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.
March 28 Aisha Ahman Pategi Rueben Parejo Aliyu Umar Demola Banu Mohammed Danjuma Abdulkareem Alabi HAMFAT Clinic And Maternity Halimah Perogi Idris Amosa Saidu Gobirawa Share-Tsaragi Akom Construction And Engineering Synergy Ltd Mustapha AbdulGaniyu Government Girls’ Day Secondary School Pakata Sunday Otokiti Afolabi-Oshatimehin Adenike Harriet Colleges Of Education Academic Staff Union Zainab Abass Sabi Split Diamond Interchange Yaman Obuh Ekweremadu Adamu B. Yaqubu Dele Momodu TESCOM 2025 Abubakar Abdullahi Bata Garba Ayodele Wahab Oba-Solagberu Babaloja-General Lai Mohammed Kale Belgore Budo-Egba Olatunji Ayeni Arinola Fatimoh Lawal Buari Edun Abatemi-Usman Prince Sunday Fagbemi Awodun Sulyman Atolagbe Alege Saidu Yaro Musa Okedare Toyin Falola Mohammed Ajia Ibrahim MINILS SARS April 11 Abdullahi G. Mohammad Rasaq Jimoh Kwara Basketball Association Shuaib Jawondo Okin High School Nigerian Army Yaru Florence Saraki Abdulazeez Arowona Oni Adebayo Muhammad Yahya Plat Technologies Limited Bamidele Adegoke Ethical College Oniye Isaac Gbenle Gbemisola Saraki Iyiola Oyedepo Ileloke Lawan Yomi Adeboye Funke Adedoyin Shuaib Boni Aliyu Omu-aran Amina El-Imam Igbaja Oba Abdulraheem Ashiru Balogin Alanamu

