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.

Gbemisola Saraki     Saka Onimago     Lanre Olosunde     Raymond Olaitan     Usman Yunusa     Apaola     Idowu Laro     Ajase-Ipo     Umar Ayinla Saro     Adeleke Ogungbe     Zulkifli Ibraheem     Oke-Ode     JAAC     Dapo Teni Nig Enterprise     Alaaya     IHS     Abdulrahman Abdulrasak     Shettima     Shonga Farm Project     Air Peace     Yusuf AbdulRasheed     Gbajabiamila     IESA     Gbadeyan Gbadura Yomi     Saheed Popoola     Road Transport Employers Association Of Nigeria     Abdulrahman Abdulrazaq     NFAI     Nigerian Medical Association     Henry Makinwa     Kayode Ogunlowo     Deji Ajani     Wahab Olasupo Egbewole     Saudat Abdulbaqi     Lai Mohammed     Muhammed Danjuma     Tunde Saad     Ayoade Akinnibosun     Samuel Olusegun Adedayo     Modupe Oluwole     Rebecca Olanrewaju     Odolaye Aremu     AbdulHakeem Ajibola Akanbi     Babatunde Idiagbon     State Bureau Of Internal Revenue     Kupchi Hosea Maxwell     Tunji Moronfoye     Haleeman Salman     Yahaya Seriki Gambari     Mahmud Ayinla Giwa     Amina Susa\'a De Ahmed     Gambari     Tescom.kwarastate.gov.ng     Otunba Taiwo Joseph     Kaosarah Adeyi     NIRSAL     Donatus Ejidike     Agor Market     Lola Olabayo     AbdulRazaq Jiddah     Eghe Igbinehi     Okoolowo     Bola Ahmed Tinubu     Osuwa     Shoprite     Lukman Adeloyin     SAPZ Project     Ibrahim Abdulqadir Abikan     Agboola Babatunde     Omar Bolaji Gambari     Alfa Modibo Belgore     Abdullahi Atanda     Ibrahim Abikan     Offa Grammer School     Oba David Oyerinola Adedunmoye     Opobiyi     United Nigeria Congress Party    

Cloud Tag: What's trending

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

Aliyu Adebayo     Kaosarah Adeyi     REO CAKES     NFAI     VADA     Amos Sayo     Okanlawon Musa     Basic Education Certificate Examination     Gwanara     Abdulganiyu Oladosu     Adamu Attah     General Hospital, Offa     Maryam A. Garuba     Kwara Apc     Daud Adeshola     Umaru Saro     Quarry Royal Valley     Adesoye     Ibrahim Bio     Kwara State Infrastructure Development Fund     Siraj Oyewale     AbdulHamid Adi     Ella Supreme Tissue Paper     TIC     Muhammadu Gobir     Emir Of Shonga     Mansur Alfanla     Imodoye Writer’s Enclave     Rasheed Jimoh     Yahaya Abdulkareem Babaita     Maigida Soludero Transit     Mohammed Abduraheem     Adamu Jemilat-Baki     General Tunde Idiagbon International Airport Ilorin     Ibrahim Orire     Apado     Olabode George Towoju     Alfa Belgore     Ojo Isekuse     Dan Iya Of Ilorin     Tunde Mukaila Mustapha     Baba Adini Of Kwara State     Obuh     Nupe     Onikijipa     Owode Market     Yusuf Olaolu Ali     Yoonus Kola Olatinwo     Marufat Oladosu     Dunmade     Garuba Alikinla Shittu     Coalition Of Kwara North Groups     AbdulRauf Keji     Basit Olatunji     AbdulRazaq AbduMajeed Alaro     Mubarak Oladosu     IYA YUSUF     Ayinde Oki     Taibat Ayinke Ahmed     Sheriff Shagaya     School Of Nursing     HAMFAT Clinic And Maternity     Sebastine Obasi     Sulu Babaita Isiaka     Garment Factory     Afonja Descendants Union     Centre For Community Empowerment And Poverty Eradication     Saliu Shola Taofeek     Kisira     Abdulwahab Ololele     Idris Amosa Saidu     FERMA     Sambo Murtala     Rasaq Jimoh     Mohammed Kamaludeen     National Information Technology Development Agency     Ishola Abdullahi