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.

Isiaka Yusuf     Idris Garba     Abdullahi AbdulMajeed     Olusin Of Ijara Isin     Yusuf A. Usman     Amina El-Imam     Jimba Babatunde     Fulani     Bayo Mohammed Onimode     Abdul-Rasheed Na\'Allah     Yusuf Abdulkadir     Adesina Simon Sodiya     Academic Staff Union Of Universities     Okin Biscuit     Siddiq Adebayo Idowu Salawu     Demola Banu     Majlis For Sadaqah, Zakat And Waqf     Farouk Salim     NITDA     Niyi Ogundiran     Ishak Mohammed Sabi     Dauda Adeniran Adeshola     Musa Ayinla Yeketi     Abdullahi Atanda     Gbugbu International Market     Dairo Kunle Paul     Taofeeq Olateju     Ayobola Ipinlaiye     Forgo Battery     Ahmed Ayinla Jimoh     Roheemat Hammed     Abubakar Ndakene     Razaq Atunwa     Bilikis Oladimeji     Yusuf Ali     Rapheal Ashaolu     Baruba     Lateef Alagbonsi     Association Of Kwara State Online Media Practitioners     Abubakar Abdulraheem     Valsolar Consortium     John Dara     Durbar Festival     Aliyu Kora Sabi     Kishira     Hakeem Idris     Oniyangi Kunle Sulaiman     Ibrahim Akaje     Agbarere     Kupchi Hosea Maxwell     Ayinke Saka     Ogbondoroko     Afetu Of Alabe     ITP     Aiyedun     Kwara State Printing And Publishing Corporation     Share     Shehu Adaramaja     Ubandawaki     Ajidagba     Moses Afolayan     Communication Network Support Services     Na\'Allah     Oasis Muslim Care Foundation     Gwanara     April 11     Emir Of Ilorin     Mohammed Yisa     Abdulrazaq Magaji     FOMWAN     IF-K     Mutawali     Owo Arugbo     Grillo     Bluenile Associates     Isiaka Rafiu Mope     Cornelius Fawenu    

Cloud Tag: What's trending

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

Olumide Daniel Ibitoye     March 18     Offa Descendants Union     Wahab Issa     Yemi Osinbajo     Olatunji Bamgbola     Victor Gbenga Yusuf     Muhammad Toyin Sanusi     Metro Park     Hassan Saliu     Adebayo Mohammed Kamaldeen     Ayodele Shittu     General Hospital, Ilorin     CLAY POT     Age AbdulKareem     Abdullahi Imam Abdullahi     Saba Jibril     AbdulKareem Yusuf Danhawa     ASKOMP     Abdullahi Adisa Akodudu     Jimoh Akani     Elerin Of Adanla     Lanwa     Lateef Fagbemi     Kwara Primary Health Care Development Agency     Budo-Egba     Babs Iwarere     Dan Iya     Sango-UITH Road     Abiodun Musa Aibinu     Ladi Hassan     Haliru Dantoro     Olayinka Olaogun     Binta Sulyman     Student Learning Support Helpline     Oyelere Oyinloye     Owode Market     Eleyele     Okeose Christian Cementary     Muftau Akanbi Oke     Ibikunle Ogunleye     Babajide Ajayi     Joseph Yemi Ajayi     Garba Ayodele Wahab     Chikanda     Abdulwahab Oba     Benin Republic     IHS Towers     Ibrahim Taiwo Road     Muslim Media Watch Group Of Nigeria     Lanre Aremu     Ekweremadu     Bello Abubakar     Yetunde Balogun     PharmAccess Foundation     Okoolowo     Abdullahi G. Mohammad     Orire     Alliance For Democracy     Hauwa Nuru     Oladimeji Thompson     Ajibola Ademola Julius     Doyin Awoyale     Ijagbo Health Centre     Presidential Election     Rafiu Olasile     Ajase-Ipo     Sun Qing Rong     Lola Olabayo     Idowu Laro     Ahman Pategi     Abdullahi Dasilva Yussuf     Stephen Fasakin     Ahmed Idris Mohammed     Rachael Obisesan     Idris Amosa Saidu     Ghali Alaaya