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.

Ramadhan     Magaji Erubu     Hassan Taiye Salam     Wasiu Onidugbe     National Union Of Road Transport Workers     Senior Ibrahim Suleiman     Aliyu Olatunji Ajanaku     Women For Change And Development Initiative     Abdulrahman Abdullahi Kayode     Mumini Ishola Hanafi     Ajikobi     Fatai Olodo     Sulyman Buhari     HICA     Arandun     Oniwa     Abiodun Musa Aibinu     Falokun-Oja     Kwara State Polytechnic     Mohammed Khadijat Kubura     IQRA College     Kwara     Amoyo     David Oyerinola Adedunmoye     Olusegun Adeniyi     Habeeb Saidu     Khairat Gwadabe     Abdulwaheed Musa     Yahya Mohammed     Lawyers Unite Against Corruption     Alaaya     AbdulRahman Saad     Moremi High School     Kwara State Internal Revenue Service     Neuropsychiatric Hospital     Wakilin Mata Lafiagi     Ezekiel Yissa Benjamin     Borgu     Abubakar Lah     Lotus Bank     Ganiyu Taofiq     Micheal Imodu-Ganmo Road     UTME     FERMA     Elekoyangan     Moses Salami     Offa Grammer School     Ilorin     Mutawali Of Ilorin     Rafiu Olasile     ASKOMP     Olatunji Bamgbola     Bello John Olanrewaju     REO CAKES     Tsaragi-Share     Shaykh Luqman Jimoh     National Broadcasting Commission     Boko Haram     Al-Hikmah University     NTA Ilorin     Earlyon Technologies     Babaita     Aso-ofi     Gbemi Saraki     Moji Makanjuola     Omar Gambari     Mutawalle     Rebecca Olanrewaju     Atiku Abubakar     Saka Onimago     Jaigbade Alao     Ibrahim Kayode Adeyemi     Flights To Ilorin     Abdulquawiy Olododo     Aliyu Kora-Sabi     Kabir Shagaya     Salihu Jibril Garbi    

Cloud Tag: What's trending

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

Ademola Kiyesola     Eghe Igbinehi     Babaloja-General     Shoprite     Buhari     Borgu     Bamikole Omishore     Hassan Saliu     Binta Abubakar-Mora     Jimoh Saadudeen Muhammed     Salman Alada     Waziri Yakubu Gobir     Savannah Centre For Diplomacy, Democracy And Development     Al-Hikmah Radio     Timothy Olatunde Fadipe     Rafiu Ajakaye     Isiaq Khadeejah     ER-KANG Mining     Aminat Ahmed     Abdulkadir Orire     Ndama Al-hassan     Ilorin     Bursary     Olatunji Ayeni     Mohammed Kamaludeen     NITDA     Akande Idowu Ayoola Muhammed     Fatai Garuba Labaka     Public Holiday     Na\'Allah     Kale Bayero     Oloruntoyosi Thomas     Muritala Olarewaju     Abdulfatai Baakini     Hakeem Idris     Nigerian Army     Jebba     Rabiu Kwankwaso     Sheikh Ariyibi     International Public Sector Accounting Standards     Ojo Isekuse     Makama Of Ilorin     Abdulmalik Bashir Mopelola Risikatullahi     Seed Technologies     Paul Odama     Erubu     KWSUED     Muslim Stakeholders Of Kwara State     Yahaya Seriki     Hussein Oloyede     ASKOMP     Ile Arugbo     Ashiru     Ishaq Oloyede     Salmon Babatunde Salmon     General Hospital, Offa     Mutawali Of Ilorin     Saadatu Modibbo-Kawu     Kunle Okeowo     Rex Olawoye     Afonja     Ibrahim Labaika     Hussein Olokooba     AIT Ilorin     Fatai Olodo     Olofa Of Offa     Igbomina     Ilorin East/South Federal Constituency     Yakub Lai Gobir     Ajeigbe     Mohammed Lawal Bagega     Minimum Wage     Logun     Oke-Ogun     Elerinjare-Ibobo     Ayo Adeyemi     Jide Ashonibare