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.
Shagari Sulu Gambari Yusuf AbdulRasheed Samuel Adaramola Kwara Oko Erin Valsolar Consultoria Babaita Funke Adedoyin Mahmud Babatunde Baker Kabir Shagaya Aliyu U. Tilde Chartered Institute Of Personnel Management Of Nigeria Abdulrasheed Akogun Ike Ekweremadu Third Estate Face Masks Student Learning Support Helpline Isiaka Gold Aremu Odolaye Agor Oko Ibraheem Adeola Katibi Ojo Fadumila Oba Sulaiman Asude Majlis For Sadaqah, Zakat And Waqf Durosinlohun Kawu Matthew Babaoye Bello Abubakar Ayo Salami Tinubu Abdul Jimoh Mohammed JAMB James Kolo Tunji Ajanaku Abdulraheem Yusuf Ibrahim Orire Moses Salami Abdulrazaq Solihudeen Ibrahim Gambari NIRSAL Olaitan Adefila Abdul-Rahoof Bello Just Event Online Ope Saraki Ilorin Durbar Olawuyi David Oyepinola Adedumoye Oko-Erin Adewuyi Funmilayo Christopher Tunji Ayeni Busari Alabi Alausa Jimoh Olusola Imam Ita-Ore Olota Of Odo-Owa Adijat Adebiyi Grillo Lithium Ilorin Emirate Staff Association Manzuma Adeola Abraham Magaji Erubu Okin Biscuit Abiodun Oyedepo Abraysports FC Oju Ekun Sarumi Suleiman Ajadi Ibrahim Akaje Congress For National Consensus Saadu Alanamu Ilofa Mamatu Abdullahi Kwara Polytechnic Summit University Gwanara Sabi Sarakite

