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.
Yusuf Lanre Badmas Kwara State Health Insurance Agency Turaki Of Ilorin Alfa Yahaya Road Waheed Ibrahim Babaloja-General Adesoye Sa\'ad Alanamu Mufutau Gbadamosi Esuwoye Mohammed Abduraheem Kubra Kazum Ilota Abdul-Rasheed Na\'Allah AbdulRasaq Abdulmajeed Alaro Kola Adesina Ishak Mohammed Sabi Bamikole Omishore Joseph Offorjama Azeez Bello Yusuf A. Usman A.G.F Abdulrasaq Abdulkadir Remi Hawawu Abdulrahman Iliasu Abdulrahman Abdulrazaq Sheriff Shagaya Alaro Tsado Manman Raliat Islamic Foundation Lai Mohammed Usman Alkali Baba Omoniyi Samuel Elizabeth Keatswa Dasuki Belgore Ajayi Okasanmi KWASEIC LEAH Charity Foundation Abdullahi Dasilva Yussuf Jaiz Bank Emmanuel Olatunji Adesoye Ilesha-Baruba Ijagbo Folorunsho Erubu Iyabo Adisa Ibiyeye Kisra SUBEB Sango-UITH Road Abdulfatah Ahmed Mohammed Kamaludeen Ope Saraki Prince Mahe Abdulkadir Saidu Kawu Garba Idris Ajia Olomu Of Omu-Aran Noah Yusuf NYSC Lafiagi Hijab International Aviation College Face Masks Mogaji Aare Hajj Salaudeen Oyewale Shehu Alimi Foundation For Peace And Development Wahab Agbaje Fatimoh Lawal Alabere Abubakar Atiku JAAC Salmon Babatunde Salmon Baboko Primary School Forgo Battery Company Limited KWIRS Ajikobi James Ayeni Oke Sunna Aishat Mohammed Lawal IYA ALFA NLA

