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.

Abdulrazaq Akorede     Alaaya     Salihu Jibril Garbi     Oni Adebayo     Ramat Oganija     Yusuf Badmus     Kunle Akogun     Waziri Yakubu Gobir     Vasolar     Noah Yusuf     Simon Sayomi     Abdul-Rasheed Na\'Allah     Simeon Sayomi     Abdulwahab Oba     Kola Adesina     Lateef Fagbemi     Asiwaju Bola Tinubu     Abdulmajeed Wahab     Amasa     Road Transport Employers Association Of Nigeria     Ilorin International Airport     Oniye     CACOVID Palliatives     Rapheal Ashaolu     IESA     Abdulrasheed Akogun     Goodluck Jonathan     Mohammed Saidu     Kayode Oyin-Zubair     Christopher Tunji Ayeni     Diagnostic Centre     Kabir Shagaya     Siraj Oyewale     Bamidele Adegoke     Ibraheem Adeola Katibi     AbdulRahman Saad     Sulaiman Gado     Mike Omotosho     Ilorin South     Muslim Cementary     Toyin Abdullahi     JAMB     Agboola Abdulraheem     Wahab Femi Agbaje     Mohammed Khadijat Kubura     ENetSuD     Saka Isau     Towobola Abdulrahman Toyin     AbdulRazaq Jiddah     Bamikole Omishore     Sodiya     Sheriff Olanrewaju     Shuaib Olarongbe     Shagari     Suwa-Arabs     Olabode George Towoju     Ibrahim Kayode Adeyemi     Okin Malt     Ibrahim Abiodun     Oyelere Oyinloye     Sardauna Of Ilorin     Medview Airlines     A.G.F Abdulrasaq     Tunde Saad     Ibrahim Mashood     Dan Iya     David Oyepinola Adedumoye     Mohammed Alabi Lawal     Aishat Sulu-Gambari     Ahmed Saidu Rufai     Moro     Danladi     Muyideen Ajani Bello     Paul Odama     Nigerian Supreme Council For Islamic Affairs     Iponrin     Alliance For Democracy    

Cloud Tag: What's trending

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

Abdulrazaq Solihudeen     Ilorin     Yomi Adeboye     Agor     Abdulrazaq Sanni     Sulyman Atolagbe Alege     Lafia Aliyu Korasabi     Kumbi Titilope     Henry Makinwa     Suraj Tunji Oyewale     Elerinjare     PAACO-PCL Consortium     Trade Lenda SME Fair     Idris Amosa Saidu     Ajasse-Ipo     ER-KANG     Niyi Osundare     Malete     Countryside Emerging Leaders Fellowship     Alfa Belgore     Alfa Modibbo Belgore     Bello Taoheed Abubakar     Umar Ayinla Saro     Oniwa     Micheal Imoudu     Haashim Initiative For Community Advancement     Colleges Of Education Academic Staff Union     Shehu Salau     Special Agro-industrial Processing Zone     Ope Saraki     Yahaya Abdulkareem Babaita     Ibrahim Mohammed     Baba Adini Of Kwara State     Minister     Funmilayo Mohammed     Iyiola Oyedepo     First Lady     Savannah Centre For Diplomacy, Democracy And Development     Adamu Atta     Ahmed Mohammed Rifun     Tunji Oyawoye     Isiaka Oniwa     Saadatu Modibbo-Kawu     Bashir Adigun     COEASU     Zulkifli Ibraheem     National Union Of Road Transport Workers     LABTOP     Olokoba     Yemi Osinbajo     Minimum Wage     Raimi Iyanda     Oba Sulaiman Asude     Ayo Salami     Kayode Ishola     Transition Implementation Committee     John Kehinde Salako     Tope Daramola     Fatimoh Lawal     CCEPE     Temi Kolawole     Yakub Lai Gobir     GAMA     AbdulGafar Tosho     Alaaya     Mumeen Lah     Special Adviser On Digital Innovation     Aremu Odolaye     Olayinka Jelili Yusuf     Aishat Sulu-Gambari     Peculiar Allowance     Abdulrahman Abdulrazaq     Abdulrahman Onikijipa     Ashiru     Ali Ahmad     Asa     Issa Oloruntogun