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.
Sabitiyu Grillo Dan Iya Doyin Group Onilupeju Of Ilupeju Abdulrazaq Aiyelabegan Ambassador Kayode Laro Oniwa Taofik Abiodun Ahmed Bamidele Adegoke Fatai Olodo Clara Nwachukwu Muhammad Sirajo Aliyu Saidu Isa Idi-Ape Albert Ogunsola Kayode Bankole Bamidele Aluko Mubarak Oladosu Abubakar Abdullahi Bata Segun Ogunsola Hijab Muhammed Danjuma Esinniobiwa Quareeb Suleiman Alege Kuranga Kwara State Government Quranic Recitation Competition Millennium Development Goals KWASIEC Ajayi Okasanmi Adamu Attah Olatunji Ayeni Halimat Yusuf Saka Onimago Freshvine Nigeria Limited Shuaib Jawondo Femi Gbajabiamila Samuel Adedoyin AbdulRaheem Ahmad Shayi KWTV NFAI Memunat Monsuma Borgu Owo Isowo Olatunde Oyeyiola Ajibola Saliu Ajia Funmilayo Isiaka Oniwa Razaq Atunwa Ilorin West KWASAA Undergraduate Bursary Sobi Hill Sobi FM Apata Ajele Secondary School Alaiye Yahaya Abdulkareem Babaita Muyiwa Oladipo Kanu Makama Of Kaiama Kwara State Geographic Information Service Nnazua COVID Abdullahi Adisa Akodudu Ilorin Water Reticulation Olaosebikan Igosun Agbarigidoma Face Masks Apaola Ajibike Katibi Isiaka Rafiu Mope Ahmad Ali Malete Umaru Saro Abiodun Abdulkareem Kola Ologbondiyan Ado Ibrahim Kwara Restoration Project Toyin Saraki

