Kwara dumps plan for N20bn bond
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.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Abdulrahman Abdullahi Kayode Tuesday Assayomo Dele Momodu Admiralty Villa Jumoke F. Ajao PharmAccess Foundation Gambari Lawal Jimoh Ilorin Descendants Progressive Union Yunus Lawal Isiaka Danmeromu Kwara State Pension Board Aminu Adisa Logun Abdulrauf Yusuf Timothy Olatunde Fadipe Alaaya Muhammad Yahya New Model Police Station Popo-Igbonna Mujtabah Bature Ubandoma REO CAKES Muhammed Danjuma Alfa Modibbo Belgore Makama Of Ilorin Clement Yomi Adeboye Isiaka Oniwa Joseph Offorjama Bibire Ajape Innocent Okoye Chartered Institute Of Personnel Management Of Nigeria Moro Tunde Oyawoye Kwha.gov.ng Abdullahi Samari Yusuf Olaolu Ali Ayoade Akinnibosun Salake Kwara Liberation Group Oba Abdulrahim Michael Nzekwe Seed Technologies Olatunji Moronfoye Assayomo Afolabi-Oshatimehin Adenike Harriet Countryside Emerging Leaders Fellowship Kupchi Hosea Maxwell Nnazua Senior Staff Union Of Colleges Of Education Ganmo Electricity Sub-Station Ajeigbe James Kolo Coalition Of Kwara North Groups Mahmud Babatunde Baker Ariyo Magaji Erubu Ahmed Saidu Rufai Patigi Regatta Galadima Agbarere Sherif Shagaya Onilorin Mogaji Aare Hassanat Bello Saadu Yusuf GANZY Oba-Solagberu Olabode Towoju Elerin Of Erin-Ile LABTOP Olatunde Michaels Baba Adini Of Kwara State Smart School Moshood Bakare John Mayokun Dada Shururat Olatinwo Salihu Ajibola Ajia

