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.

Kwara Volleyball Association     Federal College Of Education (Special), Afon     Nigerian Medical Association     Bashirat Bola Bello     Markaz Arabic And Islamic Training Institute, Agege     Bukola Saraki     Mahmud Babatunde Baker     Magaji Nda     Grillo     Bluenile Associates     Peculiar Allowance     Magaji Are     Paul Olawoore     Hamid Bobboyi     Rafiu Olasile     Aishat Mohammed Lawal     Oke-Oyi     Alabi Lawal     Aisha Ahman Pategi     Mary Kemi Adeosun     Mohammed Ajia Ibrahim     Bisi Oyeleke     Reuben Paraje     Balogin Alanamu     Babaloja-General     Okanlawon Taiwo     United Nigeria Airline     Tunji Olawuyi     Ahmad Olanrewaju Belgore     Mohammed Halidu     Share-Tsaragi     Laolu Saraki     Ilorin General Hospital     Abatemi Usman     AbdulHamid Adi     Niyi Osundare     KWASAA     Kumbi Titilope     Abiodun Musa Aibinu     Folaranmi Aro     Opaleke Bukola Iyabo     Olatunde Olukoya     Abubakar Baba     Umaru Saro     IESA     Yakubu Dogara     April 11     Yusuf Amuda Gobir     Maigida Soludero Transit     T And K FOODS     Lukman Oyebanji Fagbemi     Iliasu     Salman Alada     Garment Factory     Bibire Ajape     Olabimpe Olani     Okin Biscuits     Ladi Hassan     Dan Iya Of Ilorin     Alikinla     Ahmed     Seed Technologies     Idris Garba     Vasolar-Kwara Company Ltd     Yusuf Aiyedun     Fatimat Saliu     Erin-ile     Halimat Yusuf     Wakilin Mata Lafiagi     Mohammed Abdulahi     Jumoke F. Ajao     Folajimi Aleshinloye     Musa Abdullahi     Kazeem Gbolagade     Coalition Of Kwara North Groups     Kayode Oyin Zubair     NIPR    

Cloud Tag: What's trending

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

Abdulganiy Abimbola Abdussalam     Isiaka Alikinla     Nigerian Army     Yusuf Arowosaye     Ibrahim Abikan     Roseline Oni Aremu     Umar Ahmed Gunu     Harrison Osauwagboe     AbdulHamid Adi     Dele Belgore     Rasaq Jimoh     David Oyedepo     Adesoye     Oladipo Akanmu Tolani     Abdulrahman Onikijipa     Kola Shittu     Lanre Issa-Onilu     Umar Yakubu Jaja     Abdulrasaq Alaro     Sunday Otokiti     Halimah Perogi     Kayode Alabi     KWSUED     Abdulkadri Ahmad Alaiye     ANCOPPS     Old Oyo     Usman Alkali Baba     Durosinlohun Kawu     Bankole Omishore     Samuel Adaramola     School Of Nursing     Trader Moni     Ilorin Like-Minds     Lawan     Olokoba     Femi Agbaje     N-Power     Musibau Akanji     Surajudeen Akanbi     Kola Ologbondiyan     IYA ALFA NLA     Sa\'adu Salahu     Issa Baba     Muslim Media Watch Group Of Nigeria     Ojuekun     RTEAN     Kolawole Bashirat     Olawuyi     Association Of Kwara State Online Media Practitioners     Balogun Gambari     Olajumoke Monsura Gafar     Saadu Gbogbo Iwe     Maryam Ado Bayero     Muslimah Entrepreneurship Forum     Abdulfatai Ahmed     Ilorin Metro Park     Aisha Ahman Pategi     Olayinka Jelili Yusuf     Kwarareports     Kisra     Yahaya Seriki Gambari     Doyin Group     Just Event Online     Basic Education Certificate Examination     New Model Police Station     EFCC     Abraham Ojo     Ibrahim Akaje     Hamidu Olowo     Mohammed Ibrahim     Kamaldeen Kehinde     Modibo Kawu     Kanu Agabi     International Public Sector Accounting Standards     Mary Arinde     Seun Bolaji     Omu Aran