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.
Shuaibu Yaman Abdullahi Assayomo Usman Yunusa General Hospital, Offa Bureau Of Lands Yekeen Alabi Aisha Ahman-Pategi Kayode Laro Sa\'ad Alanamu Aishat Sulu-Gambari Rashidi Yekini Bank Of Industry Joshua Adeyemi Adimula Olajumoke Monsura Gafar Adanla-Irese Ajeigbe Femi Agbaje Elerinjare-Ibobo Umar Sanda Yusuf Abdulkadir Orire Adebayo Mohammed Kamaldeen Sulyman Atolagbe Alege RTEAN Tanke Road Oluwole Dupe Sabi Tafida Of Kaiama Ibrahim Bio Sheikh Ariyibi Al-Adaby Okin Malt David Oyedepo Paul Olawoore Adesina Simon Sodiya Shonga Idris Garuba IDPU Bolaji Abdullahi Agor Market Ibrahim Oloriegbe Damilola Yusuf Adelodun Logun Ebun-Olu Adegboruwa Lafiagi United Nigeria Congress Party Saad Omo\'ya Salake SUBEB Abiodun Abdulkareem Temitope Ogunbanke Volunteers Of Ilorin Community And The Emirate Olomu Adama Isa Iyiola Oyedepo Oloye PPS Bayo Ojo Joseph Bamigboye Congress For National Consensus AGF Abdulrazaq Fatimah Abdulkadir Saliu Shola Taofeek Olatunde Oyeyiola Sa\'adu Gambari Hikmah AbdulKareem Age AbdulKareem Amada Jidda Abdullahi AbdulMajeed Olaiya Zuberu Mashood Dauda Musa Alhassan Buge Convocation Ceremonies Yahaya Abdulkareem Babaita Katibi Ibraheem Adeola Nnazua Abdulmumin Yinka Ajia Dumagi

