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.

Council Of The Wise     Muhammed Abdullahi     Kwara State Council Of Chiefs     Florence Saraki     Bureau Of Lands     High Court     Federal Polytechnic Offa     Ope Saraki     Akeem Lawal     Agor Market     Olatunde Oyeyiola     Abdulmajeed Abdullahi     Yeketi     Mohammed Ajia Ibrahim     Ekiti     Ali Ahmad     Oro Grammar School     Computer Based Test     Tsaragi     Salihu Alhaji Musa     Samuel Adaramola     UTME     AbdulGaniyu Kareem     Cornelius Adebayo     Adamu B. Yaqubu     Tunji Folami     TETFUND     Ayegbeni     Shoprite     Olupako Of Share     Abubakar Bature Sulu-Gambari     Offa     Muhammad Yahya     Lawyers Unite Against Corruption     Roseline Oni Aremu     Charles Ibitoye     Hajj     Funmi Salau     Okala Baba     Michael Nzwekwe     Kwara 2015     Ayeyemi Sulaiman     Forgo Battery Company Limited     Oba Mogaji Abdulkadir     Olatunde Olukoya     Olajumoke Monsura Gafar     Suleiman Ajadi     Chikanda     Isiaka Abdulrazak     Tunde Mukaila Mustapha     Just Event Online     Yetunde Balogun     NITDA     Abubakar Abdulraheem     Okanlawon Taiwo     Oyin-Zubair     Ijakadi     Monthly Sanitation     Abdulwahab Oba     Kwara State University Of Education     Yahya Mohammed     Oloruntoyosi Thomas     Naira Redesign     Oba Abdulrahim     Orire     Abdulahi Abubakar Bata     Minister     Salihu Ajibola Ajia     Gobir Organization Foundation     Olusin Of Ijara Isin     Mahmud Babatunde Baker     Oko     Folaranmi Aro     Muslim Stakeholders Of Kwara State     IHS     Kwara Volleyball Association     Apaokagi    

Cloud Tag: What's trending

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

Saka Balikis Kehinde     IFK     Eleyele     Abubakar Atiku     Olatunji Ibrahim     Jani Ibrahim     Adolescent Girls Initiative For Learning And Empowerment     Isiaka Rafiu Mope     Moses Salami     Kola Olota     Ayegbeni     Rashidi Yekini     Bello Abubakar     Rasheed Jimoh     Shonga Farm Project     Senior Staff Union Of Colleges Of Education     Azeez Bello     Women For Change And Development Initiative     Lucky Omoluwa     Matthew Okedare     Zaratu Umar     Elelu     Mubarak Oladosu     Umar Yakubu Jaja     MINILS     Baba Issa Awoye     Saka Keji     Fatai Olodo     Musa Abdullahi     Ajibike Katibi     Sobi Specialist Hospital     Busari Alabi Alausa     Law School Scholarship     Abdullahi Imam Abdullahi     NaAllah     Village Alive Development Association     Borgu     Salary     Volunteers Of Ilorin Community And The Emirate     Rihanat Ajia     Ramadhan     Babs Iwarere     African Democratic Congress     Kale Belgore     Offa Grammer School     Omar Gambari     Busari Toyin Isiaka     AbdulRazaq AbduMajeed Alaro     Agbarigidoma     KWSIEC     Michael Nzekwe     Clara Nwachukwu     Paul Odama     Ilorin Durbar     Bankole Omisore     Irepodun     Owo Isowo     Bayo Lawal     Olatunji Abdulmumeen     Olaoye B. Felix     Usman Rifun     Olabimpe Olani     Salau Kabiru Abdullahi     Kulende     New Naira Notes     Special Agro-industrial Processing Zone     Ibrahim Jawondo     Sheikh Ariyibi     Gambari     Onilupeju Of Ilupeju     Muhammad Fawaz Abubakar     Eleja     Hamidat Sulyman-Yusuf     Federal Neuro-Psychiatric Hospital     Is\'haq Modibbo Kawu     Jimoh Akani     Young Progressives Party