Kwara dumps plan for N20bn bond

Date: 2016-05-31

The Kwara State Governor, Abdulfatah Ahmed, said on Monday that the state government had decided not to go ahead to take a N20bn bond from the capital market because of the consistent reduction in the federal revenue allocation to the state.

He said the government had last year, while deciding to access the bond, premised its repayment capacity on the federal revenue allocation and internally generated revenue.

The governor said with the drop in federal revenue allocation and the fact that the Kwara State Internal Revenue Service had just been restructured, the state would not have the financial capacity to repay the bond as and when due.

According to him, the government is considering other funding options such as the money market, development finance institutions and buying credit systems.

Ahmed said his administration might ultimately go for credit systems to fund some planned projects.

The projects, according to him, are the under-pass in Geri Alimi, Ilorin; and the development of the two campuses of the Kwara State University at Ilesha-Baruba and Osi so that students for the College of Agriculture and Environment Studies will commence studies there before the expiration of his tenure.

He added that the government planned to extend the dual carriage to the University of llorin Teaching Hospital to save more lives; expand the Ganmo road.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Dankaka     AbdulHamid Adi     Laduba     School Of Nursing     PharmAccess Foundation     Abdulrasheed Lafia     Salaudeen Oyewale     Oniyangi Kunle Sulaiman     Amasa     Abdulganiy Abimbola Abdussalam     Salman Alada     Nigerian Army     Habeeb Abdullahi Al-Ilory     AbdulRazaq Abubakar Jiddah     Col. Adedipe     Abikan     Balikis Jawondo     Abatemi Usman     Ahmed Saidu Rufai     Ayoade Akinnibosun     Isiaka Gold     Saliu Ajibola Ajia     Kwarareports     Baba Idris     Musa Ayinla Yeketi     Raliat Elelu-Habeeb     GANZY     Issa Oloruntogun     Tunji Arosanyin     Vishvas KOZ Tractors     Odogun Olushola Gabriel     Bola Olukoju     Asiwaju Bola Tinubu     Mahmud Durosinlohun Atiku     Smart School     Babaita     Saba Mamman Daniel     Tunji Oyawoye     Ahmed Mohammed Rifun     Abdulazeez Arowona     Simeon Sule Ajibola     KWASEIC     Ganmo Electricity Sub-Station     Yusuf Amuda Gobir     AGM Professional Services     AGF Abdulrazaq     Abubakar Ndakene     Ojo Fadumila     Al-Ilory     Bolaji Aladie     Ita-Nmo Market     Kayode Oyin-Zubair     Siddiq Adebayo Idowu Salawu     Shehu Adaramaja     Alabe     John Kehinde Salako     Ilorin Like-Minds     Baakini     Tunji Ajanaku     Idris Amosa Saidu     KwaraLearn     Kwara Politics     Kwara State Printing And Publishing Corporation     Yahaya Dumoye     Gbemisola Oguntimehin     Hassan Oyeleke     Segun Olawoyin     Abdulfatah Ahmed     Musa Aibinu     Trade Lenda SME Fair     Igbaja     Saka Adeyemo     Yahaya Jibril Usman     Bilikisu Oniyangi     Alao Ayotunde     Yakubu Shaaba     Toyin Saraki    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Alore     College Of Health     Mahee Abdulkadir     Tosin Saraki     Maimunat Oniyangi     Adamu Jemilat-Baki     Orire     Oladipo Akanmu Tolani     Olusegun Adeniyi     Otoge     Saliu Ajia     Basic Education Certificate Examination     Kwara State Pension Board     Universal Basic Education Commission     Bankole Omisore     Haliru Dantoro     Maigidasanma     Kwara Central     Michael Ologundea     Muhammad Sirajo Aliyu     Obuh     Samuel Adedoyin     Bayer AG     Vasolar Consortium     Timothy Akangbe     Kayode Bankole     Quran     JAAC     KW-GIS     Olabode George Towoju     Halimat Yusuf     Abdulrahman Abdulrasaq     Nagode     Doyin Agbamu     Niyi Osundare     Ogidi-Oloje     Chief Imam Of Offa     Justina Oha     Adegoke Bamidele     Ilesha-Baruba     Bamidele Adegoke     Nigerian Supreme Council For Islamic Affairs     Sebastine Obasi     Abdulhakeem Adelaja Amao     KWSUED     Saadatu Modibbo-Kawu     Ubandoma     Kwara 2019     Government High School (GHS), Adeta     Vasolar Consultoria     Saadu Yusuf     LABTOP     Haleeman Salman     Mogaji Aare     Halidu Danbaba     Oba Sulaiman Asude     Mumeen Lah     Omotoso     Abdulganiy Abimbola Abdussalam     Adebayo Mohammed Kamaldeen     Suleiman Mora Omar     Bureau Of Lands     Suleiman Yahya Alapansapa     Tunde Yusuf     National Democratic Congress     Jimoh Akani     Yakubu Gobir     Tunde Akanbi     Salman Jawondo     Sulyman Tejidini     Awwal Jawondo     Agboola Abdulraheem     Sobi Hill     International Vocational Centre     Muhammed Abdullahi     Imodoye Writer’s Enclave     Ganmo Electricity Sub-Station