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.

Olumide Daniel Ibitoye     Women Radio     Otoge     Baakini     Abatemi-Usman     Azeez Bello     Tayo Alao     AGF Abdulrazaq     Oro Grammar School     KWASAA     Kola Bukoye     Jebba     Nigeria Association Of Women Journalists     Col. Taiwo     2023 Elections     C2c@kwarastate.gov.ng     Maigida Soludero Transit     Ike Ekweremadu     Olushola Saraki     Muritala Olarewaju     Sola Saraki Educational Foundation     Baba Adini Of Kwara State     Ayobami Seriki     Abraysports FC     Maryam Nurudeen     PharmAccess Foundation     Durbar     Surajudeen Akanbi     Risikat Lawal     Aliyu Umar     Idowu Laro     Valsolar-Kwara Company Limited     JUSUN     Olatunji Ayeni     Segun Olawoyin     Aliyu Sabi     Abiodun Musa Aibinu     Usman Rifun     MalHub     Salake     Rebecca Bake     Offa     Raji AbdulRasaq     Elewu     Abdulraheem Yusuf     Abdulbaqi Jimoh     Mohammed Halidu     Ola Falade     Saheed Popoola     Suleiman Mora Omar     Ajeigbe     Kola Ologbondiyan     Student Learning Support Helpline     Deji Ajani     Yemi Sanni     Idowu Aremu     Metro Park     Olayinka Oladapo Jogunola     Shuaibu Yaman Abdullahi     Bello Oyebanji     Quareeb     Amuda Bembe     Adebara     IPSAS     Dar-Al-Handasah Consultants Ltd     Michael Ologundea     Guber Aspirant     Wakilin Mata Lafiagi     Nigerian Supreme Council For Islamic Affairs     Salihu S. Yaru     Abubakar Olusola Saraki     Awili Pedro     Kwara 2023     Hajj     Seni Saraki     Abdulsalam Firdaous Amosa     CKNG    

Cloud Tag: What's trending

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

Bashirat Bola Bello     Modibo Kawu     Buari Edun     Ohoro Of Shao     Modibbo Kawu     CBT     Surajudeen Akanbi     Mufutau Olatinwo     Kola Shittu     IYA ALFA NLA     Saka Balikis Kehinde     Saidu Kawu     All Confederation Of Principals Of Secondary Schools     Kwara Consultative Forum     Abioye Bello     Abdulrazaq Akorede     Jebba     Sulyman Atolagbe Alege     Ahmad Lawan     Afonja Descendants Union     Abdulrauf Yusuf     Amos Sayo     C2c@kwarastate.gov.ng     Olatunde Jare     Issa Oloruntogun     Yakubu Dogara     Manzuma     Balikis Jawondo     Yusuf Abdulraheem     Democracy Day     Bolakale Kawu     Bukola Saraki     Peter Amogbonjaye     Halimat Yusuf     Haashim Initiative For Community Advancement     Abdulkadir Jimoh     Wahab Issa     Tunji Olawuyi     Salman Suleiman     College Of Education     Ahmed Bolaji Nagode     Sebastine Obasi     Bolaji Nagode     SDP     Idris Garuba     Suleiman Alege Kuranga     Sa\'adu Salahu     GANZY     Adama Isa     Saheed Alakoso     Belgore     Chief Of Staff     Olatunji Ayeni     Saad Belgore     Elekoyangan     Asa     Kassim Babamale     Dauda Adesola     Lanre Aremu     Elerin Of Adanla     All Peoples Party     Raimi Iyanda     Micheal Imodu-Ganmo Road     Y.A. Abdulkareem     Ayegbeni     Kola Bukoye     Owo Isowo     Musa Yeketi     AGM Professional Services     Ajibola Saliu Ajia     Suleiman Abubakar     Ado Bayero     Obasanjo     John Obuh     Lanre Issa Onilu     Zainab Abass     Yakubu Shaaba