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.

Valsolar Consultoria     Kwara Restoration Project     Sa\'adu Gambari     IsDB     Ahmad Belgore     Ibrahim Oloriegbe     Niguel Gallando Marcias     Rotimi Oyedepo     Ahmed     Umar Sanda Yusuf     Ajuloopin     Saka Adeyemo     Bayo Ojo     Danladi     Ahmad Fatima Bisola     Olatomiwa Williams     TESCOM 2025     Oloje     Bukola Saraki     Oba Of Jebba     Binta Sulyman     Kawu Baraje     Cornelius Fawenu     Zainab Abass     Law School Scholarship     Olomu     Presidential Election     Academic Staff Union Of Universities     Waheed Ibrahim     Alimi Abdulrazaq     Olaoye B. Felix     Ile Arugbo     Rihanat Ajia     Sai Kayi     Idofin     Umar Saro     Sulyman Atolagbe Alege     Wahab Isa     Adisa Logun     Iqra Books     Yusuf Zulu-Gambari     Iyabo Adewuyi     Oluwarotimi Boluwatife Adenike     Ambassador Kayode Laro     Sarafadeen Kayode Akorede     Ilorin East     Orisa Bridge     Abubakar Kawu Baraje     Mohammed Halidu     Khairat Gwadabe     College Of Arabic And Islamic Legal Studies     Magaji Are     Sobi Specialist Hospital     Nnazua     Alabi Lawal     Agor Market     Abubakar Usman Jos     NaAllah     Ahmed Alhasssan     Azeez Bello     Taofik Abiodun Ahmed     Elerin Of Adanla     Code Of Conduct     Aishatu Ahmed Gobir     Nigeria Customs Service     Kwara State University Of Education     Olabode Towoju     PAACO-PCL Consortium     Idris Garuba     Habeeb Abdullahi Al-Ilory     Suleiman Mora Omar     Kolawole Akande     International Vocational Centre     Olomu Of Omu-Aran     Bilikisu Gambari     Surajudeen Akanbi     Charcoal    

Cloud Tag: What's trending

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

Yomi Ogunsola     Ilorin Emirate Stakeholders Forum     GAMA     Mufti Of Ilorin     Ope Saraki     Code Of Conduct Tribunal     George Funsho Adebayo     Abdulrahman Abdullahi Kayode     Roseline Oni Aremu     Volunteers Of Ilorin Community And The Emirate     Joseph Daudu     Musa Aibinu     Kwara State Sports Commission     Abdulkadir Jimoh     Funmilayo Zubair     Minister     Tinubu     Prince Sunday Fagbemi     Harmony Holdings     Saliu Shola Taofeek     Olawuyi     Dunmade     Oju Ekun Sarumi     AbdulHamid Adi     Funke Adedoyin     SUBEB     Ghali Alaaya     Abubakar Baba Sulaiman     Doyin Agbamu     Makama     Societe Generale Bank Of Nigeria     Omoniyi Ayinla     National Democratic Congress     Abdulmutalib Shittu     Kwara Central     Ilesha-Gwanara     Oya State     Abdullahi Samari     Lanre Aremu     Mohammed Jimoh Faworaja     Buari Edun     Busari Alabi Alausa     Muideen Olaniyi Alalade     Ajidagba     Bolaji Gambari     Oke-opin     Bluenile Associates     UNIFEMGA     Code Of Conduct     Peculiar Allowance     Joseph Offorjama     Aisha Gobir     Saidu Isa     Orisun Igbomina     NaAllah     Olabimpe Olani     Radio SBS     KFA     Towobola Abdulrahman Toyin     Kayode Ishola     Babata     Ayedun     Owo Isowo     Femi Gbajabiamila     Playing Host     Ibrahim Orire     Kwara State Branch Of The National Library     Odo-Owa     Emmanuel Bello     Okanlawon Musa     Yusuf Abubakar     Dan Iya Of Ilorin     Isiaka Abdulrazak     Olabode Towoju     Sulyman Buhari     Ahmed Ayinla Jimoh     Ita-Nmo Market