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.
Olayinka Olaogun Ibrahim Oniye Oju Ekun Sarumi Oko-Olowo Presidential Election Shehu Alimi Foundation For Peace And Development Curfew Kannike Asiwaju Bola Tinubu Olatunji Ibrahim Saka Abimbola Isau Bisi Kristien NULGE Ben Duntoye Al-Hikmah University Tunji Ajanaku GRA Public Holiday Abdulwahab Oba Abdulrahman Abdulrasak Centre For Community Empowerment And Poverty Eradication Bello Bature KWASSIP Olusegun Adeniyi Modibbo Kawu Salmon Babatunde Salmon Taofik Abdulkareem Yusuf Amuda Abubakar QuickWin Ayinde Oyepitan Dumagi Share/Tsaragi Moses Afolayan Amusement Park Afolayan Kwara Coalition Of Business And Professional Associations Aliyu Muhammad Saifudeen Bature Bello HYPPADEC Quranic Recitation Competition Kwha.gov.ng HAMFAT Clinic And Maternity NYSC Naira Redesign Bola Olukoju Lucky Omoluwa Yahya Mohammed Mopelola Abdulmaliq-Bashir Adamu B. Yaqubu Isiaka Rafiu Mope Akanbi-Oke Wole Oke Zubair Folorunsho Erubu Halimat Yusuf Alapansapa Kaiama SGBN Shehu Salau Habeeb Saidu Jelili Yusuf KWATMA Omoniyi Ayinla Taofeeq Olateju Junior Secondary School Certificate Examinations Mutawali Col. Adedipe Freshvine Nigeria Limited Javed Khan Ahmad Uthman Sobi Segun Olawoyin Gobir Organization Foundation Amada Jidda Mustapha Akanbi Barakat Community Secondary School Abdulkareem Alabi Albert Ogunsola

