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.

Amos Bajeh     Naira Redesign     Musbau A. Akanji     Kwha.gov.ng     Sulyman Buhari     Sherif Shagaya     Saka Adeyemo     Oni Adebayo     Haashim Initiative For Community Advancement     Raheem Adaramaja     Lai Mohammed     Abiodun Oyedepo     Halimah Perogi     Otuka     Kehinde Boyede     Mary Kemi Adeosun     Harmony Holdings     Countryside Emerging Leaders Fellowship     Taofeeq Olateju     Bibire Ajape     Dumagi     Ibrahim Bio     Saliu Oluwole     Olabanji Orilonishe     Damilola Yusuf Adelodun     KWASEIC     Fatimoh Lawal     Olabode Towoju     John Olobayo     Muhammed Danjuma     Mashood Abdulrafiu Agboola     Abubakar Olusola Saraki     Wasiu Odewale     Muhammad Fawaz Abubakar     Wahab Egbewole     Ben Duntoye     Shoprite     Labour Party     Shuaibu Yaman     Abdulfatah Ahmed     AbdulRahman Saad     Nigeria Governors\' Forum     Ahmed Idris Mohammed     GGDSS Pakata     Ebola     Kunle Suleiman     Oja-Oba     Oluwarotimi Boluwatife Adenike     Wahab Abayawo     Awodun     Ogidi-Oloje     Baruten     Popo-Igbonna     Abdullateef Abdussalam     Sheikh Hamzat Yusuf Ariyibi     Yakubu Danladi     Akeem Olatunji     Olushola Saraki     Clara Nwachukwu     Ishak Mohammed Sabi     Fatai Adeniyi Garba     Kishira     Revenue Court     Alapado     Islamic Development Bank     BIR     Atiku     Teachers Specific Allowance     Sheriff Olanrewaju     Henry Makinwa     Government High School Adeta     Ekiti     Eleyele     Mustapha AbdulGaniyu     Abdullahi Dasilva Yussuf     Coronavirus     Kubra Kazum    

Cloud Tag: What's trending

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

Yemi Osinbajo     Hassan Oyeleke     Government High School Adeta     Ilorin Emirate Stakeholders Forum     Olabode George Towoju     Abdul Jimoh Mohammed     Olayinka Jelili Yusuf     Olatunde Oyeyiola     Muhammad Sirajo Aliyu     Dogara     Elections     Oke-Kura     George Innih     Dumagi     Okoolowo     Elese Of Igbaja     MINILS     Chief Imam Of Offa     Ibrahim Jawondo     Barakat Community Secondary School     Oloyede     Maryam A. Garuba     Musbau A. Akanji     Mutawali Of Ilorin     Bio Ibrahim     ITP     Okin Group     Abdulrazaq Magaji     Seed Technologies     Doyin Awoyale     Federal Polytechnic Offa     Ibrahim Abikan     Mumini Ishola Hanafi     Mohammed Saidu     Kwara North     Issa Memunat Moyosore     N-Power     Buari Edun     Mazars Consulting     RTEAN     Sobi FM     Oloje     CKNG     Just Law Forum     Kwara State Fire Service     Tunji Folami     Mahmud Babatunde Baker     Rachael Obisesan     Abdullahi Saadudeen Alikinla     KWIRS     Yahaya Oloriegbe     Olam Food Ingredients     United Nigeria Airline     Special Agro-industrial Processing Zone     Bankole Omishore     Haruna Tambiri Mohammed     Binta Abubakar-Mora     Kupchi Hosea Maxwell     Saheed Akinwumi     Aremu Bose Deborah     Hussein Olokooba     Crystal Corner Shops     Okanlawon Taiwo     Kunbi Titiloye     Folorunsho Erubu     Congress For National Consensus     V.O. Abioye     Oluwatoyin Lukman     Mutawali     Abatemi Usman     Split Diamond Interchange     Idris Amosa Oladipo Saidu     Wahab Femi Agbaje     Aisha Abodunrin Ibrahim     Ola Falade     Leke Ogungbe     Taofeek Ibraheem