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.
Ahmed Idris Mohammed Unilorin FM Amada Jidda Quareeb Risikat Lawal John Olajide Adedipe Kwasu Kaosarah Adeyi Abdulrosheed Okiki Abdulmumini AbdulRazaq Yusuf Amuda Abubakar Oro Grammar School Summit University Osuwa Mohammed Danjuma Issa Baba Bola Iyabo Ibiyeye Adisa Ijakadi Chemiroy Nigeria Limited Share/Tsaragi Laboratory-to-Product Muhammed Taofeeq Abdulrazaq Yahya Mohammed Inside Kwara Nigeria Foundation For Artificial Intelligence Afolayan Abdulkadir Akanbi-Oke Ajase-Ipo Abubakar Olusola Saraki Olaiya Victor Mobolaji Abubakar Atiku Saduki Lafiagi Quran Al-Ilory Saba Mamman Daniel Henry Olaosebikan Emir Of Kano Harmony Holdings Olohungbebe Gamji Members Association Taibat Ayinke Ahmed Centre For Peace And Strategic Studies Ibrahim Kayode Adeyemi 2017 Budget Saadu Yusuf Basic Education Certificate Examination Haruna Tambiri Mohammed Lawal Arinola Kudirat Segun Adeniyi Amoyo Ilorin Water Reticulation Ajibola Saliu Ajia Lukman Oyebanji Fagbemi Ayodele Shittu Nigeria Association Of Women Journalists Olayinka Are Maryam Ado Bayero Mohammed Ajia Ibrahim Niguel Gallando Marcias Ibrahim Labaika Yusuf Amuda Gobir Olumide Daniel Ibitoye Freshvine Nigeria Limited Osi Jumoke Gafar Oniyangi Amuda Aluko 2023 Elections Dan Iya Of Ilorin Raheem Adaramaja Umaru Saro Hakeem Lawal Kwara Consultative Forum Ndakene Saka Saadu Aisha Gobir Magaji Are

