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.
Onilorin Of Ilorin Smart School Tinubu Legacy Forum Sarakite Sanitation Exercise Doyin Group Abdulwasiu Bolaji Adeyi SARS Jamiu Oyawoye SDP Adanla-Irese Olaitan Buraimoh A.O. Belgore Funmilayo Oniwa Iponrin Hussein Oloyede Salihu Ajibola Ajia Galadiman Ngeri Oniye Bukola Ajikobi Federal Allocation National Broadcasting Commission Abdulkadir Remi Hawawu AbdulRazaq Jiddah Kwara Pdp Titus Ashaolu Segun Abifarin Kisira Ilorin Jebba Abubakar Olusola Saraki Oya State Erubu Oba Zubair Amusa Bello General Tunde Idiagbon International Airport Ilorin Ajuloopin Rabiu Kwankwaso Lanre Olosunde Christian Association Of Nigeria Igbaja Salman Alada Tunde Saad Abioye Bello C2c@kwarastate.gov.ng Abdulrazaq Sanni Ganmo JAMB Ibrahim Jawondo Muslimah Entrepreneurship Forum Saheed Akinwumi Orire Folashade Omoniyi Lateef Ademola Olatunji Gambari Kanu Agabi Oladipo Akanmu Tolani Chief Imam Of Ilorin Shero Magaji Erubu Amos Sayo Just Law Forum Hussein Olokooba Rasaq Jimoh MAI Akande Jelili Yusuf Kamoru Kadiri Salihu S. Yaru Sambo Murtala Fatai Adeniyi Garba Abdulfatah Ahmed Ndakene Ilorin East/South Federal Constituency College Of Education Oniwasi Agbaye Afonja John Dara Folajimi Aleshinloye

