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.

Oba Sulaiman Asude     Samari     Tosin Saraki     Ilorin Talaka Parapo     Muftau Akanbi Oke     Ado Ibrahim     Aliyu Alhassan     Oluronke Adeyemi     NULGE     Olabanji Orilonishe     Twitter     Saliu Mustapha     PAACO-PCL Consortium     Ahmad Olanrewaju Belgore     Afolayan     Muslim Stakeholders Of Kwara State     Imam Gambari     Aminu Adisa Logun     Muhammad Ghali Alaaya     Garment Factory     Jumoke F. Ajao     Durbar Festival     Habeeb Abdullahi Al-Ilory     Amuda Bembe     Tuesday Assayomo     Sango-UITH Road     Ayinde Oki     SSA Youth Engagement     Mogaji Aare     Admiralty Villa     Jare Olatundun     Press Release     Makama     Post Utme     Ghali Muhammed     Ajayi Okasanmi     Abdulrazaq Aiyelabegan     Federal Polytechnic Offa     Shehu Salau     Ibrahim Sulu Gambari     Sidikat Alaya     Alapansapa     Boko Haram     Samuel Olusegun Adedayo     Mohammed Halidu     Doyin Group     Kannike     All Confederation Of Principals Of Secondary Schools     Raji Ayodele Kamaldeen     Ganmo Electricity Sub-Station     Asa LGEA School     Dauda Adeniran Adeshola     08001000100     Esuwoye     IPSAS     Kayode Ogunlowo     KWSIEC     Muhammad Mustapha Suleiman     Falokun-Oja     Medview Airlines     Maryam A. Garuba     Olomu     Garba Ado Sanni     Muhammed Akanbi     Folashade Omoniyi     Universal Basic Education Commission     Hamidat Sulyman-Yusuf     Balogun Fulani     TVC Female National Debate     Orisa Bridge     Joshua Adeyemi Adimula     Ahmed Dankaya     Atiku     Tunde Akanbi     Aminu Ado Bayero     Idofin     Dunmade    

Cloud Tag: What's trending

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

Chikanda     Clara Nwachukwu     Gobir     Funmilayo Zubair     Binta Abubakar Mora     Kale Kawu     Sheriff Shagaya     Christopher Ayeni     Ibrahim Kayode Adeyemi     Madawaki     Doyin Agbamu     Cassava Growers\' Association     Elerinjare     Gbadeyan Gbadura Yomi     Ilorin Amusement Park     Alikinla     Justina Oha     Chief Imam Of Omu-Aran     Gobir Organization Foundation     Idris Garuba     Obasanjo     Ayobami Akanbi     Kwara United     Kwara State Television     Sulyman Buhari     Wahab Olasupo Egbewole     Dan Masanin     Toyin Saraki     Mohammed Ibrahim     Sa\'adu Salau     Alliance For Democracy     Baba Issa Awoye     Kwara-SAPZ Project     Sardauna Of Ilorin     Ibrahim Gambari     Sabi     Chief Of Staff     Garba Dogo     Kwara 2015     Abdulazeez Arowona     Abdul Jimoh Mohammed     Amule Elementary School     Bolaji Abdullahi     Saeedat Aliyu     Mahee Abdulkadir     Baba Adini Of Kwara State     Baba Idris     Adesoye     Yusuf Amuda Abubakar     Olayinka Olaogun     Oni Adebayo     Abiodun Musa Aibinu     Kola Adesina     Col. Ibrahim Taiwo     Albert Ogunsola     CACOVID     Kwarareports     Olukotun Of Ikotun     Sabo-Oke     Oke Sunna     Kwara State Television (KWTV)     Olayinka Oladapo Jogunola     Abdullah Janet Amudat     Idofin     Olajumoke Monsura Gafar     Hydro-electric Power Producing Areas Development Commission     Khairat Gwadabe     Kwara State Polytechnic     Toyin Falola     CCT     Lawyers Unite Against Corruption     Kunbi Titiloye     MMWG     Wasiu Onidugbe     GAMA     Salihu Alhaji Musa     Olatunde Jare