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.

Katibi Ibraheem Adeola     Goodluck Jonathan     Ambassador Kayode Laro     Iyabo Dupe Adekeye     Nnazua     Dan Iya Of Ilorin     Aisha Ahman Pategi     Musbau A. Akanji     David Oyedepo     Ola Falade     High Court     Tsaragi/Share     Doyin Group     Gaa Olobi     David Oyepinola Adedumoye     Kwara State Fire Service     Tanke Road     Yahaya Abdulkareem     Ahman Patigi     Abatemi-Usman     Ayobola Ipinlaiye     Ilorin Amusement Park     PharmAccess Foundation     SDP     NIPR     TESCOM 2025     Savannah Centre For Diplomacy, Democracy And Development     Hikmah AbdulKareem     Adeniyi Ojo     Mohammed Tunde-Jimoh     Oluronke Adeyemi     Sanitation Exercise     Mike Omotosho     Kwara State Internal Revenue Service     Offa Metropolitan Club     Bello Abubakar     Sebastine Obasi     Sanusi Abubakar     Lanre Badmas     Wahab Olasupo Egbewole     Oloruntoyosi Thomas     Lucky Omoluwa     AbdulQowiy Olododo     Issa Oloruntogun     Abdulmumini Jawondo     Mohammed Ghali Alaaya     Azeez Bello     Kubra Kazum     Baakini     Elerin Of Erin-Ile     Bashir Badawi     Rabiu Kwankwaso     Hydroelectric Power Producing Areas Development Commission     Khairat Gwadabe     Ilorin Muslim Community     Iliasu     Convocation Ceremonies     Bello Oyebanji     Apado     Toyin Falola     Rebecca Olanrewaju     Jawondo     Assayomo     Kayode Laro     Alanamu     Mahe Abdulkadir     Joseph Offorjama     Dumagi     ASMAU PLAZA     Sa\'ad Alanamu     Waheed Ibrahim     Bareke     Donatus Ejidike     Shuaibu Yaman     Shettima Of Ilorin     A.G.F Abdulrasaq     Jamiu Oyawoye    

Cloud Tag: What's trending

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

Olanrewju Okanlawon Musa     Sobi FM     Revenue Court     Harrison Osauwagboe     Bureau Of Lands     Oke-Ode     KWIRS     Ilorin West     Alimi     Jalala     National Broadcasting Commission     Shuaibu Yaman Abdullahi     Busari Toyin Isiaka     Ahmed Shuaib Buranga     Rachael Obisesan     Gbenga Awoyale     Oba Abdulkadir La\'aro     Aminat Omodara     Wakilin Mata Lafiagi     Turaki     Air Peace     Olaiya Zuberu     Katibi Ibraheem Adeola     Labaeka     Rafiu Ajakaye     Ijakadi     General Tunde Idiagbon International Airport     Tayo Awodiji     Adaramaja     Nigerian Supreme Council For Islamic Affairs     Kale Belgore     Kayode Yusuf     Mohammed Ghali Alaaya     Frootify     Yusuf Ibitokun Sherifat     Okedare     Umar Adelodun     Mohammed Haruna     Abdulfatai Salman Baakini     Erin-ile     Lukman Adeloyin     Adijat Adebiyi     Gbenga Olawepo     Yashikira     Apata Ajele Secondary School     Bayer Nigeria Limited     Kwara 2015     Sarah Jubril     Shuaibu Yaman     Omotosho     Omotoso     Sanitation Exercise     Bello Oyedepo     Bayo Ojo     Funmilayo Mohammed     Yakubu Shaaba     Durbar     Alumni Association Of The Federal Polytechnic Offa     Ahmad Belgore     Monkey Pox     Sulaiman Gado     First Lady     Abdulkarim Adisa     SUBEB     Alapansapa     Sola Saraki Educational Foundation     Hydro-electric Power Producing Areas Development Commission     Ahmed     Muhammad Toyin Sanusi     Dogara     Kwara Apc     Ebola     Sango-UITH Road     Ibrahim Issa Jetti     Opobiyi     Ramadhan     NIPR