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.

Ado Ibrahim     Ejidongari     Road Transport Employers Association Of Nigeria     Saliu Ajibola Ajia     Abubakar Aliagan     Bareke     Lanre Jimoh     Gwanara     Muhammadu Buhari     Bashiru Makama     Ganiyu Abolarin     Tunde Mukaila Mustapha     Ibrahim Abdullahi     Saadu Yusuf     JMK Construction Company Limited     Saadu Alanamu     TESCOM 2025     Kwara United     Christopher Ayeni     David Oyedepo     Y.A. Abdulkareem     Aminat Omodara     Fatimat Saliu     Isa Aremu     First Lady     Katibi Ibraheem Adeola     Yusuf Mubarak     Monthly Sanitation Exercise     ITP     Bello Abubakar     Bello John Olanrewaju     Mumini Ishola Hanafi     Mohammed Danjuma     Lawan     Abubakar Abdullahi Bata     Khairat Gwadabe     Trade Lenda SME Fair     Baba Isale     KWATMA     Ohoro Of Shao     Ajakaye     Adedipe     Issa Baba     Lawal Jimoh     Kwara State Coalition Of Business And Professional Associations     Tunde Idiagbon Road     John Olobayo     Muhammed Akanbi     Ibrahim Kayode Adeyemi     Federal Polytechnic Offa     Wahab Isa     Mumeen Lah     KWSIEC     AbdulRazaq AbduMajeed Alaro     Seed Technologies     Abdulrosheed Okiki     Reuben Paraje     KWSUED     Jalala     Hamidat Sulyman-Yusuf     Ndama Al-hassan     Rasaq Jimoh     Abikan     Esinniobiwa Quareeb     Sardauna Of Ilorin     Elerin Of Erin-Ile     Seun Bolaji     Pacify Labs     NYSC     Vasolar-Kwara Company Ltd     Sulyman Abdulkareem     Bayer Nigeria Limited     Sherif Shagaya     Boko Haram     Gbugbu International Market     Opolo Global Innovation Limited     Rasheed Jimoh    

Cloud Tag: What's trending

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

Abdulmajeed Wahab     Mohammed Yisa     Bio Ibrahim     CLAY POT     Vasolar     Ola Falade     Ajakaye     Shuaib Boni Aliyu     Elections     Abdulrazaq Magaji     KwaraLearn     Sayomi     Ilorin Talaka Parapo (ITP)     Abdulmutalib Shittu     Hijab     Kwara Restoration Project     Peculiar Allowance     Oloje     Kale Bayero     Babajide Ajayi     Kwara State Polytechnic     Inside Kwara     Bola Olukoju     Aliyu Kora-Sabi     Abdul Jimoh Mohammed     Kwara Primary Health Care Development Agency     Saidu Yaro Musa     Aremu Bose Deborah     Oko-Erin     Solomon Edojah     Abdulrasaq Alaro     Ophthalmological Society Of Nigeria     MATTA Girls Foundation     Kwara State Infrastructure Development Fund     Shero     New Model Police Station     Bareke     National Pilot     Ayotunde Emmanuel Alao     Special Adviser On Digital Innovation     Garuba Alikinla Shittu     Grillo     George Funsho Adebayo     Olabode George Towoju     AbdulRasaq Abdulmajeed Alaro     Clement Yomi Adeboye     Akanji     Sadiq Umar     United Nigeria Airline     Orire     Prince Sunday Fagbemi     Atunwa     Oke-Kura     Coronavirus     Charcoal     Suraj Tunji Oyewale     Owode Market     Nupe     Folashade Omoniyi     Government High School Adeta     Kwara State Football Association     Paul Odama     Malete     Iponrin     Savannah Centre For Diplomacy, Democracy And Development     Yinka Aluko     Irepodun     Yoruba     Peter Amogbonjaye     Awili Pedro     Bayo Ojo     Offa     George Innih     Kanu Agabi     Oluwole Dupe     Rasaq Jimoh     Aisha Ahman Pategi