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.

Gbenga Awoyale     COVID-19 Palliatives     Ado Bayero     Kwara Hotel     Pius Abioje     Muhammad Yahya     Unilorin     Adedipe     Abdulazeez Arowona     All Confederation Of Principals Of Secondary Schools     Kayode Alabi     Tescom.kwarastate.gov.ng     LAK Jimoh     Babatunde Ishola Babaita     Jebba     Prince Mahe Abdulkadir     Oba Abu     Basic Education Certificate Examination     Olatunde Jare     Federal Polytechnic Offa     David Oyerinola Adedunmoye     Ridwan Agboola     Ayo Opadokun     Osinbajo     20 Billion Bond     Dauda Adeniran Adeshola     Abdulraheem Olesin     Abatemi-Usman     Salihu Ajia     Mohammed Lawal     Chief Imam Of Omu-Aran     Shola Odetundun     Kawu Baraje     Ahmad Olanrewaju Belgore     Ajia-Bako     Tayo Alao     MalHub     Lafiagi     Oye Tinuoye     Zainab Abass     Lasiele Alabi Yahaya     Col. Ibrahim Taiwo     Tafidan Kaiama     Muyiwa Oladipo Kanu     Ilesha Gwanara Road     Alabere     Ajidagba     Joseph Yemi Ajayi     Code Of Conduct     Abdul Jimoh Mohammed     Abdulfatai Ahmed     TIC     Sobi Hill     Saad Belgore     ASKOMP     Fatai Olodo     Lai Gobir     Women Radio     Abdulrazaq Magaji     Segun Adeniyi     Abdullahi Atanda     Kwara State Infrastructure Development Fund     Suleiman Mora Omar     John Mayokun Dada     Samuel Adedoyin     Flights To Ilorin     Rice Farmers Association Of Nigeria     Abraham Ojo     Bayo Lawal     Share-Tsaragi     Hassanat Bello     Aisha Ahman Pategi     Kudirat Arinola Lawal     Muhammad Ghali Alaaya     Saka Adeyemo     Muslimah Entrepreneurship Forum     Bello Oyedepo    

Cloud Tag: What's trending

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

Special Adviser On Digital Innovation     Alfa Modibo Belgore     Ahmad Olanrewaju Belgore     Ilota     Funke Adedoyin     Ladi Hassan     Awwal Jawondo     Unilorin FM     Abdullahi Biffo     Ayodele Olaosebikan     United Nigeria Airline     Dauda Adeniran Adeshola     Jamila Bio Ibrahim     Ghali Alaaya     Elekoyangan     Jumoke Monsura Gafar     AbdulGafar Tosho     Yusuf Amuda Abubakar     Hajj     Eleyele     Chief Imam Of Offa     Babaita     Share/Tsaragi     Emmanuel Bello     Kola Ologbondiyan     Ajibike Katibi     Arik     Saba Mamman Daniel     Tsado Manman     Sadiq Umar     Sa\'adu Salahu     Afolabi-Oshatimehin     Kayode Issa     Kpotum Mohammed Baba     Fatai Olodo     Mohammed Tunde-Jimoh     Emir Of Yashikira     JAAC     Olumide Daniel Ibitoye     Akom Construction And Engineering Synergy Ltd     Kola Shittu     Vasolar     Moshood Kashimawo Abiola     Ilorin Durbar     Adegoke Bamidele     Falokun-Oja     Busari Alabi Alausa     Shettima     Oyelere Oyinloye     Muslim Media Watch Group Of Nigeria     Boko Haram     Aliyu Olatunji Ajanaku     Mufti Of Ilorin     Alapado     SDP     Ijagbo     Kolawole Akande     Mustapha Akanbi     Toyosi Thomas     Rebecca Bake     GRA     Esinrogunjo     Goodluck Jonathan     Saheed Popoola     Mohammed Khadijat Kubura     Owu Fall     Aliyu Umar     Oba-Solagberu     Isiaka AbdulRazaq     Oniyangi Kunle Sulaiman     Musa Ayinla Yeketi     IYA ALFA NLA     Chief Imam Of Lafiagi     Ibrahim Mohammed     Ubandoma Of Ilorin     Ayobola Ipinlaiye     Ola Falade