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.
Nupe UNIFEMGA Joseph Daudu Moshood Bakare Idowu Laro Mahmud Ajeigbe IYA YUSUF Zubair Folorunsho Erubu Saidu Yaro Musa Mohammed Ibrahim Turaki Of Ilorin Kale Kawu Ganiyu Taofiq Apaola Olatunde Oyeyiola Pakata Development Association Abdulrauf Yusuf Erin-ile Muyideen Ajani Bello Kale Ayo Mohammed Lawal Ibrahim Labaika Yaru Bello Oyedepo Presidential Election Lola Olabayo Abdulrosheed Okiki Bilikisu Gambari Niyi Osundare KWASIEC Muhammadu Buhari Amuda Musbau Kwara State Pension Board Tunji Moronfoye 20 Billion Bond Ahmad Ali KwaraLearn Simeon Ajibola Www.Kwarareports.com Abiodun Musa Aibinu NaAllah Ishaq Salman Kwara South KWACOBPA Mary Kemi Adeosun Asiwaju Bola Tinubu Harmony Holdings CLAY POT Tricycle Owners Association Of Nigeria Kwara-SAPZ Project Saheed Akinwumi Chartered Institute Of Personnel Management Of Nigeria Saba Mamman Daniel Isiaka Yusuf Jide Oyinloye Sabi GANZY Ajibike Katibi Sidikat Uthman Ajibola Okoolowo Mahmud Babatunde Baker Apata Ajele Secondary School Rasheed Jimoh Abdulquawiy Olododo Idris Amosa Oladipo Saidu COVID-19 Palliatives Yusuf Ali Centre For Digital Economy JSSCE Oko Erin Ojuekun Saliu Shola Taofeek 3MTT Ilorin Amusement Park Alagbado Hassan Saliu Wasiu Onidugbe

