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.
Lithium Deposit Onilorin Of Ilorin Irepodun Kawu Abubakar Abdulraheem SUBEB Wahab Femi Agbaje Nigeria Customs Service Kale Bayero Joseph Yemi Ajayi AbdulFatai Adeniyi Dan-Kazeem Pacify Labs Government Girls’ Day Secondary School Pakata ER-KANG Mining Okeose Christian Cementary Madawaki Haleeman Salman Jawondo Playing Host Gwanara Ahmad Belgore Babs Iwarere Muhammad Toyin Sanusi Hikmah AbdulKareem Ramadan Yahaya Jibril Usman Government House Garba Idris Ajia Okasanmi Ajayi Radio Kwara Aliyu Muhammed Ronke Adeyemi Quareeb Sidikat Akaje Samuel Elizabeth Keatswa Abdullah Janet Amudat Chief Imam Of Omu-Aran Suleiman Idris Toun Okewale-Sonaiya Elesie Of Esie Mohammed Haruna Galland Marcias Wole Oke Olaiya Lawal Baba Issa Awoye Belgore Kale Belgore Forgo Battery Bursary Abdulkadir Bolakale Sakariyah Oke-Kura Oke-Ogun Tunde Oyawoye PPS Samuel Adaramola General Hospital Tunde Mukaila Mustapha Folorunsho Erubu Kayode Ishola Olukotun Of Ikotun Michael Nzwekwe Sai Kayi Aliyu Muhammad Saifudeen Mazars Consulting Sam Okaula Bankole Omishore Ayinde Oki Idofin Ahmed Alhasssan Ilorin Durbar Mahe Abdulkadir Ojo Isekuse GRA National Broadcasting Commission April 11 Ibrahim Taiwo Road Sabitiyu Grillo

