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.

Babatunde Idiagbon     Garba Ayodele Wahab     Ibrahim Sulu Gambari     Emir Of Lafiagi     Aishat Sulu-Gambari     Jumoke Gafar     Kale Bayero     Idiagbon     Gurei     Bola Shagaya     Wahab Issa     UITH     Saidu Yaro Musa     Aisha Ahman-Pategi     Afolabi-Oshatimehin Adenike Harriet     Abdulrahman Abdulrasaq     Abdul-Rasheed Na\'Allah     Amusement Park     Olayinka Olaogun     Elerinjare     Toyin Abdullahi     Madawaki     Kwara NIPR     Abubakar Kawu Baraje     Budo-Egba     Musbau A. Akanji     JAMB     Apata Ajele Secondary School     Abdulsalam Firdaous Amosa     Chief Of Staff     Mahe Abdulkadir     Hussein Oloyede     Abdulrasheed Na\'Allah     Bola Magaji     Afolayan     Ishak Mohammed Sabi     Crystal Corner Shops     Undergraduate Bursary     Atiku Abubakar     Shuaibu Yaman Abdullahi     Doyin Agbamu     GANZY     Rafiu Ibrahim     Abdullahi AbdulMajeed     Shero     Umar Gunu     Tosin Saraki     Elerin Of Adanla Irese     Yakubu Danladi     Bank Of Industry     Umar Ahmed Gunu     Clara Nwachukwu     Fatimat Saliu     Amuda Aluko     Muslim Cementary     Yaru     Chief Imam Of Omu-Aran     Taofik Abdulkareem Babaita     Ayobola Ipinlaiye     Micheal Imodu-Ganmo Road     NIPOGA     Tsaragi/Share     Nigeria Computer Society     AbdulRaheem Ahmad Shayi     Balogun Fulani     Sarkin Malamai     Ibrahim Taiwo Road     Simeon Ajibola     Baba Isale     Fatimoh Lawal     3MTT     Wahab Femi Agbaje     Ayoade Akinnibosun     Okin Group     Saduki Lafiagi     Halidu Danbaba     Towoju    

Cloud Tag: What's trending

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

Kwara 2019     Agor     Isin     Kwara Liberation Group     Erubu Oba Zubair     Muhammed Mahe Abdulkadir     Ramat Oganija     Monthly Sanitation     Justina Oha     Kwara Volleyball Association     Salau Kabiru Abdullahi     Yusuf A. Usman     Presidential Election     Abdulsalam A. Yusuf     Press Release     Zulkifli Ibraheem     Abubakar Abdullahi Bata     Magaji Nda     Lawyers Unite Against Corruption     Ilorin East     Shaykh Luqman Jimoh     Public Holiday     Abdulrahman Abdullahi Kayode     Sulyman Tejidini     Lateef Ademola Olatunji     EFCC     Vasolar Consortium     Convocation Ceremonies     Lafia Aliyu Korasabi     Olayinka Are     Modupe Oluwole     Okoolowo     Abdulrauf Aliyu     Ayotunde Emmanuel Alao     Baaziki Sulaiman     Bilikis Oladimeji     Onilorin Of Ilorin     Oniye     Moses Salami     Wahab Agbaje     Sarah Jubril     Tunji Moronfoye     Afonja     TIIDELab     Tricycle Owners Association Of Nigeria     Abdulmumini AbdulRazaq     Umar Ayinla Saro     Ilesha-Gwanara     KWASAA     Ramadan     Olatunji Ayeni     Umar Ahmed Gunu     Olupako Of Share     Alikinla     Garment Factory     Ajikobi     Yahaya Jibril Usman     Share-Tsaragi     Femi Ogunsola     Ilorin     Ayodele Shittu     Alimi     Lanre Badmas     Olabode Towoju     Wasiu Onidugbe     Sheikh Ridhwanullah     CCT     Raliat Elelu-Habeeb     Ayedun     Post-utme     Gambari     Ibrahim Kayode Adeyemi     Yusuf Olaolu Ali     Muazam Nayaya     Isiaka Yusuf     Bayo Onimago     Modibo Kawu