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.

Elelu     Mohammed Danjuma     Hassanat Bello     Suraj Tunji Oyewale     Nnazua     HAMFAT Clinic And Maternity     Mohammed Halidu     Yekini Adio     Omar Bolaji Gambari     Solomon Edojah     Moro     Naira Redesign     Kpotum Mohammed Baba     Garba Idris Ajia     Musa Abdullahi     Magaji Are     Yahaya Oloriegbe     Ishaq Oloyede     NTA Ilorin     Edu     Ijagbo     Mutawali Of Ilorin     Roseline Oni Aremu     Mohammed Haruna     Tunde Mukaila Mustapha     SGBN     Tosho Yaqub     Ramadan     Senior Ibrahim Suleiman     Buari Edun     Abdullahi G. Mohammad     Ayodele Olaosebikan     Abdulrosheed Okiki     Tunde Yusuf     Raliat Islamic Foundation     Sobi FM     Nigeria Computer Society     Arandun     Aso-ofi     Ramadhan     Isiaka Gold     Alagbado     Sulyman Atolagbe Alege     Tunde Akanbi     Muhammed Akanbi     A.E. Afolabi     Hassan Abdulazeez Elewu     Ibrahim Mohammed     Muhammad Akande Olarewaju Odunade     Kanu Agabi     Lafia Aliyu Korasabi     Kwara Central     Bayo Lawal     Islamiya Abdulraheem     Ojo Fadumila     Abdulhakeem Adelaja Amao     Samuel Olusegun Adedayo     Donatus Ejidike     Kola Adesina     Binta Abubakar Mora     Presidential Election     Mohammed Kamaludeen     Salihu Alhaji Musa     Emmanuel Olatunji Adesoye     Jeunkunu-Malete-Bani     Moremi High School     Oke Sunna     Rashidi Yekini     Societe Generale Bank Of Nigeria     Taofeek Ibraheem     KWAFFA     Babaloja-General     Femi Oladiji     Kwara State Governor     Segun Ogunsola     Oya State     PAACO-PCL Consortium    

Cloud Tag: What's trending

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

AbdulRauf Keji     All Confederation Of Principals Of Secondary Schools     Ajibike Katibi     Communication Network Support Services     VADA     Rebecca Olanrewaju     Babata     Ayeyemi Sulaiman     Shehu Raheem Adaramaja     Adesoye     Bello Abubakar     Odogun Olushola Gabriel     Hikmah AbdulKareem     Shonga Farm Project     African Democratic Congress     Rashidi Yekini     Noah Yusuf     Sardauna     Rice Farmers Association Of Nigeria     Magaji Nda     Asa     A.O. Belgore     Michael Nzwekwe     Abubakar Atiku     Chikanda     Raheem Adaramaja     Shero     ER-KANG     Micheal Imodu-Ganmo Road     TIC     Musa Abdullahi     JMK Construction Company Limited     Gbenga Adebayo     Oko-Olowo     Vasolar     Najim Yaasin     Moronfoye     Laolu Saraki     Wasiu Odewale     Mary Kemi Adeosun     Matthew Okedare     Jaigbade Alao     JUSUN     Council Of The Wise     Kisra     Dele Belgore     Niyi Ogundiran     Olabode George Towoju     Hijab     Aliyu Kora-Sabi     Henry Olaosebikan     Kwara     Lanre Issa Onilu     Iyabo Adisa Ibiyeye     Awoye     Muhammed Mahe Abdulkadir     CACOVID     Khairat Gwadabe     Olohungbebe     Ayinde Oyepitan     Bello Bature     Gaa Olobi     Buari Edun     Yusuf Lanre Badmas     Omar Gambari     Mumeen Lah     UITH     Tricycle Owners Association Of Nigeria     Olusola Saraki     Sheikh Ariyibi     Bola Sagaya     Okin Group     Kayode Ogunlowo     Pategi     Olugbense     GAMA     COVID