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.
Sidikat Akaje Ilorin South Constituency Alagbado Rafiu Ibrahim Bolakale Ayo Kwha.gov.ng Muhammad Ghali Alaaya Facebook RTEAN Ayo Adeyemi Ilorin East/South Federal Constituency Abubakar Kawu Baraje Yahaya Jibril Usman Abiodun Oyedepo Fatima Abolore Jimoh Shagari Peter Amogbonjaye Leke Ogungbe Ahman Pategi University Shuaibu Yaman Adeola Abraham Yusuf Abdulwahab Ramadan National Pilot Binta Sulyman Ibraheem Adeola Katibi Forgo Battery Company Limited Niyi Osundare Ghali Muhammed Abdulrazaq Aiyelabegan Surajudeen Akanbi Bank Of Industry Kale Ayo Coalition Of Kwara North Groups Sa\'ad Alanamu Nigeria Foundation For Artificial Intelligence Centre For Peace And Strategic Studies Igbomina Bola Magaji Olateju Lukman Musbau A. Akanji Bayo Ojo Bayo Ajia Bayer AG Ganiyu Taofiq Kola Bukoye Abdulrasheed Lafia Public Holiday Woro Soffiyyallah Kamaldeen Oniye Congress For National Consensus National Broadcasting Commission Www.Kwarareports.com Quarry Royal Valley Matthew Okedare Sidikat Alaya Agboola Abdulraheem Olatunde Olukoya Radio Kwara Makama Of Ilorin Bamidele Aluko Esinrogunjo Ibrahim Abdullahi Abdulmumini Sanni Jawondo Afonja JMK Construction Company Limited Code Of Conduct Tribunal Agbarigidoma Logun Harrison Osauwagboe Saad Omo\'ya Emir Of Yashikira Rebecca Bake Oju Ekun Sarumi Ilorin Innovation Hub Valsolar

