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.

Revenue Court     Mujtabah Bature     Wale Oladepo     Olumide Daniel Ibitoye     Raymond Olaitan     Ishola Abdullahi     Charcoal     Kwara State Government     Pius Abioje     Mopelola Abdulmaliq-Bashir     Col. Adedipe     SSA Youth     Emir Of Ilorin     Jeunkunu-Malete-Bani     Arinola Lawal     Saeedat Aliyu     Abdulmumin Yinka Ajia     Yusuf Amuda Abubakar     Makama Of Ilorin     IFK     Saad Omo\'ya     Pakata     Azeez Salawu     Funmi Salau     Olugbense     Owode Market     Damilola Yusuf     Communication Network Support Services     Saheed Popoola     Towobola Abdulrahman Toyin     Kwara 2023     Monthly Sanitation Exercise     Kaiama     Bukola Ajikobi     Admiralty Villa     Taofeek Sanusi     Tanke Road     Bamidele Aluko     Pakata Development Association     CKNG     Omoniyi Ayinla     Quareeb     Share-Tsaragi     Kwara State Internal Revenue Service     Micheal Imodu-Ganmo Road     Tafida     AbdulGaniyu Kareem     ARMTI     Kwha.gov.ng     Sheikh Ridhwanullah     Obayomi Azeez     Monkey Pox     CCEPE     Afetu Of Alabe     Press Release     Aasiyat Bello Oyedepo     Jumoke Gafar     Muslim Media Watch Group Of Nigeria     Mohammed Lawal Bagega     Ilorin Emirate Staff Association     Muhammadu Gobir     Niguel Gallando Marcias     Otuka     Ibrahim Abikan     Ahmed     Yusuf Babatunde Abdulwahab     Ilorin Metro Park     Association Of Kwara State Online Media Practitioners     ITP     Christopher Odetunde     Yahaya A Paniyaro     Oro Grammar School     Ishola Moses Abiodun     Code Of Conduct Tribunal     Irepodun     Hassan Taiye Salam     Jamila Bio Ibrahim    

Cloud Tag: What's trending

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

Yusuf AbdulRasheed     Unilorin FM     KWIRS     Alumni Association Of The Federal Polytechnic Offa     Suleiman Rotimi Iliasu     All Confederation Of Principals Of Secondary Schools     Tsado Manman     Dapo Teni Nig Enterprise     Budo-Egba     Albert Ogunsola     Ekweremadu     TIC     Alaro     Musa Aibinu     Laboratory-to-Product     Valsolar-Kwara Company Limited     Jebba     Muhammad Ghali Alaaya     Mashood Abdulrafiu Agboola     Joseph Bamigboye     Salihu S. Yaru     NULGE     General Tunde Idiagbon International Airport Ilorin     Adedayo Yusuf Abdulkareem     Ahmed \'Lateef     Facebook     Kassim Babamale     Lukman Adeloyin     Michael Ologundea     Just Event Online     20 Billion Bond     Abdulmumin Yinka Ajia     Toun Okewale-Sonaiya     Congress For National Consensus     Simeon Sayomi     T And K FOODS     Sai Kayi     Yakubu Shaaba     Gabriel Fashanu     Florence Saraki     Abdullahi Biffo     Tuesday Assayomo     Babatunde Ishola Babaita     Muideen Olaniyi Alalade     Olumide Daniel Ibitoye     Bola Iyabo Ibiyeye Adisa     AbdulKareem Yusuf Danhawa     Orire     Ahmad Uthman     Ebola     Muhammed Mahe Abdulkadir     Sheu Ndanusa Usman     Umaru Saro     Bello Oyebanji     Magaji Nda     Alanamu     Volunteers Of Ilorin Community And The Emirate     Moses Adekanye     Sola Saraki University     Road Transport Employers Association Of Nigeria     Amule     Saadu Alanamu     COVID-19 Palliatives     Sa\'ad Alanamu     Public Holiday     Emmanuel Olatunji Adesoye     Moro     Baba Issa Awoye     Muhammad-Mustapha Suleiman     Umar Yakubu Jaja     Abdulwahab Olarewaju Issa     Olusin Of Ijara Isin     Air Peace     Kwarareports     Maimunat Oloriegbe     Abikan     Oba David Oyerinola Adedunmoye