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.

A.E. Afolabi     Garba Ado Sanni     Police Commissioner     UITH     Naira Redesign     Wakilin Mata Lafiagi     Unicontinental Construction Company     Olajumoke Monsura Gafar     Abdulrasheed Na\'Allah     SGBN     Abdulrasheed Akogun     Universal Basic Education Commission     Lawal Olohungbebe     Nigeria Governors\' Forum     LABTOP     Awoye     Abdulmumini AbdulRazaq     United Nigeria Congress Party     Usman Yunusa     Kwara 2019     Tosin Saraki     Aisha Gobir     Saidu Kawu     Babatunde Ishola Babaita     Wahab Femi Agbaje     Chikanda     Ilorin Talaka Parapo     Kwara Teaching Service Commission     Abdulkadir Akanbi-Oke     Yusuf Amuda Aluko     Hakeem Lawal     Wale Oladepo     Kayode Ibrahim     Awili Pedro     Lawyers Unite Against Corruption     Kwara Liberation Group     IYA ALFA NLA     Air Peace     Toyin Abdullahi     Age AbdulKareem     Jare Olatundun     Ajibola Ademola Julius     Kayode Laro     Gambari     Clement Yomi Adeboye     Centre For Digital Economy     Volunteers Of Ilorin Community And The Emirate     Afin Descendants Union Of Odo-Owa     TESCOM     Jumoke Gafar     Joshua Adeyemi Adimula     Kwara State Governor     Adisa Logun     Oro Grammar School     Tunde Akanbi     Osuwa     Sheikh Hamzat Yusuf Ariyibi     Taiwo Joseph     Rachael Obisesan     PAACO-PCL Consortium     Mohammed Abduraheem     Sobi Specialist Hospital     Omoniyi     Tinubu Legacy Forum     Khairat Gwadabe     Flights To Ilorin     Ministry Of Women Affairs And Social Development     Aliyu Kora Sabi     Vasolar Consultoria     Rafiu Olasile     Saliu Mustapha     Sulu Babaita Isiaka     Siraj Oyewale     Towoju     Abdulraheem Yusuf     Onilorin Of Ilorin     Valsolar Consortium    

Cloud Tag: What's trending

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

TESCOM 2025     Universal Basic Education Commission     Mashood Abdulrafiu Agboola     Savannah Centre For Diplomacy, Democracy And Development     John Mayokun Dada     National Union Of Road Transport Workers     Abubakar Suleiman     Kale Kawu     Ilorin Amusement Park     Tafidan Kaiama     Ganmo     Saadatu Modibbo-Kawu     Tafida Of Ilorin     Ilorin Emirate     Segun Olawoyin     Muslim Media Watch Group Of Nigeria     SAPZ Project     Ibrahim Agboola Gambari     Kwara State Fish Farmers Association     Mashood Dauda     Muhammadu Gobir     Adeniyi Ojo     Donatus Ejidike     Yahaya Dumoye     Hijaab     Pacify Labs     Lucky Omoluwa     Katibi Ibraheem Adeola     Sobi Specialist Hospital     Ilorin Talaka Parapo     Kwara State Television (KWTV)     Abdulquowiyu Olododo     National Democratic Congress     George Innih     Odolaye Aremu     Gafaru Olayiwola Olorisade     Alfa Modibo Belgore     Kulende-UITH     Forgo Battery     Hassan Saliu     Tsaragi/Share     Salau Kabiru Abdullahi     Isiaka Gold     Oluranti Idowu     Arinola Fatimoh Lawal     Yusuf AbdulRasheed     Riskat Opakunle     Dankaka     Ajia-Bako     Federal College Of Education (Special), Afon     Abraham Ojo     Playing Host     Shade Omoniyi     Press Release     Kwara State Branch Of The National Library     New Nigeria People’s Party     Shururat Olatinwo     Muftau Akanbi Oke     Baba Isale     Olabode Towoju     Tunji Folami     Photo News     Dan Iya Of Ilorin     AbdulGafar Tosho     Salmon Babatunde Salmon     Oladimeji Thompson     Nigeria Customs Service     Hydro-electric Power Producing Areas Development Commission     Femi Oladiji     Balogun-Ojomu     Hijab     Saliu Alamoyo     Esinniobiwa Quareeb     Bayo Lawal     Junior Secondary School Certificate Examinations     Segun Adeniyi     Otuka