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.

Dan Iya Of Ilorin     IHS     Ndakene     Ilorin Curfew     Ilorin Water Reticulation     Femi Ogunsola     Haruna Tambiri Mohammed     Agor Market     SWAN     Adisa Logun     Alikinla     Sheikh Ridhwanullah El-ilory     Salmon Babatunde Salmon     Khairat Gwadabe     Kassim Babamale     Saka Onimago     Tunde Mukaila Mustapha     Taofeek Ibraheem     Shehu Salau     Adeola Abraham     Kamaldeen Gambari     Societe Generale Bank Of Nigeria     Coronavirus     Chikanda     Offa     Isapa     Erin-ile     Bamikole Omishore     Shonga     Facemasks     Yusuf Badmus     Yahaya Muhammad     Bolaji Aladie     Ilorin General Hospital     Osuwa     Muhammad Toyin Sanusi     A.G.F Abdulrasaq     Shaaba Lafiagi     Samuel Olusegun Adedayo     Jamila Bio Ibrahim     Radio SBS     NYSC     Idris Amosa Oladipo Saidu     Saheed Popoola     Ademola Kiyesola     Idofin     Ilorin Amusement Park     Sabi     Balogun-Ojomu     Bayo Onimago     Joana Nnazua Kolo     MATTA Girls Foundation     Okedare     Kwarareports     TESCOM 2025     Olayinka Oladapo Jogunola     Sayomi     Lanwa     Abdul-Rasheed Na\'Allah     Ita-Nmo Market     Amuda Aluko     Nagode     Gbenga Adebayo     Daud Adeshola     Earlyon Technologies     KWATMA     Lukman Adeloyin     Damilola Yusuf Adelodun     Olukotun Of Ikotun     All Confederation Of Principals Of Secondary Schools     Abdulraheem Yusuf     Muhammad Mustapha Suleiman     Wahab Abayawo     Naira Redesign     Peter Obi     Prince Mahe Abdulkadir     Funmilayo Isiaka Oniwa    

Cloud Tag: What's trending

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

Babajide Ajayi     Tunji Olawuyi     Goodluck Jonathan     Kabir Shagaya     Share/Tsaragi     Ibrahim Agboola Gambari     Sadiq Buhari     Mohammed Saidu     Sheikh Ridhwanullah     Abdulfatai Salman Baakini     Mutawali     LEAH Charity Foundation     Albert Ogunsola     Doyin Agbamu     Neuropsychiatric Hospital     David Oyerinola Adedunmoye     Abubakar Atiku     Local Government     Saka Asiat Ayinke     Rotimi Samuel Olujide     Ramadan     George Innih     Kwara Hotel     Geri-Alimi Split Diamond Interchange     Kunle Suleiman     Crystal Corner Shops     Charcoal     AGM Professional Services     AbdulQowiy Olododo     UNILORIN Alumni     Esinniobiwa Quareeb     Dele Belgore     Shettima Of Ilorin     Abdulhakeem Amao     Aminat Ahmed     Ndakene     Federal Allocation     IEDPU     Sheikh Alimi     Ibrahim Labaika     Emmanuel Bello     Abiodun Oyedepo     Orire     QuickWin     SARS     Elelu     Iyabo Adisa Ibiyeye     David Oyepinola Adedumoye     Abdulrahman Abdulrazaq     Leke Ogungbe     Nigeria Customs Service     Adesoye     Abdulraheem Yusuf     Awwal Jawondo     Saliu Shola Taofeek     Amina El-Imam     Arinola Fatimoh Lawal     Shuaib Abdulkadir     Kwara Primary Health Care Development Agency     Pakata     Bolaji Aladie     Suleiman Idris     Medinat Folorunsho Salman     Abdulfatai Ahmed     Bello John Olanrewaju     Ishola Abdullahi     Mary Arinde     Joana Nnazua Kolo     Garba Idris Ajia     Forgo Battery     Alapansapa     Yekini Adio     First Lady     Niyi Ogundiran     Senior Special Assistant On Student Affairs     IsDB     Lanre Badmus