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.

Abdulrazaq Adebayo     Hijaab     Jimoh Akani     Ibrahim Abdulkadir Abikan     Matthew Babaoye     Yoonus Lawal     KWATMA     National Party Of Nigeria     Sa\'adu Salahu     Amuda Aluko     Afetu Of Alabe     Galland Marcias     Saliu Tunde Bello     Emir Of Kano     Ibrahim Sulu Gambari     Sam Onile     Haashim Initiative For Community Advancement     Kwara State Pension Board     Ebola     Doyin Awoyale     Alaro     Elerin Of Adanla Irese     Ilesha-Gwanara     Balogun Fulani     Simeon Ajibola     Babatunde Ajeigbe     NTA Ilorin     Abdulrahman Abdullahi Kayode     Yahaya Jibril Usman     Ojo Isekuse     IFK     Bashiru Makama     Iponrin     Maryam A. Garuba     Sanitation Exercise     Adebayo Salami     Abdulwahab Oba     Abdulhakeem Amao     Offorjama     Savannah Centre For Diplomacy, Democracy And Development     International Public Sector Accounting Standards     Samuel Adaramola     Logun     Sa\'adu Salau     IQRA College     Mohammed Ibrahim     Mufutau Gbadamosi Esuwoye     Olusin Of Ijara Isin     Col. Adedipe     Gwanara     Bayo Mohammed Onimode     Sarah Jubril     Henry Makinwa     Senate Presidency     Magaji Erubu     Kwabes     Www.Kwarareports.com     Ibrahim Issa Jetti     Olawuyi     Flights To Ilorin     Forgo Battery     Tayo Awodiji     Special Adviser On Digital Innovation     Prince Mahe Abdulkadir     Elections     TIIDELab     Ndama Al-hassan     Ayo Adeyemi     Yaman     Ahman Patigi     Sobi Hill     Akeem Lawal     Aliyu U. Tilde     Undergraduate Bursary     Unilorin     Baakini     Kwara State Council Of Chiefs    

Cloud Tag: What's trending

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

Talaka Parapo     Adewuyi Funmilayo     Shehu Salau     Yunus Lawal     Adesoye     Fareedah Dankaka     Facemasks     Ilesha-Gwanara     ASKOMP     Chief Imam Of Omu-Aran     Awwal Jawondo     Chief Of Staff     HICA     Col. Taiwo     Oluwarotimi Boluwatife Adenike     Bolakale Kawu Agaka     Kwara State Governor     Egbewole     Share-Tsaragi     Sobi Hill     Abdulahi Abubakar Bata     Jaiz Bank     Seun Bolaji     Abdulganiyu AbdulAzeez     Rex Olawoye     Suleiman Ajadi     Kwara Politics     Unilorin     Principal Private Secretary     Bolaji Nagode     Eleyele     Congress For National Consensus     Umar Danladi Shero     Tsaragi     Yemi Sanni     Lola Olabayo     Toun Okewale-Sonaiya     Iponrin     Gafaru Olayiwola Olorisade     Opaleke Bukola Iyabo     Muritala Awodun     QuickWin     KwaraLearn     Earlyon Technologies     Taiwo Joseph     Y.A. Abdulkareem     Sam Okaula     Yoonus Lawal     Joseph Yemi Ajayi     Ita-Ore     AbdulRaheem Ahmad Shayi     International Public Sector Accounting Standards     Alaaya     JMK Construction Company Limited     Abegunde Goke     LAK Jimoh     Sulyman Buhari     Kayode Yusuf     Medinat Folorunsho Salman     Afolabi-Oshatimehin     Abdulraheem Olesin     Olaiya Victor Mobolaji     Isin     Saliu Tunde Bello     Ibrahim Abikan     Public Holiday     Jelili Yusuf     Cornelius Adebayo     Elesie Of Esie     Iyeru Grammar School     Saka Asiat Ayinke     Ilorin Talaka Parapo (ITP)     Federal Polytechnic Offa     Funmilayo Oniwa     Bureau Of Lands     Kwara State Internal Revenue Service     Yusuf AbdulRasheed