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.

Democracy Day     Bayo Lawal     Allocation     Muhammad Sirajo Aliyu     Monthly Sanitation Exercise     Omu-aran     Dairo Kunle Paul     Dar-Al-Handasah Consultants     Forgo Battery     Shoprite     Bilikis Oladimeji     National Association Of Nigerian Students     Hikmah AbdulKareem     GANZY     Share-Tsaragi     Riskat Opakunle     Ilota     Elections     Sobi Specialist Hospital     Alao Ayotunde     Yunus Oniboki     Ilorin Innovation Hub     Ejidongari     Tope Daramola     Ebola     Matthew Okedare     Oko     Turaki Of Ilorin     International Public Sector Accounting Standards     Stephen Fasakin     Muhammad Toyin Sanusi     Nurudeen Mohammed     National Party Of Nigeria     Segun Olawoyin     Olaiya Zuberu     Tafidan Kaiama     Sola Saraki Educational Foundation     Mumeen Lah     Iponrin     Clara Nwachukwu     Gamji Members Association     MalHub     Michael Nzwekwe     Buhari     Ayobola Ipinlaiye     Senior Special Assistant On Student Affairs     Sheikh Hamzat Yusuf Ariyibi     Mustapha Akanbi     Pius Abioje     Mogaji Aare     Saka Abimbola Isau     Toyin Saraki     Vasolar-Kwara Company Ltd     Okin Biscuit     Kwara South     Iyabo Adisa Ibiyeye     Sabitiyu Grillo     Musbau A. Akanji     Esinrogunjo     Jimoh Bashir     Rashidi Yekini     Dan Iya Of Ilorin     Abdulrahman Abdulrazaq     Firdaos Amasa     Okin High School     QuickWin     Jeunkunu-Malete-Bani     Frootify     Diagnostic Centre     Malete     Dan Masanin     Durbar Festival     Hydroelectric Power Producing Areas Development Commission     Kunbi Titiloye     Joshua Adeyemi Adimula     Nigeria Association Of Women Journalists     Abdulrahman Abdulrasak    

Cloud Tag: What's trending

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

Communication Network Support Services     New Nigeria People’s Party     Olaiya Victor Mobolaji     Admiralty Villa     Emir Of Yashikira     Dapo Teni Nig Enterprise     TIIDELab     Kayode Oyin Zubair     Lanre Issa Onilu     NITDA     Adamu Attah     Facemasks     Muritala Olarewaju     Abdulkareem Alabi     Ayo Adeyemi     Ibrahim Abdulqadir Abikan     Computer Based Test     Ahmed Shuaib Buranga     Senior Special Assistant On Student Affairs     Tosin Saraki     Sobi Specialist Hospital     Logun     Fatimoh Lawal     Busari Alabi Alausa     Alaaya     HICA     Aro Yahaya     Afusat Nike Ibrahim     Owo Arugbo     Abdulkadir Akanbi-Oke     Yoruba     Maryam Ado Bayero     Tunde Saad     Saidu Yaro Musa     Oko-Olowo     Kwara University Of Education     Wahab Egbewole     Abdulquawiy Olododo     Ibrahim Mashood     Yusuf Amuda Aluko     Abubakar Bature Sulu-Gambari     Tunde Oyawoye     Centre For Peace And Strategic Studies     Oyedepo     Bello Oyebanji     Abdul-Rasheed Na\'Allah     Saka Asiat Ayinke     State Bureau Of Internal Revenue     Kwara Primary Health Care Development Agency     Idris Garuba     Ahman Patigi     Iyaloja-General     Kola Ologbondiyan     Peter Obi     Park     Rotimi Samuel Olujide     Olufolake Abdulrazaq     Erubu     Muhammad Ghali Alaaya     Woro     Alfa Modibbo Belgore     Peter Amogbonjaye     Salman Suleiman     Dar-Al-Handasah Consultants Ltd     Malete     Pakata     Ishola Moses Abiodun     Kayode Zubair     Razak Atunwa     Afonja     Presidential Election     Odolaye Aremu     Federal Neuro-Psychiatric Hospital     Oba Mogaji Abdulkadir     Noah Yusuf     Sarafadeen Kayode Akorede     Edu