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.

Ayo Opadokun     Busari Toyin Isiaka     Oloyede     Okasanmi Ajayi     Ebun-Olu Adegboruwa     Idowu Laro     Saadu Yusuf     Oko-Erin     Lanre Issa Onilu     Maja     Ilorin Water Reticulation     Oyedepo     Soffiyyallah Kamaldeen     Abubakar B.M     Saka Saadu     Ganmo Electricity Sub-Station     Oyedun Juliana Funke     Oyawoye     Riskat Opakunle     Yekeen Alabi     Ike Ekweremadu     Musa Yeketi     Bamidele Aluko     Salaudeen Oyewale     John Olobayo     Kwara State Geographic Information Service     Kwara Volleyball Association     Saka Keji     Is\'haq Modibbo Kawu     Salihu S. Yaru     Shehu Adaramaja     NTA Ilorin     Bashiru Makama     Bayo Lawal     Balikis Jawondo     Aminu Ado Bayero     Kwara State Council Of Chiefs     Ibrahim Abdulkadir Abikan     Odo-Owa     Abubakar Kawu Baraje     Balogun-Ojomu     Modibbo Kawu     Baruten     Agor     IDPU     Hauwa Nuru     Olatunji Moronfoye     KWASSIP     Babatunde Ajeigbe     SARS     Okeose Christian Cementary     Just Event Online     Sadiq Buhari     Bisi Kristien     Police Commissioner     Face Masks     Majlis For Sadakah, Zakat And Waqf     National Broadcasting Commission     Bamidele Adegoke Oladimeji     Ayekale     Adeola Abraham     Centre For Digital Economy     United Nigeria Congress Party     Post-utme     Sulyman Buhari     Saliu Tunde Bello     Deji Ajani     Sanitation Exercise     Sheu Ndanusa Usman     Dan-Kazeem     Suleiman Ajadi     SUBEB     Maryam Ado Bayero     Moji Makanjuola     Elelu     Olubukola Kifayat Adedeji     Adedipe    

Cloud Tag: What's trending

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

Yomi Adeboye     Alagbado     Adesina Simon Sodiya     Dan Iya Of Ilorin     Quareeb Islamic Association     Aremu Bose Deborah     Mohammed Lawal Bagega     Muyiwa Oladipo Kanu     UNILORIN Alumni Association     ER-KANG Mining     Aliyu Adebayo     Ahmad Belgore     Convocation Ceremonies     Esuwoye     Kolawole Akande     Mansur Alfanla     High Court     Ilorin Water Reticulation     Societe Generale Bank Of Nigeria     Umar Sanda Yusuf     Yahaya Seriki     Monthly Sanitation     Ile Arugbo     Salihu Ajibola Ajia     Kwara State Branch Of The National Library     Sidikat Akaje     Sulyman Abdulkareem     HICA     Abdulmajeed Wahab     Haleeman Salman     Zubair Folorunsho Erubu     Senate President     Lola Ashiru     Osuwa     Abdulmalik Bashir Mopelola Risikatullahi     Toyin Saraki     Salihu Alhaji Musa     Baba Isale     Jani Ibrahim     Saka Isau     Solomon Edojah     Ishola Balogun Fulani     Kwara State Governor     Ajibola Ademola Julius     Aliyu Alhassan     Saeedat Aliyu     Akeem Lawal     Shuaib Jawondo     Abatemi Usman     Bashirat Bola Bello     Yusuf Lanre Badmas     Abdulquawiy Olododo     Abiodun Abdulkareem     Radio SBS     Olokoba Abdullahi Ayinla     Kwara Pdp     Abdulrahman Abdulrazaq     Awoye     Otoge     Elese Of Igbaja     Ayinke Saka     Shehu Raheem Adaramaja     Yakubu Shaaba     Alfa Modibbo Belgore     Hijaab     Sulu Babaita Isiaka     Ashiru     Abdulkarim Adisa     Folorunsho Alao     Dagbalodo     Abdulmumin Yinka Ajia     Temi Kolawole     Fatimoh Lawal     John Olajide Adedipe     Nigerian Supreme Council For Islamic Affairs     Aminat Omodara     Tanke