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.

Olaitan Adefila     Just Law Forum     Kola Adesina     Olabode George Towoju     Peculiar Allowance     Iqra Books     COVID-19 Palliatives     IHS     Mufutau Gbadamosi Esuwoye     Quranic Recitation Competition     Sheikh Alimi     Babatunde Ishola Babaita     Ilesha-Baruba-Gwanara     Saka Balikis Kehinde     Modibo Kawu     Unilorin     Shettima Of Ilorin     Yemi Osinbajo     Principal Private Secretary     Olofa Of Offa     Abubakar Baba     Afolasade Opeyemi Kemi     Umar Adelodun     Pakata     Folashade Omoniyi     John Obuh     Saidu Yaro Musa     Kuliyan Geri     Aishatu Ahmed Gobir     Bola Sagaya     General Hospital     Kayode Oyin-Zubair     Abubakar Olusola Saraki     Kwara Central     Yahaya Abdulkareem Babaita     Awili Pedro     Kwara Apc     Yahya Mohammed     Curfew     Surajudeen Akanbi     Ambassador Kayode Laro     Saliu Shola Taofeek     Centre For Peace And Strategic Studies     Adisa Logun     James Ayeni     Bello Bature     Shururat Olatinwo     Alaro     Goodluck Jonathan     Abdullahi Imam Abdullahi     Baboko Primary School     Aliyu Alhassan     Akom Construction And Engineering Synergy Ltd     Col. Ibrahim Taiwo     Neuropsychiatric Hospital     UNILORIN Alumni     Issa Baba     KWSUED     Shehu Salau     Kunle Okeowo     Government House     Centre For Digital Economy     Abdulganiyu Salahudeen     Olaosebikan     Musa Aibinu     Adekunle David Dunmade     Abubakar Kawu Baraje     JMK Construction Company Limited     Sola Saraki Educational Foundation     Marafan Shonga     Markaz Arabic And Islamic Training Institute, Agege     Ayinke Saka     Tunji Ajanaku     Matthew Babaoye     Elese Of Igbaja     Jimoh Akani     Joseph Alex Offorjama    

Cloud Tag: What's trending

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

Babaita     Ibrahim Mohammed     Maigidasanma     Ibraheem Adeola Katibi     Fatimat Saliu     Ahmad Ali     Ita-Ore     Henry Olaosebikan     Isiaq Khadeejah     Ariyo     Arinola Fatimoh Lawal     GRA     Doyin Group     Umar Yakubu Jaja     Ilorin.Info     Forgo Battery     Danhawa     IYA YUSUF     Mufutau Olatinwo     Ubandoma Of Ilorin     Lanre Jimoh     Mahmud Ayinla Giwa     Mumini Ishola Hanafi     Tafida Of Ilorin     Kwara State Printing And Publishing Corporation     Dasuki Belgore     Jaiz Bank     Olaiya Zuberu     Ramadan     Ilesha-Gwanara     Lateef Alagbonsi     Kudirat Arinola Lawal     Bashiru Makama     Atiku Abubakar     Curfew     Idowu Aremu     Oba Sulaiman Asude     Lawal Jimoh     Saliu Alamoyo     SUBEB     Frootify     Iyabo Adisa Ibiyeye     20 Billion Bond     Shehu Salau     Women Radio     Balogun Fulani     RTEAN     Ibrahim Abduquadri Abikan     Joseph Yemi Ajayi     Elelu     Alaro     Oniyangi Kunle Sulaiman     Abdullateef Abdussalam     Sulyman Tejidini     Dan-Kazeem     Saliu Ajia     Baba-Isale     Kayode Ibrahim     Col. Ibrahim Taiwo     Yeketi     Femi Gbajabiamila     Wahab Egbewole     Taiwo Joseph     Ibrahim Labaika     Adewuyi Funmilayo     Police Commissioner     Gwanara     Deji Ajani     Iyabo Adewuyi     Al-Adaby     Musbau A. Akanji     Clara Nwachukwu     NTA Ilorin     Yaman     Government House     Gbemisola Saraki     Jeunkunu-Malete-Bani