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.
Alfa Yahaya Road Sobi Hill Muhammadu Buhari Abegunde Goke Kwara State Television (KWTV) David Oyerinola Adedunmoye Ethical College Razak Atunwa Rotimi Samuel Olujide Bayer AG Aishat Mohammed Lawal Muazam Nayaya Rihanat Ajia Ajayi Okasanmi Kolade Solagberu Nigeria Customs Service Abdulrahman Abdulrasak Sulu Gambari Bello Taoheed Abubakar Sarakite Kayode Oyin Zubair Baruba Yakubu Dogara Jaigbade Alao Shaykh Luqman Jimoh Just Event Online Abdulbaqi Jimoh Muhammad-Mustapha Suleiman Yahaya Abdulkareem Babaita Fatai Adeniyi Garba Samari JUSUN Raliat AbdulRazaq Dauda Adeniran Adeshola Kwara State Pension Board Kayode Bankole Yusuf Ali National Party Of Nigeria Abdulkarim Adisa Tayo Awodiji Akom Construction And Engineering Synergy Ltd Kanu Agabi Kisra Sa\'adu Salau Ekweremadu Bursary Yoonus Kola Olatinwo KWASSIP Oya State Niyi Osundare Raimi Iyanda S.O. Opowoye Ayekale Lawal Arinola Kudirat Sherif Sagaya Abdulganiyu Oladosu Olaiya Victor Mobolaji Dauda Adesola Bolakale Ayo Press Release Shoprite Kwara Primary Health Care Development Agency Sabo-Oke Simon Sayomi Shonga Olajumoke Monsura Gafar Raymond Olaitan Akanbi-Oke Suleiman Idris Isiaka Gold Micheal Imodu-Ganmo Road Maryam Ado Bayero Saka Aleshinloye Ndakene Amule Elementary School Abdulmumini AbdulRazaq Dan Iya

