticulation Project, Ilorin Cargo Terminal, as well as urban and rural road and electrification projects.
Stressing that long term borrowing, such as bond was cheaper and a more reliable means of funding major capital projects, the government said the proposed N20 billion would finance innovative projects, such as the dualisation of Michael Imoudu to Gamo Road, part completion of Kishi Kaiama Road, indoor sports hall of the Ilorin Stadium and the new campuses of Kwara State University at Osi and Ilesha.
Other proposed projects are secondary school classrooms across the state, equipment for the International Vocational Centre, Ajase Ipo, remodelling of the General Hospital, Oro, as well as cottage hospitals, the state's counterpart funding for an industrial park, which will generate 3,000 jobs, provision of transformers and take-off of contributory pension scheme, which is a precondition for accessing other infrastructure funds.
Dr. Akorede noted that the proposed bond was a necessity, given the challenges in the national economy and a huge drop in monthly allocation, which had limited government's ability to fund infrastructure.
The media aide assured the public that the Ahmed administration had taken steps not only to ensure that the government could afford the bond repayments without any pressure on its finances, but also that it had reformed its revenue machinery to boost government's capacity to meet its other obligations to the people.
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Elewu Idiagbon Mamatu Abdullahi Societe Generale Bank Of Nigeria Ahmed Saidu Rufai Muhammad Mustapha Suleiman Yahaya Muhammad Kayode Alabi ENetSuD Elerin Of Erin-Ile C2c@kwarastate.gov.ng Bolaji Abdullahi Kwara-SAPZ Project Sa\'adu Salau Erubu Ilorin Emirate Stakeholders Forum Afolayan Ayo Salami Abdulganiyu AbdulAzeez Ibrahim Mohammed Ademola Kiyesola Modupe Oluwole Suleiman Rotimi Iliasu Al-Ilory Abdulkadir Remi Hawawu Saliu Ajibola Ajia IPSAS Saliu Ajia Ishak Mohammed Sabi Joseph Daudu Mope Dasuki Belgore Haruna Olawale Sulaiman Ishola Balogun Fulani Ojuekun Taofik Abiodun Ahmed Taofeeq Olateju Femi Oladiji Suraj Tunji Oyewale Folajimi Aleshinloye Ladi Hassan Ejidongari Igbaja Tunde Mukaila Mustapha TESCOM 2025 Adolescent Girls Initiative For Learning And Empowerment Dorcas Afeniforo Shonga Cornelius Adebayo Jaiz Bank Yakubu Dogara Obuh Onilupeju Of Ilupeju CACOVID Bukola Saraki Ebola NITDA Hassan Saliu Abdulhakeem Adelaja Amao Aso Ofi Haleeman Salman Kassim Babamale Omoniyi M. Ayinla Omupo Kolawole Akande Afolasade Opeyemi Kemi Village Alive Development Association Toyin Falola Funmilayo Oniwa Aliyu Muhammed Government High School Adeta Tunde Idiagbon Road Saliu Tunde Bello Woro Muyiwa Oladipo Kanu Balogun-Ojomu Colleges Of Education Academic Staff Union Talaka Parapo

