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.
Orisun Igbomina Abdulrahman Iliasu Ayobola Ipinlaiye Yahaya Seriki Gambari Muftau Akanbi Oke Binta Abubakar-Mora Code Of Conduct YAKOOYO Colleges Of Education Academic Staff Union KWAFFA Prince Sunday Fagbemi Paul Odama Clara Nwachukwu Abdulmumin Yinka Ajia Principal Private Secretary Junior Secondary School Certificate Examinations Elerinjare-Ibobo Hamid Bobboyi Kwara State Polytechnic Olusin Of Ijara Isin Apado Quareeb Abdulkadri Ahmad Alaiye Forgo Battery Company Limited Mazars Consulting Omar Bolaji Gambari National Association Of Nigerian Students Umar Ahmed Gunu Kwara Basketball Association Grillo Olabanji Orilonishe Salary Issa Memunat Moyosore Dasuki Belgore Oloyede Yusuf Lanre Badmas Paul Olawoore SSUCOEN Rotimi Oyedepo Aremu Odolaye Seed Technologies Saad Omo Iya Michael Nzekwe Medview Airlines Akeem Olatunji Abubakar Usman Jos Cassava Growers\' Association Ilorin South Constituency Coronavirus Sherif Shagaya Abioye Bello Isiaka AbdulRazaq Abiodun Jacob Ajiboye Abubakar Olusola Saraki Ita-Ore Ayoade Akinnibosun Abdulwasiu Bolaji Adeyi HICA Oko-Olowo Council Of The Wise Hydroelectric Power Producing Areas Development Commission Barakat Community Secondary School Sobi FM Amos Sayo Abdulrasaq Alaro Shaykh Luqman Jimoh Adesoye David Oyerinola Adedunmoye Kwara State Internal Revenue Service Olabode Towoju HAMFAT Clinic And Maternity Oke-Kura Muhammad Akande Olarewaju Odunade Maryam Nurudeen Tsaragi-Share Sanitation Exercise Code Of Conduct Bureau

