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.

Photo News     Markaz Arabic And Islamic Training Institute, Agege     Moses Afolayan     Ilorin Airport     Kwara Metro Park     Assayomo     Sherif Shagaya     Muyideen Ajani Bello     Afolasade Opeyemi Kemi     Bolakale Saka     Isiaka Rafiu Mope     Abdulfatai Ahmed     Gbugbu International Market     Yoruba     Pakata Patriots     Clement Yomi Adeboye     Mahe Abdulkadir     Abdulganiy Abimbola Abdussalam     High Court     Seed Technologies     Mohammed Yisa     Ilorin Water Reticulation     National Democratic Congress     Adewuyi Funmilayo     Oyedepo     Sambo Murtala     Yusuf Olaolu Ali     Abdulrasheed Na\'Allah     Zara Umar     Tanke Road     Sarkin Malamai     Face Masks     Chief Imam Of Lafiagi     Damilola Yusuf     AGM Professional Services     Baba Adini Of Kwara State     Temitope Ogunbanke     Ahmad Uthman     Abdulrahman Abdulrasak     Tunde Akanbi     Christian Association Of Nigeria     Cornelius Fawenu     Budo-Egba     Muhammadu Buhari     Kisira     Valsolar-Kwara Company Limited     Sunset Workers     Muslim Media Watch Group Of Nigeria     Yusuf Lanre Badmas     Centre For Community Empowerment And Poverty Eradication     Abdullah Janet Amudat     New Model Police Station     Chikanda     Gamji Members Association     Ilorin Emirate Staff Association     Www.Kwarareports.com     UTME     Okiki     Voices Of Tomorrow     Kwara Teaching Service Commission     Moshood Kashimawo Abiola     Ahmed Idris Mohammed     Oja-Oba     Sun Qing Rong     Suleman Abubakar     Siraj Oyewale     Seun Bolaji     Joseph Yemi Ajayi     Oko-Erin     Salihu Ajia     Olaiya Zuberu     Abdulrahman Abdullahi Kayode     Oke-Oyi     Jawondo     Toyin Olayinka Tejidini     Baba Idris     Sulaiman Gado    

Cloud Tag: What's trending

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

Minimum Wage     Unicontinental Construction Company     Babatunde Ajeigbe     Cornelius Adebayo     Babaita     Obasanjo     JAMB     Abdulhakeem Adelaja Amao     Sayomi     Lanre Aremu     Lateef Ademola Olatunji     Azeez Bello     Labaeka     Shururat Olatinwo     Na\'Allah     Edret Sabi Abel     Patigi Regatta     Shehu Adaramaja     Maryam Ado Bayero     Mutawalle     Akorede     Farouk Salim     Col. Taiwo     Baaziki Sulaiman     Segun Adeniyi     Siraj Oyewale     Jumoke Gafar     Bilikis Oladimeji     SAPZ Project     Age AbdulKareem     Jaiz Bank     Shuaibu Yaman     Rasheed Jimoh     Adamu Ibrahim Sabi     Michael Ologundea     Yomi Ogunsola     Baruba     PharmAccess Foundation     Kubra Kazum     Sodiya     Kwara State Governor     Belgore     Kwasu     NIPOGA     Saraki     Press Release     Peculiar Allowance     Sardauna Of Ilorin     Alaro     Read With Me     Issa Oloruntogun     Justina Oha     Pategi     Veterinary Teaching Hospital     Muhammad Akande Olarewaju Odunade     Salihu Yahaya     Atiku     Alaaya     Saka Saadu     Folorunsho Erubu     Peter Obi     Saadatu Modibbo-Kawu     Communication Network Support Services     Plat Technologies     Magaji Erubu     Abdullahi G. Mohammad     Durosinlohun Kawu     Susan Modupe Oluwole     Ahmed     Lawal Jimoh     Hassan A. Saliu     Usman Alkali Baba     Shao     Umar Yakubu Jaja     Abdullahi Imam Abdullahi     Bamikole Omishore     Kazeem Gbolagade