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.

Tunde Saad     COVID-19 Palliatives     Risikat Lawal     Baba Idris     Femi Oladiji     Wale Oladepo     Mohammed Yisa     Aliyu Umar     Abubakar Baba     AGF Abdulrazaq     Na\'Allah     Gamji Members Association     Yusuf Aiyedun     Doyin Group     Saidu Yaro Musa     Haruna Olawale Sulaiman     Amasa     Adekunle David Dunmade     Frootify     Abdulwahab Olarewaju Issa     Ekweremadu     CELF     Ramadan     Lithium Deposit     Kamoru Kadiri     Taofik Abiodun Ahmed     Afolasade Opeyemi Kemi     Belgore     Abdulbaqi Jimoh     Salihu S. Yaru     Ilorin East     Oke-Ero     Yusuf Abubakar     Kisra     Elelu     Kale Kawu     Sheikh Ariyibi     Abubakar Ndakene     Elerin Of Adanla Irese     Noah Yusuf     KFA     Yekeen Alabi     Yusuf Ibitokun Sherifat     Muritala Awodun     Omu Aran     Abdulmajeed Wahab     Ahmed Dankaya     Abdullahi Imam Abdullahi     Tafida     Lithium     Fatimoh Lawal     Mohammed Ibrahim     Aliyu Alhassan     Salman Suleiman     Taiwo Joseph     Bolakale Kawu     Afonja     Pakata Patriots     Muhammed Akanbi     Rueben Parejo     Aisha Ahman-Pategi     Yusuf Arowosaye     Ajase-Ipo     Overland     Kolo     Ndama Al-hassan     Amuda Bembe     Afolabi-Oshatimehin Adenike Harriet     Jimoh Bashir     State Bureau Of Internal Revenue     Jamila Bio Ibrahim     Halidu Danbaba     Jimoh Lambe Abdulkareem     First Lady     Jide Ashonibare     Atunwa     Sheriff Olanrewaju    

Cloud Tag: What's trending

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

Kwha.gov.ng     Oba Of Jebba     Gaa Olobi     Abdulkarim Adisa     Abdulrazaq Solihudeen     Abikan     Savannah Centre For Diplomacy, Democracy And Development     NIRSAL     Muhammed Abdullahi     Mohammed Abduraheem     Lanre Issa-Onilu     Zara Umar     Valsolar     Oyun     Muhammed Mahe Abdulkadir     NaAllah     Budo-Egba     Hydroelectric Power Producing Areas Development Commission     Adebayo Salami     Abdul Jimoh Mohammed     Samari     Oba David Oyerinola Adedunmoye     Sulu Babaita Isiaka     Abdulfatah Ahmed     Kola Bukoye     Moses Salami     Ita-Ore     Chief Imam Of Ilorin     Kwara Basketball Association     Sa\'adu Gambari     Yekeen Alabi     HICA     Borgu     Old Oyo     Agboola Babatunde     Ibrahim Orire     ARMTI     Saidu Kawu     KWASIEC     Sadiq Umar     Alfa Belgore     Dar-Al-Handasah Consultants     Popo-Igbonna     Akom Construction And Engineering Synergy Ltd     Jalala     Daud Adeshola     AbdulRazaq Abubakar Jiddah     Mustapha AbdulGaniyu     Oko-Erin     Ayinde Oyepitan     Bolakale Kawu     Mahmud Babatunde Baker     Waziri Yakubu Gobir     Ahmed Mohammed Rifun     April 11     SWAN     Kwara Hotel     Adanla-Irese     Oba Abdulrahim     Tsado Manman     Rihanat Ajia     Abdulrosheed Okiki     CCEPE     Kwara State Fish Farmers Association     Olaiya Victor Mobolaji     Shehu Alimi Foundation     Sunday Fagbemi     GANZY     IF-K     Yahaya Oloriegbe     Adesina Simon Sodiya     Basit Olatunji     Akorede     Abdulwahab Olarewaju Issa     Muhammad Akande Olarewaju Odunade     Oro Grammar School Old Students Association     Salihu Ajia