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.

Special Adviser On Digital Innovation     AIT Ilorin     Voices Of Tomorrow     Hamidu Olowo     Oke-Kura     Ibrahim Taiwo Road     Sabi     Patigi Regatta     Tuesday Assayomo     Haashim Initiative For Community Advancement     Offa Descendants Union     Rasheed Jimoh     Gbadeyan Gbadura Yomi     Owo Arugbo     Alimi     EFCC     Durbar Festival     Zubair Folorunsho Erubu     Kwara State Fire Service     Revenue Court     KFA     Suleiman Abubakar     Abubakar Aliagan     Shola Odetundun     Abdulhakeem Amao     Aliyu Alhassan     Biliaminu Aliu     Fatimat Saliu     Sa\'adu Salahu     Gbugbu International Market     Basic Education Certificate Examination     Afusat Nike Ibrahim     Yahaya Oloriegbe     Ojuekun     Henry Makinwa     SARS     Yeketi     Waheed Ibrahim     Kale Belgore     Yaru     Saliu Ajia     Suwa-Arabs     New Naira Notes     Mahfouz Adedimeji     Tunde Yusuf     Gbenga Olawepo     Ajibike Katibi     Patience Jonathan     UNIFEMGA     Ahmed Idris Mohammed     Aso-ofi     Hassan Taiye Salam     Roseline Oni Aremu     Ministry Of Women Affairs And Social Development     Alabi Olayemi Abdulrazak     Abdulbaqi Jimoh     Damilola Yusuf     Saad Omo Iya     Muhammadu Buhari     Ademola Kiyesola     Forgo Battery Company Limited     A.E. Afolabi     Isiaka Alikinla     Alapado     Women Radio     Lanre Issa Onilu     Onilorin Of Ilorin     AbdulRazaq Jiddah     Samuel Adaramola     Risikat Lawal     Adewuyi Funmilayo     Sebastine Obasi     Ilorin Talaka Parapo (ITP)     Kale Bayero     Minimum Wage     Akeem Lawal     Aliyu Umar    

Cloud Tag: What's trending

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

Bature Bello     AbdulGaniyu Kareem     Ndakene     Iliasu     Najim Yaasin     Tunde Kazeem     Isiaka Gold     Kwara 2015     UNILORIN Alumni Association     Dan Masanin     Abdulraheem Yusuf     Danladi     Roseline Oni Aremu     Wahab Abayawo     Emir Of Yashikira     Akorede     Jimba Babatunde     Ophthalmological Society Of Nigeria     Kehinde Boyede     Moshood Mustapha     Taofik Abdulkareem Babaita     Tinubu     Idi-Ape     Atunwa     08001000100     Ahmad Uthman     Bureau Of Lands     Saliu Tunde Bello     Iyiola Oyedepo     Nigeria Customs Service     Aishat Sulu-Gambari     Osuwa     Halidu Danbaba     Titus Suberu-Ajibola     Oba-Solagberu     HYPPADEC     Muazam Nayaya     General Hospital     Ilorin South     Saba Mamman Daniel     Okanlawon Musa     Bio Ibrahim     Kwasu     Valsolar Consortium     Sola Saraki University     Al-Hikmah Radio     Oluwarotimi Boluwatife Adenike     Usman Rifun     Adedeji Onimago     Kulende-UITH     Ile Arugbo     Government High School Adeta     Okin Group     Neo Mundo Ltd     Abikan     Sulyman Age AbdulKareem     Muhammed Akanbi     Umar Ahmed Gunu     Kayode Zubair     KFA     Hamidu Olowo     Eleja     Fola Consultant     Oke-Kura     Oba Abdulkadir La\'aro     Abdulraheem Olesin     Kwara Poly     Ahman Pategi     Danhawa     Prince Mahe Abdulkadir     Kwara Metro Park     Sarkin Malamai     Rafiu Ajakaye     Gbajabiamila     KwaraLearn     Abiodun Musa Aibinu     Guber Aspirant