KWASU NOT A DEBTOR INSTITUTION

Date: 2017-06-13

The Kwara State government wishes to clarify that subvention to the Kwara State University (KWASU) and other tertiary institutions in the State was stopped based on estimates prepared by the institutions as a prelude to the State's 2017 budget proposal. The government also wishes to correct the impression that the state university is a debtor institution.

In 2016, the State government and managements of tertiary institutions in the State reviewed the schools' expected revenue inflows and financial commitments. That review concluded that some institutions no longer required subventions from the Government.

The government however made a commitment to continue to provide funding for accreditation exercises.

It is instructive to note that the government reviewed the subventions accruing to the state-owned institutions after deploying mechanisms to block loopholes and wastage in the system, as part of efforts to cut costs.

It was after the review that the government discovered that the internal revenues generated by institutions such as KWASU and Kwara State Polytechnic, Ilorin were enough to meet their financial obligations.

This discovery necessitated the State government's decision to discontinue the monthly subventions to the institutions. With regards to KWASU, and as stated earlier, the university's budget for this year was prepared based on expected students enrolment and payment of fees as well as recurrent expenditure.

However, KWASU could not meet the set target due to a two-week delay in the enrolment of new students, which led to a revenue shortfall. The financial status of the University will, however, be normalized as soon as students resume in July for a new academic session.

Therefore, any bridge financial intervention initiated by the university is temporary and does not amount to distress. The state government maintains that its decision to stop subventions accruing to some of the state-owned tertiary institutions was based on the finances of the institutions and its determination to make them self-sustaining.

 

Cloud Tag: What's trending

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

Kulende     CACOVID     Akanji     Musa Ayinla Yeketi     Apata Ajele Secondary School     Lithium Deposit     Tunde Idiagbon Road     Senate     Abiodun Abdulkareem     Ayedun     Bashirat Bola Bello     Undergraduate Bursary     Ghali Muhammed     Kwarareports.com     Eruku     ASKOMP     ER-KANG     Raimi Iyanda     Saadu Yusuf     George Funsho Adebayo     Joshua Adeyemi Adimula     Mazars Consulting     Minister     Kwara Consultative Forum     Ayeyemi Sulaiman     Demola Banu     Jimoh Akani     Abdulrosheed Okiki     MalHub     Balikis Jawondo     Kwara Volleyball Association     Kolade Solagberu     Bankole Omisore     Muslim Cementary     NAWOJ     Diagnostic Centre     Grillo     Wahab Agbaje     Kupchi Hosea Maxwell     Olatomiwa Williams     SARS     Boko Haram     Okanlawon Taiwo     Plat Technologies Limited     Borgu     Kwara Teaching Service Commission     Hassan Abdulazeez Elewu     Agboola Babatunde     NTA Ilorin     Yeketi     Sai Kayi     Ilorin Amusement Park     Opobiyi     Bashir Badawi     Aminat Ahmed     Hassan Taiye Salam     Wahab Isa     Otunba Taiwo Joseph     Omu-aran     Kolawole Akande     Muritala Awodun     Yusuf Amuda Abubakar     Mogaji Aare     Budo-Egba     Niyi Osundare     Kamaldeen Gambari     Prince Bola Ajibola     Ophthalmological Society Of Nigeria     Fulani     Babata     TIIDELab     Babs Iwarere     Saadu Gbogbo Iwe     Abubakar Abdullahi Bata     Lateef Ademola Olatunji     Apaola     SUBEB    

Cloud Tag: What's trending

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

Baboko Primary School     Ganmo Electricity Sub-Station     Abubakar Olusola Saraki     Medview Airlines     Kwara State Geographic Information Service     Femi Agbaje     Ibrahim Abiodun     Sarakite     Abdulrasheed Lafia     Shaaba Lafiagi     Raymond Olaitan     Olatunji Abdulmumeen     Lithium Deposit     Sulyman Buhari     Saliu Mustapha     Clement Yomi Adeboye     Ilorin Emirate Staff Association     BIR     Rotimi Atere     Saka Saadu     Yusuf Abdulkadir     Olukotun Of Ikotun     Kabir Shagaya     Wahab Isa     Moshood Kashimawo Abiola     Yeketi     Umar Yakubu Jaja     Kwara Metro Park     Ibrahim Labaika     Agbarere     NNPP     Minimum Wage     Yusuf Abubakar     Mashood Dauda     NIPR     Olayinka Jelili Yusuf     Plat Technologies Limited     Kwara Basketball Association     Adamu Attah     Offa Poly     Abiodun Jacob Ajiboye     Yakubu Shaaba     Park     Iyeru Grammar School     Ayinde Oyepitan     Lola Ashiru     Abdulrahman Abdulrasaq     Matthew Babaoye     Femtech     Okeose Christian Cementary     SSA Youth Engagement     SUBEB     Abubakar Bature Sulu-Gambari     AbdulHakeem Ajibola Akanbi     Oko-Olowo     Suleiman Yahya Alapansapa     Tsado Manman     Onikijipa     Kwara TV     SSA Youth     Ilorin.Info     Adesoye College     Abdulkareem Alabi     Alfa Belgore     Chemiroy Nigeria Limited     Y.A. Abdulkareem     Pakata     Muazam Nayaya     March 28     Dasuki Belgore     Ahmad Belgore     Emir Of Lafiagi     Muslim Media Watch Group Of Nigeria     Wahab Femi Agbaje     Democracy Day     Elerinjare     C2c@kwarastate.gov.ng