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.

Tinubu     Kwara State University Of Education     School Of Nursing     Sulyman Buhari     Aishatu Ahmed Gobir     Zulu Gambari     Abdulmumini AbdulRazaq     Yahaya Abdulkareem     Moshood Kashimawo Abiola     CUTI     Salman Suleiman     Awoye     Yakubu Dogara     Adanla-Irese     Mukhtar Shagaya     Saka Abimbola Isau     Moses Salami     Yusuf Babatunde Abdulwahab     Shettima     Mohammed Yahaya Barki     Charcoal     Abdulrasheed Na\'Allah     Bamikole Omishore     Abdullah Janet Amudat     Yeketi     Orisun Igbomina     Suleiman Mora Omar     Seed Technologies     Toyin Saraki     Adamu Atta     Folorunsho Erubu     Oba Sulaiman Asude     Dasuki Belgore     SGBN     Saliu Ajia     Abubakar Olusola Saraki     Ibrahim Mashood     Amasa     Kulende     Logun     Yusuf Abubakar     Bello Oyedepo     Alanamu     Mahe Abdulkadir     Dapo Teni Nig Enterprise     Ilorin Likeminds Foundation     Atiku     Saadu Gbogbo Iwe     Gurei     Nnazua     Adam Abdullahi Al-Ilory     Aliyu Muyideen     LABTOP     Kayode Ibrahim     Aisha Ahman-Pategi     Okin Biscuit     Firdaos Amasa     Belgore     Magaji Are     AbdulKareem Yusuf Danhawa     Barakat Community Secondary School     Kazeem Oladepo     Tunde Idiagbon Road     Abdulrosheed Okiki     Abdulkadir Akanbi-Oke     Muritala Olarewaju     Kwara Pdp     BIR     Nigerian Supreme Council For Islamic Affairs     Hamid Bobboyi     Olokoba Sulyman     SWAN     Hussein Oloyede     Dorcas Afeniforo     Abdulkadir Jimoh     KFA     Jimoh Akani    

Cloud Tag: What's trending

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

IESA     Tunde Yusuf     Sheikh Hamzat Yusuf Ariyibi     Facebook     Coalition Of Kwara North Groups     ER-KANG Mining     Muritala Awodun     Omotosho     Habeeb Abdullahi Al-Ilory     Yusuf Babatunde Abdulwahab     Agbarigidoma     Memunat Monsuma     Offa Poly     Mohammed Ibrahim     Fatimat Saliu     ITP     Col. Adedipe     Ariyo     Seed Technologies     Mustapha AbdulGaniyu     Onikijipa     Mahmud Durosinlohun Atiku     Suleman Abubakar     Segun Abifarin     Isin     Olaiya Zuberu     Sam Onile     Bilikis Oladimeji     Ajase-Ipo     Kishira     Ayinde Oki     Oluranti Idowu     Saka Balikis Kehinde     Savannah Centre For Diplomacy, Democracy And Development     Funmilayo Isiaka Oniwa     NTA Ilorin     Durbar Festival     Atunwa     Ayobami Seriki     Ilorin Muslim Community     Saka Saadu     Aso Ofi     Justina Oha     Yekeen Alabi     Victor Gbenga Yusuf     Bola Magaji     KWASSIP     Smart School     Arinola Fatimoh Lawal     Salman Suleiman     Young Progressives Party     Seni Saraki     Musa Alhassan Buge     Alabi Lawal     Odogun Olushola Gabriel     Oro Grammar School Old Students Association     Mopelola Abdulmaliq-Bashir     Kassim Babamale     Saliu Alamoyo     Yinka Aluko     Oloyede     Ubandawaki     Kulende-UITH     Special Adviser On Digital Innovation     Olatunde Olukoya     Danhawa     Garuba Alikinla Shittu     Alumni Association Of The Federal Polytechnic Offa     Ayobami Akanbi     Femtech     Lucky Omoluwa     Olusegun Adeniyi     FOMWAN     Ibrahim Mohammed     Olabanji Orilonishe     Omotoso Musa     Kolo