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.

Adama Isa     Oye Tinuoye     Idris Amosa Saidu     Bankole Omishore     Kunle Okeowo     Frootify     Aremu Bose Deborah     Rotimi Atere     Kwara State Infrastructure Development Fund     Alaaya     Abdulmajeed Wahab     Nupe     Funmilayo Oniwa     Sanitation Exercise     IFK     Amusa Bello     Kwara State Pension Board     Amada Jidda     Adisa Logun     Jamiu Oyawoye     New Model Police Station     Oba Of Jebba     Muslim Cementary     Durosinlohun Atiku     Dagbalodo     M.Y. Abdulrahaman     Abdulhakeem Adelaja Amao     Democracy Day     Saidu Yaro Musa     Sa\'ad Alanamu     Folaranmi Aro     NIPR     Ahmad Ali     TIIDELab     Afolayan     Yusuf Arowosaye     Abdulkadri Ahmad Alaiye     Rebecca Bake     Adeniyi Ojo     Ahman Patigi     IF-K     Aliyu Salihu     Kanu Agabi     Fulani     Ilorin Amusement Park     Suleiman Ajadi     Ola Falade     Baruten     Iyeru Grammar School     Kwara Primary Health Care Development Agency     Senior Special Assistant On Student Affairs     Gaa Olobi     Olufolake Abdulrazaq     Ilesha Gwanara Road     Ndama Al-hassan     Elerinjare     A.G.F Abdulrasaq     Yaru     Mubarak Oladosu     Oniwasi Agbaye     Balogin Alanamu     Isapa     Budo Egba     Kolade Solagberu     Maryam Nurudeen     Tafida Of Kaiama     Lanre Badmus     Mumeen Lah     Young Progressives Party     Isiaka Danmeromu     Olubukola Kifayat Adedeji     Sheikh Hamzat Yusuf Ariyibi     Taofeek Sanusi     Oladimeji Thompson     YAKOOYO     Funmi Salau     Ile Arugbo    

Cloud Tag: What's trending

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

Rotimi Samuel Olujide     07039448763     Buari Edun     Adamu B. Yaqubu     Olaosebikan     Manzuma     Deji Ajani     Yakubu Dogara     Elerin Of Erin-Ile     COVID     KWIRS     TESCOM     Oja-Oba     Kwara State Sports Commission     Ebun-Olu Adegboruwa     Kwara Apc     NULGE     Bello Oyebanji     Ahmad Fatima Bisola     Abdullahi Adisa Akodudu     Tricycle Owners Association Of Nigeria     Ilorin Emirate Staff Association     MATTA Girls Foundation     Na\'Allah     Mohammed Katsina Ahmed     Hassan Oyeleke     Oluronke Adeyemi     Yusuf Ali     Sardauna     Teachers Specific Allowance     Ayodele Olaosebikan     Folorunsho Erubu     General Tunde Idiagbon International Airport     Dar-Al-Handasah Consultants     Abdul-Rahoof Bello     HYPPADEC     Nigerian Army     Wahab Agbaje     Basic Education Certificate Examination     IsDB     Offa Poly     Muhammad Toyin Sanusi     Kwara Polytechnic     Esuwoye     Oro Grammar School     Kubra Kazum     Muhammed Danjuma     Oba Mogaji Abdulkadir     Hussein Oloyede     Muhammed Akanbi     Lawal Jimoh     Aliyu Alhassan     Florence Saraki     Magaji Nda     Firdaos Amasa     Ojo Fadumila     Emir Of Yashikira     Idofin     Saadatu Modibbo-Kawu     Yusuf Arowosaye     Abioye Bello     Ibrahim Mashood     Alfa Modibo Belgore     Abdulmutalib Shittu     Taofik Abiodun Ahmed     ENetSuD     Alikinla     Tafida Of Ilorin     Playing Host     Ijakadi     Dagbalodo     Bayo Lawal     Oloruntoyosi Thomas     Gbenga Olawepo     Yusuf Abubakar     Akeem Olatunji     Raliat Islamic Foundation