Kwara State Government plans to complete the Ilorin metropolis water reticulation project through the proposed N23bn bond to be procured from the capital market.

Senior Special Assistant to the State Governor on Investment, Promotion and Strategy, Mr Yomi Ogunsola, gave this assurance at a press briefing on the sectorial breakdown of the proposed bond.

Ogunsola said the state government has expended over N5.2bn on the water reticulation project to take it to the present 98 per cent completion stage; adding that about N2bn would be used from the proposed bond to complete the project.

He said, "The bond would also be expended on the renovation of 120 schools across the state, renovation of the indoor Sports Hall at the State stadium complex in Ilorin as well as the additional work at the Kwara Diagnostic Centre."

The State Commissioner for Works and transport, Dr Abubakar Kannike, also explained that the state government had earmarked the sum of N5.4bn for the 61.85 kilometre Kishi-Kaiama road.

Kannike said the government intends to promote agriculture and regional integration in the area, stressing that over thirty communities would benefit from the construction of the road.

The State Commissioner for Finance, Engineer Nurudeen Banu, who spoke on the refinancing of the proposed bond said modalities had been put in place to ensure prompt repayment of the bond.