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.
Abdulrazaq Adebayo Lai Gobir Raimi Iyanda Mary Kemi Adeosun Nigeria Foundation For Artificial Intelligence Isiaka Gold Tafidan Kaiama Ahmed Bayero Bayo Mohammed Onimode Oba Abdulkadir La\'aro Bukola Ajikobi Mufti Of Ilorin IDPU Lola Olabayo Aisha Abodunrin Ibrahim NFAI Idi-Ape ER-KANG Wahab Egbewole Musa Ayinla Yeketi Oke-Ode Segun Ogunsola Taofik Abiodun Ahmed Sheriff Olanrewaju Yahaya Jibril Usman Old Oyo Aliyu Salihu Ayobami Seriki Kwara State Government Just Event Online Tescom.kwarastate.gov.ng Henry Olaosebikan Ghali Alaaya Raliat Elelu-Habeeb Isiaq Khadeejah Olayinka Jelili Yusuf Ibikunle Ogunleye Adesoye College Imam Gambari Busari Toyin Isiaka Charcoal Afolayan Olaiya Zuberu Bursary Hassan Taiye Salam Ibrahim Abiodun JUSUN Chartered Institute Of Personnel Management Of Nigeria Shaykh Luqman Jimoh Mope Dasuki Belgore Press Release Abdullahi Dasilva Yussuf Prince Mahe Abdulkadir Flights To Ilorin Mujtabah Bature Yakub Lai Gobir Ilorin Muslim Community Sai Kayi Olatunji Ayeni Muritala Olarewaju Maigidasanma Clement Yomi Adeboye Oju Ekun Sarumi Okedare Funmilayo Zubair Shururat Olatinwo CUTI Senior Ibrahim Suleiman Salary Lateef Fagbemi Lotus Bank Kwara Restoration Project Lola Ashiru Ajidagba Rafiu Ibrahim Ibrahim Taiwo Road Dasuki Belgore

