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.

Fatai Adeniyi Garba     Hassan Taiye Salam     First Lady     Radio Kwara     Offa Poly     Kwara State Sports Commission     Ijagbo     Bolakale Ayo     SSUCOEN     Saheed Akinwumi     Lanwa     Yakub Ali-Agan     Kwara State Polytechnic     Ahman Pategi     KWIRS     Saka Onimago     Yahaya Oloriegbe     Idris Amosa Saidu     Kwara NIPR     Women For Change And Development Initiative     Yomi Adeboye     Illyasu Abdullahi     Ojo Fadumila     Kumbi Titiloye     Mufutau Olatinwo     Owo Isowo     Paul Odama     IHS     Fatai Olodo     Saliu Tunde Bello     3MTT     Rotimi Oyedepo     Ebola     Offa Descendants Union     Olusin Of Ijara Isin     Modibbo Kawu     Olaoye B. Felix     Idowu Laro     Kaiama     Presidential Election     Adedeji Onimago     IF-K     Centre For Digital Economy     Ganmo Electricity Sub-Station     Lawal Arinola Kudirat     Oba Mogaji Abdulkadir     Kwara Apc     Markaz Arabic And Islamic Training Institute, Agege     Omotoso Musa     Yunus Oniboki     NTA Ilorin     Akume     Bilikisu Gambari     Garba Ado Sanni     Bolakale Saka     Mahee Abdulkadir     Moshood Mustapha     Tunji Ajanaku     Opobiyi     CCB     Razaq Atunwa     Olushola Saraki     Sheikh Ariyibi     Haliru Yahaya     Medinat Folorunsho Salman     Al-Ilory     Kwara 2023     Saliu Shola Taofeek     Salami Adekunle     Oni Adebayo     Abdulwasiu Bolaji Adeyi     Raymond Olaitan     Rafiu Olasile     Kwara Pdp     Bibire Ajape     Aremu Odolaye     Al-Adaby    

Cloud Tag: What's trending

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

Tunde Yusuf     Samuel Olusegun Adedayo     Dauda Adeniran Adeshola     Abdulmumin Yinka Ajia     Aliyu Olatunji Ajanaku     Saidu Kawu     Omoniyi     Maryam A. Garuba     Abdulahi Abubakar Bata     Tayo Alao     Mamman Saba Jibril     Tsaragi-Share     Esuwoye     Yahaya Seriki     Yusuf Lanre Badmas     Offorjama     Saidu Isa     Federal Allocation     Abubakar Abdullahi Bata     Apaola     Joseph Offorjama     NIRSAL     Kale Belgore     Lawal Jimoh     Agbarere     Ibrahim Gambari     Academic Staff Union Of Universities     Special Agro-industrial Processing Zone     Ahman Pategi     Muhammed Taofeeq Abdulrazaq     Alagbado     Bola Olukoju     CCEPE     Lithium Deposit     Saheed Akinwumi     Musa Ayinla Yeketi     Saka Abimbola Isau     IYA ALFA NLA     Press Release     Alliance For Democracy     Muazam Nayaya     Mansur Alfanla     Elections     John Mayokun Dada     Aisha Ahman Pategi     Suleiman Alege Kuranga     Radio Kwara     Laolu Saraki     Olubukola Kifayat Adedeji     Nigerian Correctional Service     Chief Imam Of Ilorin     Ahmad Lawan     Saka Adeyemo     Dogara     Tunde Kazeem     Coalition Of Kwara North Groups     Tunji Moronfoye     Yusuf Amuda Abubakar     Sadiq Buhari     Segun Adeniyi     Haliru Yahaya     Adeniyi Ojo     Makama Of Kaiama     Colleges Of Education Academic Staff Union     Abdullahi Imam Abdullahi     Ilorin Innovation Hub     Ministry Of Women Affairs And Social Development     AbdulRazaq Jiddah     Patience Jonathan     Ilorin Metro Park     Razaq Atunwa     Ambassador Kayode Laro     Afolabi-Oshatimehin Adenike Harriet     Ayo Salami     GRA     KWSUED     Abdulrazaq Adebayo