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.

Lateef Ademola Olatunji     Akeem Olatunji     Olabimpe Olani     Umar Gunu     Bolakale Ayo     Valsolar Consortium     Christopher Tunji Ayeni     Basit Olatunji     Kale Ayo     Akanbi-Oke     Wahab Agbaje     Abraysports FC     Muslim Stakeholders Of Kwara State     Lateef Alagbonsi     Michael Imoudu National Institute For Labour Studies     Abraham Ojo     Olam Food Ingredients     Mufutau Gbadamosi Esuwoye     Saadu Yusuf     Shero     Mary Arinde     Haashim Initiative For Community Advancement     Abdulrazaq Akorede     Sanitation Exercise     Unicontinental Construction Company     Tunji Arosanyin     SUBEB     Charles Ibitoye     Ilorin Emirate Staff Association     Kishira     Ilorin South     Wahab Egbewole     Bayo Ajia     Ilorin Airport     Elesie Of Esie     Adolescent Girls Initiative For Learning And Empowerment     Ishaq Salman     Abdulwahab Oba     Abdulhakeem Adelaja Amao     Dauda Adeniran Adeshola     Marafan Shonga     Ijagbo     Shuaibu Yaman     Jide Ashonibare     Admiralty Villa     SDP     Binta Abubakar Mora     Olusin Of Ijara Isin     Ileloke     Iyabo Adisa Ibiyeye     Budo Egba     Folorunsho Erubu     Plat Technologies     Oba Abu     Alimi Abdulrazaq     IF-K     Erin-ile     Mustapha Olanipekun     Dunmade     Overland     Wahab Isa     Biliaminu Aliu     Kola Ologbondiyan     AIT Ilorin     Na\'Allah     Dagbalodo     Tanke     Diagnostic Centre     Chief Imam Of Omu-Aran     Transition Implementation Committee     Senate President     Arik     Teachers Specific Allowance     Ishaq Abdulkarim     Idi-Ape     Lola Olabayo     Bolaji Gambari    

Cloud Tag: What's trending

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

Kwara State Football Association     Dan Iya Of Ilorin     Bankole Omishore     Abubakar Lah     National Association Of Nigerian Students     Yoonus Lawal     Fareedah Dankaka     Centre For Community Empowerment And Poverty Eradication     Share/Tsaragi     COVID-19 Palliatives     Ajia-Bako     08001000100     Bello Abubakar     Rueben Parejo     Kolade Solagberu     Abdulkadir Orire     Bilikisu Gambari     Ahmed Alhasssan     Abdulquowiyu Olododo     Obayomi Azeez     Amusa Bello     Umar Adelodun     Abdulkadir Remi Hawawu     Fatimat Saliu     TIIDELab     Ilorin General Hospital     Lanwa     Sam Okaula     Hamza Usman     Ita-Nmo Market     Abatemi Usman     KWASSIP     Boko Haram     Samuel Adaramola     Baba Issa Awoye     Sulyman Age AbdulKareem     Salihu Ajibola Ajia     National Information Technology Development Agency     Jebba     Teachers Specific Allowance     Iyabo Dupe Adekeye     Apata Ajele Secondary School     Wale Oladepo     Afolabi-Oshatimehin Adenike Harriet     Oyawoye     Raliat AbdulRazaq     Sidikat Uthman Ajibola     New Naira Notes     Okin Malt     Ibrahim Taiwo     Government Girls’ Day Secondary School Pakata     Mike Omotosho     Magaji Nda     Abdulfatai Ahmed     Abdulwaheed Musa     Alao Ayotunde     Funmi Salau     Pategi     Elerinjare     Garba Idris Ajia     Saheed Popoola     Jaigbade Alao     Niyi Ogundiran     Ibrahim Labaika     Saba Jibril     Nnazua     Isin     Alumni Association Of The Federal Polytechnic Offa     Mubarak Oladosu     Sulyman Atolagbe Alege     Tope Daramola     Maigidasanma     Bureau Of Lands     Lanre Badmas     Ita-Ore     Opaleke Bukola Iyabo     Onilorin Of Ilorin