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.

SUBEB     Anilelerin     Senate     Taofeek Ibraheem     Oluranti Idowu     Tunde Mukaila Mustapha     Adama Isa     George Innih     Joseph Bamigboye     Oke-Odo     Sheikh Ariyibi     Share     Dar-Al-Handasah Consultants     AGF Abdulrazaq     Laboratory-to-Product     TVC Female National Debate     Olaiya Zuberu     Oloye     Ibrahim Akaje     Atiku     Firdaos Amasa     Sheikh Ridhwanullah El-ilory     Oniwa     Taofik Abiodun Ahmed     All Peoples Party     Ilorin Emirate     Bashiru Makama     Ilorin General Hospital     Gbadeyan Gbadura Yomi     Abdulkarim Adisa     Emir Of Yashikira     Abdullahi Adisa Akodudu     NITDA     Amuda Aluko     Muhammed Taofeeq Abdulrazaq     Osi     Femi Ogunsola     Haleeman Salman     Ishaq Salman     Student Learning Support Helpline     Isiaka Danmeromu     Balogun Gambari     Aisha Ahman Pategi     Bibire Ajape     Share/Tsaragi     Omoniyi Ayinla     Al-Ilory     KwaraLearn     Yusuf Aiyedun     Pacify Labs     Buari Edun     Federal College Of Education (Special), Afon     Abdulhakeem Adelaja Amao     HAMFAT Clinic And Maternity     Saka Abimbola Isau     CCT     Monthly Sanitation     NFAI     Doyin Awoyale     AbdulRazaq Abubakar Jiddah     Abdullahi AbdulMajeed     Makama Of Ilorin     Ifelodun     Charcoal     Shonga     Ayinke Saka     Bukola Saraki     Abdulkadir Remi Hawawu     Baba Issa     Garba Dogo     Lanre Badmus     Oko     Kola Adesina     Oba David Oyerinola Adedunmoye     Prince Mahe Abdulkadir     Kazeem Gbolagade     Abdulwasiu Bolaji Adeyi    

Cloud Tag: What's trending

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

Okin Biscuits     Mubarak Oladosu     Waziri Yakubu Gobir     Otuka     Eleja     Kuliyan Geri     Diagnostic Centre     Mohammed Haruna     Falokun-Oja     Bello Bature     Bursary     Kwara State Television     Ishak Mohammed Sabi     Rebecca Olanrewaju     Kola Shittu     Monkey Pox     Abdulrasaq Alaro     Owo Isowo     Lanre Olosunde     NULGE     Justina Oha     Titus Suberu-Ajibola     Stephen Fasakin     Agbarigidoma     Pacify Labs     Kayode Zubair     Playing Host     Ayekale     Abdulrazaq Akorede     PAACO-PCL Consortium     Isaac Gbenle     University Road     David Oyerinola Adedunmoye     Khairat Gwadabe     Abdulhakeem Adelaja Amao     Kunbi Titiloye     Abubakar Ndakene     Fatima Abolore Jimoh     S.O. Opowoye     Salihu Ajibola Ajia     Amina El-Imam     Mufutau Gbadamosi Esuwoye     Millennium Development Goals     Saka Asiat Ayinke     Ilorin South     Tunji Ajanaku     Abubakar Imam     Ahmad Ali     Saadatu Modibbo-Kawu     Rebecca Bake     Countryside Emerging Leaders Fellowship     Reuben Paraje     Bayo Onimago     Special Agro-industrial Processing Zone     Akeem Olatunji     Kwara 2019     Oyawoye     Shuaibu Yaman Abdullahi     Mahe Abdulkadir     Harrison Osauwagboe     Hameed Oladipupo Ali     Alabere     Oloyede     Monthly Sanitation     Saheed Alakoso     Garba Ado Sanni     Okeose Christian Cementary     Muhammad Akande Olarewaju Odunade     Ajia-Bako     Ridwan Agboola     Yaman     Olatunji Bamgbola     Federal Neuro-Psychiatric Hospital     UNIFEMGA     Sarah Jubril     Bukola Saraki     Bluenile Associates