Kwara dumps plan for N20bn bond
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.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Yakubu Dogara Musa Yeketi Lawan Amule Yusuf Babatunde Abdulwahab Alao Ayotunde Bankole Omishore Kola Olota Jalala Kazeem Oladepo Royal FM Kwara Consultative Forum Olufolake Abdulrazaq Hydro-electric Power Producing Areas Development Commission Revenue Court Ganiyu Taofiq Kwara State Geographic Information Service Oloye Saidu Yaro Musa Shettima Aliyu Muhammad Saifudeen Code Of Conduct Ajibola Saliu Ajia Babajide Ajayi Titus Suberu-Ajibola Iyabo Dupe Adekeye Ali Ahmad Nigeria Customs Service Alliance For Democracy Ilorin Talaka Parapo Abubakar Abdulraheem Afeyin-Olukuta T And K FOODS MMWG Emir Of Yashikira Park Special Agro-Industrial Hub Esinniobiwa Quareeb PAACO-PCL Consortium Shuaib Abdulkadir Sulyman Age AbdulKareem Muhammed Taofeeq Abdulrazaq Olatunde Olukoya Ballah Siddiq Adebayo Idowu Salawu Senior Ibrahim Suleiman Tunji Olawuyi Shonga Farm Project Abiodun Oyedepo Amina Susa\'a De Ahmed Kwara 2023 Danhawa KWASSIP General Hospital Lola Olabayo Sheikh Ridhwanullah El-ilory Umar Saro Bahago Kolawole Akande Olanrewju Okanlawon Musa Rihanat Ajia Haashim Initiative For Community Advancement Kwara Volleyball Association Minimum Wage Gafaru Olayiwola Olorisade Usman Rifun Suleiman Abubakar Mahmud Ajeigbe Simeon Ajibola Babatunde Ajeigbe Aasiyat Bello Oyedepo Odo-Owa Yusuf AbdulRasheed National Association Of Nigerian Students Michael Nzwekwe Abdulraheem Yusuf COVID-19 Palliatives

