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.
Mary Arinde Chief Imam Of Lafiagi Gbenga Awoyale Kwasu Ahmed Alhasssan Rihanat Ajia Gbugbu Ajikobi Mutawali Abdulrazaq Sanni Barakat Community Secondary School Offorjama NURTW KWATMA Olofa Of Offa Ahman Pategi University Oyun Bio Ibrahim Yusuf Olaolu Ali Bashirat Bola Bello Ilorin South Ifelodun S.O. Opowoye Ibikunle Ogunleye Agbarere Ayo Salami Sunday Otokiti Jebba Okanlawon Taiwo Elerin Of Adanla Kunbi Titiloye Gbemi Saraki George Funsho Adebayo Suleiman Mora Omar Radio SBS Vasolar Ilorin East/South Federal Constituency Harrison Osauwagboe Suleiman Rotimi Iliasu Mohammed Tunde-Jimoh IEDPU George Innih Arik Toun Okewale-Sonaiya KWSIEC Ramat Oganija Ahmed Shuaib Buranga Taofik Abdulkareem Edu Lawal Jimoh Galland Marcias Yusuf Amuda Aluko Yusuf Ibitokun Sherifat Abdulfatai Salman Baakini Bluenile Associates Ariyo KWSUED Tafida Of Ilorin Senate Presidency Abdulraheem Yusuf Abdulfatai Baakini Fatima Abolore Jimoh Abdulquawiy Olododo Isaac Aderemi Kolawole Mustapha Akanbi Muyiwa Oladipo Kanu Oke-Ode Code Of Conduct Tribunal Abdulrahman Abdulrasaq Abdulwaheed Musa Kwara North Transition Implementation Committee Salaudeen Oyewale Adama Isa Kwara State Health Insurance Agency Sa\'adatu Modibbo-Kawu Durbar Festival

