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.

Ayegbeni     NITDA     Bashir Adigun     Prince Mahe Abdulkadir     Idowu Aremu     Amina Susa\'a De Ahmed     Mohammed Yahaya Barki     PharmAccess Foundation     Ilorin Descendants Progressive Union     Isiaka Saka Opobiyi     Adeola Abraham     Dan Iya     Razaq Ayobami Akanbi     Salihu Ajia     Shehu Jimoh     Owode Market     Amos Sayo     Justina Oha     Afolasade Opeyemi Kemi     Al-Hikmah Radio     Umaru Saro     Oyun     Oluronke Adeyemi     Baba-Isale     ASUU     Raymond Olaitan     AGF Abdulrazaq     EndSARS     Belgore     Abdulmutalib Shittu     Harafat E. Mukadam     Kwara TV     Ramadhan     T And K FOODS     Abdulraheem Yusuf     Fatimoh Lawal     Shehu Alimi Foundation     Siddiq Adebayo Idowu Salawu     Revenue Court     Gbenga Adebayo     Abikan     Council Of The Wise     Lafiagi     Wakilin Mata Lafiagi     Micheal Imoudu     LABTOP     Oluwarotimi Boluwatife Adenike     Pius Abioje     Mike Omotosho     Agbarere     Yusuf Ibitokun Sherifat     Ejidongari     Kassim Babamale     National Pilot     Tunde Yusuf     Okin Biscuit     Ayo Opadokun     JAAC     Kunbi Titiloye     Abdullahi Imam Abdullahi     Muhammad Fawaz Abubakar     Kwara State Coalition Of Business And Professional Associations     Esinrogunjo     Funmilayo Mohammed     Isiaka AbdulRazaq     Abdulhakeem Adelaja Amao     Shoprite     IYA ALFA NLA     Mahmud Ajeigbe     Hussein Oloyede     Yahaya Seriki     Ola Falade     Solomon Edoja     Yusuf Abdulraheem     Segun Ogunsola     Nagode     A.E. Afolabi    

Cloud Tag: What's trending

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

Iyabo Adisa Ibiyeye     Abdulrasaq Alaro     IYA YUSUF     Budo-Egba     ENetSuD     Sunday Popo-Ola     Madawaki     Rafiu Ajakaye     KWATMA     Kwara 2019     Harmony Holdings     Trader Moni     Mohammed Tunde-Jimoh     Arik     EndSARS     Dogara     JAMB     Abdulmumini Jawondo     Agboola Abdulraheem     Abdulsalam Firdaous Amosa     Asa     Alumni Association Of The Federal Polytechnic Offa     Government High School Adeta     Alaaya     KWASIEC     Aishat Sulu-Gambari     FOMWAN     Funmilayo Isiaka Oniwa     National Broadcasting Commission     Local Government     Ayinke Saka     Okanlawon Taiwo     BIR     Abraham Ojo     KWTV     Kwara State Fish Farmers Association     Bayo Ojo     Ile Arugbo     Afonja Descendants Union     Plat Technologies Limited     Kayode Issa     Markaz Arabic And Islamic Training Institute, Agege     Yusuf A. Usman     Jeunkunu-Malete-Bani     Kamaldeen Gambari     Kwara State Government     Al-Hikmah Radio     Muhammad Akande Olarewaju Odunade     Oyun     Illyasu Abdullahi     Dankaka     TIC     IHS     Salami Adekunle     Towoju     Mohammed Jimoh Faworaja     Tosho Yaqub     Wahab Olasupo Egbewole     Omoniyi Ayinla     Babajide Ajayi     JSSCE     Mahee Abdulkadir     Federal Road Maintenance Agency     Abdullahi Imam Abdullahi     Sardauna Of Ilorin     Pilgrims Board     Olusola Saraki     Ibrahim Taiwo Road     Bola Tinubu     Yoonus Lawal     Ahmad Olanrewaju Belgore     Isin     Opolo Global Innovation Limited     Kwara University Of Education     Jimba Babatunde     Adesoye College     Sadiq Buhari