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.

Ita-Ore     AbdulRahman Saad     SWAN     Minister     Oke Sunna     Garba Ado Sanni     Baboko     Adeniyi Ojo     Lithium     Rabiu Kwankwaso     Sadiq Buhari     Kayode Yusuf     Ramat Oganija     Danladi     Saka Abimbola Isau     Maimunat Oloriegbe     Yusuf Abdulkadir     Nigerian Army     Shade Omoniyi     Siddiq Adebayo Idowu Salawu     Olusin Of Ijara Isin     Aiyedun     Folashade Omoniyi     Atunwa     Amuda Aluko     Gabriel Fashanu     Tuesday Assayomo     Markaz Arabic And Islamic Training Institute, Agege     Abikan     Toun Okewale-Sonaiya     Mohammed Saidu     Akanji     Al-Hikmah Radio     Mustapha Olanipekun     Hameed Oladipupo Ali     Damilola Yusuf Adelodun     Kwha.gov.ng     Aminat Ahmed     Oniyangi     Sherif Sagaya     Jeunkunu-Malete-Bani     Abraham Ojo     Waheed Ibrahim     Bayer Nigeria Limited     Arinola Lawal     Ibraheem Abdullateef     Ishola Balogun Fulani     Yunus Lawal     Kwara NIPR     Abdulrahman Abdullahi Kayode     Moses Rahman Popoola     NaAllah     Yusuf Arowosaye     Saraki     Funmilayo Isiaka Oniwa     Aliyu Kora Sabi     Umar Bayo Abdulwahab     Isin     Offorjama     Tsaragi/Share     Alimi     Suleiman Rotimi Iliasu     Kayode Zubair     Oloyede     Raymond Olaitan     Ileloke     Ibrahim Abiodun     Sulaiman Gado     James Ayeni     Pacify Labs     Press Release     Shururat Olatinwo     Simeon Sayomi     Habeeb Saidu     Centre For Peace And Strategic Studies     Kwara State Television (KWTV)     Olabimpe Olani    

Cloud Tag: What's trending

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

Just Law Forum     Kwara 2015     Galadima     Yusuf Ali     Abdulrazaq Adebayo     Yakubu Danladi     Micheal Imoudu     Raheem Adaramaja     Moses Salami     Abdulmumini Jawondo     Salami Adekunle     Raliat Elelu-Habeeb     Omoniyi     Tafida Of Kaiama     Kisra     Ronke Adeyemi     Eghe Igbinehin     Oke-Odo     Kwara Hotel     Peter Amogbonjaye     Ado Ibrahim     Kazeem Oladepo     Mohammed Tunde-Jimoh     EFCC     Onilorin     Iyaloja-General     Chief Imam Of Ilorin     Oke-Ero     Harafat E. Mukadam     Quareeb Islamic Association     Sidikat Akaje     Sherif Sagaya     Matthew Okedare     Abdulwasiu Bolaji Adeyi     Niyi Ogundiran     KWTV     Abatemi-Usman     Muslim Cementary     Magaji Are     Yahaya Abdulkareem Babaita     Oladipo Akanmu Tolani     Saliu Mustapha     National Broadcasting Commission     Olosi Of Osi     IHS Towers     IYA ALFA NLA     NaAllah     KwaraLearn     Nigerian Supreme Council For Islamic Affairs     Bayo Ojo     Garba Dogo     N-Power     Transition Implementation Committee     Abdulmumini AbdulRazaq     Umar Sanda Yusuf     Raji AbdulRasaq     Tosin Saraki     State Bureau Of Internal Revenue     James Kolo     Salaudeen Oyewale     Yetunde Balogun     Oniyangi     07039448763     SGBN     Apaokagi     Adolescent Girls Initiative For Learning And Empowerment     Nigerian Army     UNILORIN Alumni Association     Christopher Tunji Ayeni     Amule Elementary School     Lanwa     Muhammad Toyin Sanusi     Suleiman Idris     Okiki     Binta Abubakar Mora     Aremu Odolaye     Mufutau Olatinwo