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.

Olatunde Oyeyiola     Musbau A. Akanji     Sheu Ndanusa Usman     Zulkifli Ibraheem     Just Event Online     Pilgrims Board     Muslim Cementary     Adewuyi Funmilayo     ARMTI     Amoyo     Dar-Al-Handasah Consultants Ltd     Peter Obi     Gurei     Abdulwaheed Musa     Isiaka Yusuf     Paul Odama     Peculiar Allowance     Baba Issa     Asa LGEA School     Alliance For Democracy     Bature Bello     Soffiyyallah Kamaldeen     Aliyu Salihu     James Ayeni     Umar Yakubu Jaja     United Nigeria Airline     NSCIA     AbdulGaniyu Kareem     Universal Basic Education Commission     Funmilayo Mohammed     Sidikat Akaje     Chief Imam Of Lafiagi     Alfa Yahaya Road     Aliyu Adebayo     Babatunde Ajeigbe     Arinola Lawal     Niyi Ogundiran     Adamu Ibrahim Sabi     Aishatu Ahmed Gobir     Abdulazeez Uthman     Bolaji Aladie     Local Government     Obayomi Azeez     Iyabo Adewuyi     Abdulrahman Abdullahi Kayode     Forgo Battery Company Limited     Muhammad Ghali Alaaya     Yetunde Balogun     Hamza Usman     Elelu     Societe Generale Bank Of Nigeria     Garba Idris Ajia     Yoonus Kola Olatinwo     MMWG     Emir Of Kano     Hussein Oloyede     Umar Sanda Yusuf     Baba-Isale     AbdulHakeem Ajibola Akanbi     Mohammed Danjuma     Umar Danladi Shero     Idowu Laro     Oke-Ero     Ajibike Katibi     Quarry Royal Valley     Ishaq Salman     Oke-Kura     Dunmade     Ibrahim Agboola Gambari     Al-Adaby     Atiku     Nigerian Army     Temitope Ogunbanke     Sabo-Oke     Abdulrasheed Akogun     Abdul Jimoh Mohammed     Christian Association Of Nigeria    

Cloud Tag: What's trending

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

Mamman Saba Jibril     Okin High School     Arinola Fatimoh Lawal     Solomon Edojah     Abdulmumini AbdulRazaq     Shuaibu Yaman     Aliyu Muhammed     Eleja     Assayomo     Ahmed Idris Mohammed     Wahab Issa     Communication Network Support Services     Ilorin Central Mosque     Iponrin     Elelu     Alapansapa     Al-Adaby     Gbugbu     Michael Nzwekwe     Lola Ashiru     IQRA College     Adamu B. Yaqubu     Emir Of Ilorin     Iyabo Adisa Ibiyeye     Ayobola Ipinlaiye     SAPZ Project     Bayer Nigeria Limited     Abubakar Aliagan     Ilorin Amusement Park     Theophilus Oyebiyi     Maigida Soludero Transit     Ajia-Bako     Teachers Specific Allowance     Bilikis Oladimeji     Senate Presidency     Yahya Mohammed     Mohammed Lawal     Ahmed     David Oyepinola Adedumoye     National Union Of Road Transport Workers     Orisa Bridge     Bello Bature     Saad Omo\'ya     Sheriff Shagaya     Abdulrazak Shehu Akorede     Saadu Alanamu     Aliyu Alhassan     Wasiu Odewale     Bankole Omisore     Emir Of Kano     Olomu Of Omu-Aran     Mansur Alfanla     Centre For Digital Economy     CCB     Oke-Ode     Tricycle Owners Association Of Nigeria     SUBEB     Ogbondoroko     Zaratu Umar     Saka Aleshinloye     Shehu Jimoh     Bolakale Ayo     Ibrahim Abiodun     Charcoal     Ilorin West     Bello Taoheed Abubakar     Tafidan Kaiama     Ijagbo Health Centre     Hijab     Kwara State Television     Balogun Gambari     Mutawali Of Ilorin     Fulani     Ekiti     Mahmud Ajeigbe     Olushola Saraki     Abdulwasiu Bolaji Adeyi