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.

Ahmed Ayinla Jimoh     Hamidat Sulyman-Yusuf     Federal College Of Education (Special), Afon     Mufutau Gbadamosi Esuwoye     Oniyangi Kunle Sulaiman     Ahmed     Ilorin Airport     Valsolar Consortium     Abdulfatai Baakini     ANCOPPS     Tanke     College Of Education     Adeleke Ogungbe     Junior Secondary School Certificate Examinations     Ita-Ore     Shaykh Luqman Jimoh     Baba-Isale     Dasuki Belgore     Turaki     Hassan Oyeleke     KWASEIC     Mohammed Halidu     Yusuf Lanre Badmus     Salman Jawondo     ER-KANG Mining     Mohammed Khadijat Kubura     Aliyu Alhassan     Ahmed Idris Mohammed     Kwara Politics     Kanu Agabi     Usman Alkali Baba     Eleja Taiwo Banu     Tunde Kazeem     Abdulwaheed Musa     Omotoso     Niyi Osundare     Oloriegbe     Apaola     Lawal Arinola Kudirat     Abdulrazak Shehu Akorede     Ophthalmological Society Of Nigeria     Moshood Kashimawo Abiola     Ibikunle Ogunleye     Saka Keji     Government Girls’ Day Secondary School Pakata     CCT     Mamatu Abdullahi     Offa Descendants Union     Balogin Alanamu     Iqra Books     Olabanji Orilonishe     Adisa Logun     Saliu Mustapha     Ilorin Curfew     Abdulmalik Bashir Mopelola Risikatullahi     Bilikisu Oniyangi     Mohammed Yisa     Aminat Omodara     Bayer AG     Bisi Oyeleke     Olabode George Towoju     Rice Farmers Association Of Nigeria     Rotimi Atere     Shettima Of Ilorin     COEASU     Ahmed Shuaib Buranga     Suleiman Ajadi     Nigerian Correctional Service     Umaru Saro     Jawondo     Iyabo Adisa Ibiyeye     A.E. Afolabi     Salman Suleiman     Societe Generale Bank Of Nigeria     Shehu Raheem Adaramaja     Ariyo     Abdulsalam A. Yusuf    

Cloud Tag: What's trending

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

Gabriel Fashanu     N-Power     Fatimoh Lawal     Yusuf Abdulkadir     Aminu Adisa Logun     Nurudeen Mohammed     Abdulrasaq Alaro     Government High School Adeta     Paul Olawoore     Kwara Poly     Kayode Ibrahim     Bluenile Associates     Kwara State Pension Board     Abubakar Baba Sulaiman     Revenue Court     Yusuf Lanre Badmus     Ado Bayero     Bola Tinubu     Sodiya     Raliat Islamic Foundation     Salau Kabiru Abdullahi     Muhammad Yahya     Abraham Ojo     CELF     Idris Amosa Saidu     General Tunde Idiagbon International Airport     Erin-ile     Balogun Ajikobi     Musibau Akanji     Ebola     Amos Bajeh     Victor Gbenga Yusuf     Sulu Babaita Isiaka     Sulyman Age AbdulKareem     Balogun-Ojomu     Women Radio     Kwara State Fish Farmers Association     Bello Taoheed Abubakar     Henry Olaosebikan     Ilorin Emirate Staff Association     Sheikh Alimi     Akeem Lawal     Kwara State Printing And Publishing Corporation     Convocation Ceremonies     Kehinde Boyede     Igosun     Sunset Workers     Jeunkunu-Malete-Bani     Kwara United     Salmon Babatunde Salmon     Goodluck Jonathan     Muslimah Entrepreneurship Forum     Taofik Mustapha     Irepodun     Ishola Abdullahi     Ajase-Ipo     School Of Nursing     Lawan     Ayo Opadokun     Risikat Lawal     Lasiele Alabi Yahaya     ER-KANG Mining     Kola Shittu     Wahab Femi Agbaje     Ilorin Central Mosque     Gurei     Issa Oloruntogun     Arandun     National Broadcasting Commission     Jide Ashonibare     Kumbi Titiloye     Oro Grammar School Old Students Association     Olabode George Towoju     Oke-Oyi     Hamidu Olowo     Abdulrasheed Na\'Allah     Salman Suleiman