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.

Idofin     Saad Belgore     NIPOGA     Owo Arugbo     Shade Omoniyi     Muslimah Entrepreneurship Forum     Zainab Abass     Gbajabiamila     Binta Abubakar Mora     Lai Mohammed     Moses Rahman Popoola     Abdulraheem Yusuf     Shettima Of Ilorin     Fatimat Saliu     Jumoke Monsura Gafar     Bankole Omishore     Reuben Paraje     Bilikisu Oniyangi     Ganiyu Taofiq     Arinola Lawal     Alapado     IHS     Baruten     Saka Saadu     Agboola Babatunde     UTME     Amusa Bello     Aliyu Muhammed     Oke-opin     Bayo Onimago     Yekini Adio     Ogidi-Oloje     Abdulkadir Remi Hawawu     Lateef Fagbemi     Ibrahim Abdulqadir Abikan     Assayomo     Yashikira     Muslim Media Watch Group Of Nigeria     SUBEB     SSA Youth Engagement     Ibrahim Taiwo     Folorunsho Alao     Salihu Alhaji Musa     Olugbense     Dan Iya     Sunday Fagbemi     Cornelius Adebayo     Offa     Ayodele Olaosebikan     Muyideen Ajani Bello     Yahaya Abdulkareem Babaita     Musa Yeketi     Mohammed Alabi Lawal     Jimoh Olusola Imam     Mahmud Durosinlohun Atiku     Ebun-Olu Adegboruwa     Bashirat Bola Bello     Kwara State University Of Education     Khadijat Ayoola Yusuf     Bayo Mohammed Onimode     Adama Isa     Ayo Salami     Lanre Olosunde     Undergraduate Bursary     Olabanji Orilonishe     Doyin Agbamu     Abdulganiyu AbdulAzeez     Bahago     Gbenga Olawepo     Democracy Day     Nurudeen Muhammed     Egbewole     Facebook     Hamid Bobboyi     Clement Yomi Adeboye     Budo-Egba     Wahab Agbaje    

Cloud Tag: What's trending

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

Ramadhan     IF-K     Bolaji Abdullahi     Oju Ekun Sarumi     NNPP     Kwabes     Ilorin Durbar     Tunji Folami     Folaranmi Aro     Ishak Mohammed Sabi     IFK     Timothy Akangbe     GRA     Special Agro-industrial Processing Zone     Abdullateef Abdussalam     Ahman Pategi University     Saka Keji     Abdulkadir Remi Hawawu     Gaa Olobi     Haliru Dantoro     Abubakar Atiku     Yashikira     CBT     Government High School Adeta     Asa LGEA School     Mahmud Durosinlohun Atiku     Haashim Initiative For Community Advancement     Olosi Of Osi     Jimoh Bashir     Okedare     Ope Saraki     Curfew     Kayode Issa     Mustapha Akanbi     Monsurat Omotosho     Azeez Bello     Okasanmi Ajayi     National Association Of Nigerian Students     Harrison Osauwagboe     Muhammad Akande Olarewaju Odunade     General Hospital, Ilorin     Suleman Abubakar     Medinat Folorunsho Salman     Mukhtar Shagaya     AbdulQowiy Olododo     Lateef Alagbonsi     Elections     Elese Of Igbaja     Olaosebikan     Bature Bello     Tuesday Assayomo     Suraj Tunji Oyewale     KWATMA     Government Girls’ Day Secondary School Pakata     Plat Technologies     Ilorin Talaka Parapo     Iyabo Dupe Adekeye     Olupako Of Share     Ahmad Ali     Isapa     State Bureau Of Internal Revenue     Lithium     Inside Kwara     First Lady     Economic And Financial Crimes Commission     Abdullahi Dasilva Yussuf     Kwara United     Olaiya Victor Mobolaji     CCEPE     Ghali Alaaya     Mogaji Aare     Ilorin International Airport     ASKOMP     Joana Nnazua Kolo     Quran     Zainab Abass     Segun Ogunsola