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.
Nigeria Association Of Women Journalists Yemi Sanni Shettima Suleman Abubakar Olatunji Ayeni Kawu Yusuf Ibitokun Sherifat Firdaos Amasa Fatimah Abdulkadir Sabitiyu Grillo Omar Bolaji Gambari Bature Bello Raliat Islamic Foundation Afeyin-Olukuta Sidikat Alaya Haashim Initiative For Community Advancement JSSCE Abdulraheem Yusuf Kumbi Titiloye Babaita Joseph Bamigboye Dogara Adama Isa Ibrahim Abdulqadir Abikan EFCC Lola Olabayo Ilorin Likeminds Foundation Kayode Ogunlowo Aminat Ahmed Okin High School Niyi Osundare Osinbajo Kabir Shagaya Aliyu Adebayo Segun Olawoyin MAI Akande Ibrahim Taiwo Road Baboko Oba-Solagberu Freshvine Nigeria Limited Al-Ilory Tunji Folami Chief Imam Of Ilorin Kwara State Polytechnic Haruna Olawale Sulaiman Isiaka Saka Opobiyi Mohammed Halidu Afonja Descendants Union Abiodun Jacob Ajiboye Tunde Oyawoye Ebola Al-Hikmah University Tosho Yaqub Ayo Adeyemi PharmAccess Foundation Maigida Soludero Transit Muyideen Ajani Bello Aremu Odolaye Hakeem Lawal John Obuh Logun Saraki Abubakar Lah John Dara NITDA Olajumoke Monsura Gafar Code Of Conduct Yusuf A. Usman Isau Yahaya Oloriegbe Yomi Ogunsola Dele Belgore Amos Sayo Jumoke F. Ajao Oloriegbe Ajibike Katibi N-Power

