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.

Mufutau Olatinwo     NURTW     Okedare     Kwara Pdp     Logun     AbdulQowiy Olododo     Olam Food Ingredients     Omar Bolaji Gambari     Wasiu Odewale     Muslimah Entrepreneurship Forum     Oba Abu     Gbenga Olawepo     Ilorin Likeminds Foundation     Baba Issa Awoye     Oniwasi Agbaye     Abdulkadir Orire     Kayode Oyin-Zubair     Kaiama     Amasa     Metro Park     Ahmad Olanrewaju Belgore     Malete     Oke-Ode     Dele Belgore     Abdulmumin Yinka Ajia     Jimoh Lambe Abdulkareem     Dagbalodo     Usman Rifun     Osi     John Obuh     Dan Iya     MalHub     Owode Market     Omoniyi M. Ayinla     Ilorin Emirate Staff Association     Joseph Bamigboye     Abdulhakeem Adelaja Amao     Ibrahim Abiodun     Ilorin Like-Minds     Ishola Moses Abiodun     A.E. Afolabi     Al-Hikmah Radio     Abdulmumini Sanni Jawondo     Marufat Oladosu     Abdulkadir Akanbi-Oke     David Oyerinola Adedunmoye     Kuliyan Geri     Hassanat Bello     UNILORIN Alumni     Sheikh Hamzat Yusuf Ariyibi     Olatunji Ayeni     11th Galadima     Public Holiday     Adamu Atta     JMK Construction Company Limited     Modibbo Kawu     Ibrahim Agboola Gambari     Olaitan Adefila     Omoniyi     Ijagbo     Michael Ologundea     Plat Technologies Limited     Waziri Yakubu Gobir     Yashikira     Shettima     Abdulwaheed Musa     Maigida Soludero Transit     Ali Ahmad     Unilorin     Sulyman Buhari     Ojo Isekuse     Dar-Al-Handasah Consultants     Eleyele     Tafidan Kaiama     Dele Momodu     Amos Justus Sayo     Ajibola Ademola Julius    

Cloud Tag: What's trending

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

Okanlawon Taiwo     Abatemi-Usman     Joshua Adeyemi Adimula     Lanre Jimoh     Lawan     Kayode Laro     Bello Abubakar     Yunus Lawal     Damilola Yusuf     Pacify Labs     Taofeek Sanusi     Abdullahi AbdulMajeed     Mohammed Lawal     Amusa Bello     Markaz Arabic And Islamic Training Institute, Agege     Ayinde Oyepitan     Abubakar Imam     Kwara State Printing And Publishing Corporation     Olabanji Orilonishe     Ilorin East     Madawaki Of Ilorin     Abubakar Aliagan     Emir Of Shonga     Olam Food Ingredients     Saad Omo Iya     Gbemisola Oguntimehin     Amada Jidda     Femi Gbajabiamila     Oro Grammar School     Olajumoke Monsura Gafar     Ile Arugbo     Saheed Alakoso     David Oyerinola Adedunmoye     Kwara NIPR     Kunle Suleiman     Read With Me     John Olobayo     Solomon Edoja     Abdulfatah Ahmed     Suleiman Yahya Alapansapa     Isin     Funmi Salau     Association Of Kwara State Online Media Practitioners     Deji Ajani     Bareke     Kola Adesina     NURTW     Sa\'adu Gambari     Bankole Omisore     Oyedun Juliana Funke     Bankole Omishore     NYSC     Ahmed Mohammed Rifun     Funke Adedoyin     March 28     Abdulbaqi Jimoh     Sarah Jubril     Ibrahim Abdullahi     Akorede     David Oyedepo     Owode Market     Yahaya Jibril Usman     Amosa     Undergraduate Bursary     Shero     Moses Adekanye     Abubakar Kawu Baraje     Yoonus Kola Olatinwo     Sheikh Ariyibi     Dele Belgore     Kazeem Oladepo     Gbugbu     Lawal Jimoh     Centre For Community Empowerment And Poverty Eradication     Bond     NULGE     Yemi Sanni