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.

Makama     Ahmad Fatima Bisola     Akande Idowu Ayoola Muhammed     Ilorin West/Asa Federal Constituency     Nigeria Customs Service     Olatunji Ayeni     Lai Gobir     Salihu Ajibola Ajia     Ganmo Electricity Sub-Station     Gbajabiamila     Centre For Digital Economy     Jelili Yusuf     Federal Allocation     CACOVID Palliatives     LAK Jimoh     Abegunde Goke     Otuka     Kwara Hotel     Alao Ayotunde     Irepodun     Road Transport Employers Association Of Nigeria     Abatemi Usman     Shehu Jimoh     Erin-ile     Monthly Sanitation Exercise     Arinola Fatimoh Lawal     Rafiu Ibrahim     A.G.F Abdulrasaq     Danhawa     Standard Organization Of Nigeria     Chartered Institute Of Personnel Management Of Nigeria     Kwha.gov.ng     Yashikira     GGDSS Pakata     Okeose Christian Cementary     Dankaka     Ilorin South Constituency     Ekiti     Valsolar Consultoria     Radio Kwara     Dar-Al-Handasah Consultants     Gbemi Saraki     Ibrahim Taiwo Road     Tanke Flyover Bridge     Tunde Saad     Sheu Ndanusa Usman     Bola Shagaya     Folajimi Aleshinloye     Toyin Falola     Oye Tinuoye     Omoniyi     Oke-Odo     Oba-Solagberu     Abubakar Abdulraheem     EndSARS     Adisa Logun     Abdulganiyu Oladosu     SAPZ Project     Shehu Raheem Adaramaja     Baba Idris     Sa\'ad Alanamu     Kawu Baraje     Olayinka Olaogun     Ilorin.Info     CKNG     Mohammed Katsina Ahmed     Okin Biscuits     Charles Ibitoye     Simeon Ajibola     Otoge     Akume     Zubair Folorunsho Erubu     Bolakale Saka     Simeon Sayomi     Abdulrahman Abdulrasak     Babatunde Ishola Babaita     Tafidan Kaiama    

Cloud Tag: What's trending

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

Ilorin Anchor Men And Women     Abubakar Usman Jos     Inside Kwara     Sunday Popo-Ola     Sa\'adu Salahu     Kwara State Geographic Information Service     Modibbo Kawu     Suleman Abubakar     Umar Yakubu Jaja     Code Of Conduct Bureau     Olabimpe Olani     Adebayo Salami     Naira Redesign     Idris Amosa Saidu     Owode Market     Sheikh Ridhwanullah El-ilory     Oko Erin     Azeez Bello     Idiagbon     Pilgrims Board     Abdulrauf Yusuf     Alabi Lawal     Teachers Specific Allowance     Mumeen Lah     Adeleke Ogungbe     Jamiu Oyawoye     Raheem Adaramaja     Ndama Al-hassan     Chief Imam Of Omu-Aran     Lafia Aliyu Korasabi     Elerin Of Adanla     Mufti Of Ilorin     Chief Imam Of Offa     Adamu Attah     Sunset Workers     Ibraheem Adeola Katibi     Salami Adekunle     Baba Issa Awoye     Ayodele Kuburat Olaosebikan     Olatomiwa Williams     Yakubu Mohammed Abdullahi     Tunde Saad     Salihu Jibril Garbi     Kamaldeen Gambari     Ilorin Like-Minds     Ndakene     Gbenga Olawepo     Yusuf Aiyedun     Tafida Of Ilorin     Face Masks     Kannike     Muhammed Abdullahi     Yekini Adio     Mogaji Aare     Bayo Onimago     Muritala Awodun     Abdulwahab Ololele     Aminu Ado Bayero     Saad Belgore     Lanre Issa Onilu     Countryside Emerging Leaders Fellowship     Alore     Saba Mamman Daniel     African Democratic Congress     Abubakar Abdullahi Bata     Ogbondoroko     Sidikat Akaje     Aliyu Muyideen     Ibrahim Abdulqadir Abikan     Olatunji Ibrahim     Abdulkadir Jimoh     Chartered Institute Of Personnel Management Of Nigeria     Yusuf Abubakar     Mazars Consulting     Hamid Bobboyi     Ibrahim Labaika     Isa Aremu