The Institution has never had financial crisis but recently faced cash flow management challenges, occasioned by delay in the enrolment of new students, due to the postponement of JAMB examination to May 2017. In the interest of the staff welfare, the Management sought a short-term bridging finance from financial institution to meet its financial obligation, which was obliged on the ground of its capacity to repay as and when due.

It is also important to clarify that the Kwara State University does not rely solely on school fees to effectively meet its financial obligations. This explains why the Institution came up with different activities capable of improving its Internally-Generated Revenue. For instance, KWASU has incorporated a company called RanaPower Energy Manufacturing Company Limited and Malete Film Village, which, when fully operational, are capable of creating wealth not only for the University, but its neighbouring community and the state as a whole. We are also collaborating with industries and organisations around the world, with a view to achieving financial security.

Also noteworthy is the fact that the Kwara State Government has been very supportive of the University since its establishment in 2009. In fact, aside from enjoying government uninterrupted subvention for the first five years of its establishment, the Institution has continued to receive cash backing for accreditation exercises. This has really helped the University to make significant progress in its tripartite mandates of teaching, research and community service.

The University, therefore, wishes to reassure members of the public of its determination to achieve the best for Kwara State and Nigeria as a whole, through its various programmes geared towards community development and wealth creation.