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.

A.G.F Abdulrasaq     Kunle Okeowo     Ajasse-Ipo     Ilorin Like-Minds     Countryside Emerging Leaders Fellowship     Olofa Of Offa     Bello John Olanrewaju     Hikmah AbdulKareem     Marufat Oladosu     Assayomo     A.O. Belgore     Albert Ogunsola     Haleeman Salman     Abdulrazaq Adebayo     Kassim Babamale     Logun     Abdulrosheed Okiki     Raji AbdulRasaq     Olam Food Ingredients     Opolo Global Innovation Limited     Ramat Oganija     HYPPADEC     Islamic Development Bank     Kolade Solagberu     Towobola Abdulrahman Toyin     Innocent Okoye     Curfew     Zulkifli Ibraheem     Toyin Saraki     Temitope Ogunbanke     Okin Group     Mansurat Amuda-Kannike     Olatunde Olukoya     Femtech     Abdulrahman Onikijipa     Toyin Falola     Okin Malt     Suleiman Idris     Solomon Edoja     NaAllah     Paul Odama     Ahmed Idris Mohammed     Bola Ahmed Tinubu     Owu Fall     Charles Ibitoye     Kwara State Television (KWTV)     Eleja Taiwo Banu     FOMWAN     Mohammed Katsina Ahmed     Wahab Issa     Habeeb Abdullahi Al-Ilory     Kwara State Pension Board     Ita-Nmo Market     Abdul Jimoh Mohammed     Ilorin South     Salaudeen Oyewale     Olaiya Victor Mobolaji     Odo-Owa     Ayinde Oki     Okala Baba     Sobi FM     Muslim Stakeholders Of Kwara State     Jide Ashonibare     Sabi     Lanre Aremu     Ayedun     TESCOM     College Of Education     Alaro     March 28     David Adesina     Ajase-Ipo     Dar-Al-Handasah Consultants     Ali Ahmad     Rueben Parejo     Laboratory-to-Product     Dairo Kunle Paul    

Cloud Tag: What's trending

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

UNILORIN Alumni Association     Academic Staff Union Of Universities     Maryam Ado Bayero     Bisi Kristien     Tsaragi/Share     Saad Omo Iya     Saadatu Modibbo-Kawu     Crystal Corner Shops     Abdulrazaq Akorede     Elerin Of Erin-Ile     Roseline Oni Aremu     Col. Taiwo     Issa Oloruntogun     Sulyman Tejidini     Zubair Folorunsho Erubu     Yoonus Kola Olatinwo     KWAFFA     Saraki     Arik     Amosa     Zaratu Umar     Park     Elekoyangan     Abdul Jimoh Mohammed     Owu Fall     AbdulGafar Tosho     Baakini     Idris Amosa Saidu     Onilu     Mohammed Saidu     Saka Isau     Akanbi-Oke     Kayode Zubair     Sambo Murtala     Balogin Alanamu     Gbemisola Saraki     Funmilayo Mohammed     Ahmad Fatima Bisola     Ahmad Olanrewaju Belgore     AIT Ilorin     National Broadcasting Commission     Kwara Restoration Project     Aliyu Muhammed     Yusuf Amuda Aluko     Shero     Alfa Yahaya Road     Adebayo Salami     Binta Sulyman     Emir Of Yashikira     Tsaragi     Mohammed Ghali Alaaya     Saliu Ajia     Arinola Lawal     Ayobola Ipinlaiye     Olatunde Oyeyiola     Charles Ibitoye     Muhammed Danjuma     Trader Moni     Bayo Ajia     Iyiola Oyedepo     Y.A. Abdulkareem     Ibrahim Issa Jetti     Ahmed Dankaya     Hussein Olokooba     Yekeen Alabi     M.Y. Abdulrahaman     BECE     Arca Santa     Durosinlohun Atiku     Moro     Kolade Solagberu     Omoniyi Ayinla     Moses Afolayan     Yoonus Lawal     Hassan Saliu     Abdulwasiu Bolaji Adeyi     Oke-opin