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.
Moses Rahman Popoola Elerin Of Erin-Ile Olusin Of Ijara Isin Quareeb Islamic Association Katibi Ibraheem Adeola Federal Neuro-Psychiatric Hospital Musa Aibinu Ambassador Kayode Laro COVID-19 Palliatives Special Agro-industrial Processing Zone Ishola Abdullahi Moses Afolayan Funmilayo Zubair Hassan Abdulazeez Elewu Alumni Association Of The Federal Polytechnic Offa Mashood Abdulrafiu Agboola Mazars Consulting Lanre Aremu Forgo Battery Company Limited Kayode Oyin-Zubair Raheem Adaramaja Bolaji Nagode Kazeem Gbolagade Tayo Alao Jare Olatundun Kwasu Face Masks Abdulazeez Arowona Allocation Mustapha AbdulGaniyu Unilorin FM Ilorin Emirate Staff Association Olupako Of Share Baba-Isale Valsolar Consortium ARMTI Samuel Olusegun Adedayo Samuel Elizabeth Keatswa COVID Rafiu Ibrahim Sambo Murtala Galadiman Ngeri Bukola Ajikobi Abdulmalik Bashir Mopelola Risikatullahi Salau Kabiru Abdullahi Maimunat Oniyangi Kwara Metro Park Moshood Kashimawo Abiola Read With Me Mustapha Olanipekun Yusuf Arowosaye Ope Saraki Olam Food Ingredients Mahmud Ajeigbe Olusola Saraki Bayo Ojo Okin High School Ilorin General Hospital Ifelodun Femi Agbaje UNILORIN Alumni Association IF-K Riskat Opakunle The Herald Sabi Anilelerin Hauwa Nuru Share-Tsaragi Federal Polytechnic Offa Yusuf Abdulwahab Habeeb Abdullahi Al-Ilory Muhammadu Gobir Olanrewju Okanlawon Musa Lola Ashiru Aminat Ahmed Magaji Are Saidu Yaro Musa

