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.

Forgo Battery     Afeyin-Olukuta     Quranic Recitation Competition     AbdulFatai Adeniyi Dan-Kazeem     Yusuf Amuda Aluko     Bamidele Adegoke     Gbugbu     Omupo     Saadatu Modibbo-Kawu     Kolawole Akande     Jimoh Saadudeen Muhammed     Abdulazeez Uthman     Centre For Peace And Strategic Studies     Bola Tinubu     KWASAA     Hamid Bobboyi     Abdullahi Biffo     Universal Basic Education Commission     Agor     SAPZ Project     Yusuf Amuda Gobir     ER-KANG     Kwara Apc     Salihu Alhaji Musa     Gamji Members Association     Saliu Mustapha     Razak Atunwa     Niyi Osundare     Majlis For Sadakah, Zakat And Waqf     Lasiele Alabi Yahaya     Wahab Abayawo     Abdulrazaq Adebayo     Mutawali     Ayinde Oyepitan     Mutawali Of Ilorin     Sadiq Buhari     Eghe Igbinehin     Yeketi     Kpotum Mohammed Baba     College Of Education     Isiaka Yusuf     Kwara State Television     Nigeria Association Of Women Journalists     Jimoh Lambe Abdulkareem     Abdulsalam Firdaous Amosa     April 11     AGILE Programme     Yakub Ali-Agan     Henry Makinwa     Umar Yakubu Jaja     Abdulkadir Remi Hawawu     Ahmed Saidu Rufai     Haleeman Salman     Fatai Adeniyi Garba     Sulyman Buhari     Suleiman Alege Kuranga     Senate President     Ilorin South     Sam Onile     Tunde Yusuf     Post-utme     Mahmud Ayinla Giwa     Col. Adedipe     Olusola Saraki     Adanla-Irese     Gurei     Abdulfatah Ahmed     Ajike People Support Centre     Moses Afolayan     Adebara     Sabo-Oke     Ilorin Amusement Park     Nigerian Supreme Council For Islamic Affairs     Mahmud Ajeigbe     Igbomina     ITP     Binta Abubakar Mora    

Cloud Tag: What's trending

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

Sheu Ndanusa Usman     MATTA Girls Foundation     Talaka Parapo     Kwara Restoration Project     Adesoye College     Mary Kemi Adeosun     IHS Towers     Abdulquowiyu Olododo     Jimoh Bashir     Bamidele Adegoke     Maigida Soludero Transit     Hijaab     Oba Of Jebba     Matthew Babaoye     Olaiya Lawal     Yoruba     Funmilayo Oniwa     Shehu Alimi Foundation For Peace And Development     Ilesha Gwanara Road     Ahmad Lawan     Bayer AG     Igbomina     Issa Memunat Moyosore     Tafida     Olupako     Mansurat Amuda-Kannike     Joshua Adeyemi Adimula     HICA     Ilorin Durbar     Lawal Jimoh     Gobir Organization Foundation     Abdullahi Samari     Apado     Ilorin Innovation Hub     Ahmed Saidu Rufai     Kunle Akogun     Moses Adekanye     Olusegun Adeniyi     Elewu     Raji AbdulRasaq     Ahmad Ali     Lawan     Sola Saraki Educational Foundation     Ahmed Shuaib Buranga     Kwara-SAPZ Project     Osuwa     Muritala Awodun     Adekunle David Dunmade     Sheikh Ariyibi     Onilupeju Of Ilupeju     Abdulhakeem Adelaja Amao     NIPR     Lanre Aremu     Balogun Gambari     Reuben Paraje     AbdulRaheem Ahmad Shayi     Fulani     Monkey Pox     Kwara Poly     Durbar     General Hospital, Ilorin     Turaki     Plat Technologies     Yahaya A Paniyaro     Hassan Oyeleke     Oyedun Juliana Funke     Yakubu Gobir     Abdulraufu Mustapha     Muslim Stakeholders Of Kwara State     Amusa Bello     Trader Moni     Saka Asiat Ayinke     Abdulkadir Jimoh     Orire     Colleges Of Education Academic Staff Union     Abdul Jimoh Mohammed     Lasiele Alabi Yahaya