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.

Ella Supreme Tissue Paper     Garment Factory     Alapansapa     Henry Olaosebikan     Segun Adeniyi     Florence Saraki     Mustapha AbdulGaniyu     Kannike     Alfa Modibbo Belgore     Abdulmumini Sanni Jawondo     Olanrewju Okanlawon Musa     Bashir Badawi     Odo-Owa     Wahab Egbewole     Mary Arinde     Bluenile Associates     Shagari     Colleges Of Education Academic Staff Union     Kwara Metro Park     Pius Abioje     Plat Technologies Limited     Olumide Daniel Ibitoye     Kamaldeen Gambari     FOMWAN     Tricycle Owners Association Of Nigeria     Yunus Lawal     Coalition Of Kwara North Groups     Michael Nzwekwe     Aisha Abodunrin Ibrahim     Afolabi-Oshatimehin     Oyun     Jimba Babatunde     CKNG     Baruten     Abdulmumin Yinka Ajia     Olokoba Sulyman     General Hospital, Offa     David Oyedepo     Muritala Olarewaju     Local Government     Lateef Alagbonsi     Kayode Issa     Olaiya Victor Mobolaji     Zulu Gambari     Congress For National Consensus     Post Utme     Kola Ologbondiyan     Idris Garuba     Adeleke Ogungbe     Saad Belgore     Joseph Offorjama     Otunba Taiwo Joseph     Saidu Yaro Musa     Segun Ogunsola     Students Union Government     Wahab Agbaje     Ilorin Talaka Parapo     Bashiru Makama     United Nigeria Congress Party     Orire     ENetSuD     Obuh     Kamaldeen Kehinde     Lola Ashiru     Abdullahi Saadudeen Alikinla     Awili Pedro     Bola Magaji     Sa\'ad Alanamu     Okin Malt     Mohammed Halidu     Amusement Park     Salmon Babatunde Salmon     Shehu Raheem Adaramaja     Dunmade     Towobola Abdulrahman Toyin     Modupe Oluwole     Ishaq Salman    

Cloud Tag: What's trending

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

Suwa-Arabs     Atiku Abubakar     Tunji Ajanaku     Sulyman Abdulkareem     Ope Saraki     Salman Suleiman     2017 Budget     Ahmad Fatima Bisola     Ajia-Bako     Lola Olabayo     Olanrewju Okanlawon Musa     Odogun Olushola Gabriel     Pakata     Funmi Salau     Oba Abdulkadir La\'aro     Garuba Alikinla Shittu     Yusuf Lanre Badmas     Adegoke Bamidele     Ahmed Saidu Rufai     Park     Tanke Road     Abdullahi Saadudeen Alikinla     Isiaka Abdulrazak     Sardauna Of Ilorin     UNILORIN Alumni     Bureau Of Lands     Taofik Abiodun Ahmed     Principal Private Secretary     General Hospital, Ilorin     Ike Ekweremadu     QuickWin     Mustapha Akanbi     Bayo Onimago     Abdulganiyu Oladosu     Bio Ibrahim     Bibire Ajape     Olufolake Abdulrazaq     Elections     Kwarareports     Ilorin South Constituency     Mashood Dauda     Soffiyyallah Kamaldeen     Senate President     AbdulQowiy Olododo     Eleja     Madawaki     Raimi Iyanda     Bilikisu Gambari     Bolakale Kawu     IHS     Plat Technologies Limited     Saad Omo\'ya     V.O. Abioye     UITH     Nurudeen Muhammed     Titus Ashaolu     Abdulrazaq Sanni     Sa\'adu Salahu     Sanitation Exercise     Ajasse-Ipo     Neo Mundo Ltd     Kolawole Akande     Crystal Corner Shops     Saraki     Olusegun Adeniyi     Christopher Tunji Ayeni     Omu Aran     Adisa Logun     Vishvas KOZ Tractors     Mahee Abdulkadir     Shuaib Jawondo     Abdulganiy Abimbola Abdussalam     Tayo Alao     Yakubu Gobir     New Model Police Station     Yusuf Mubarak     Iyabo Adewuyi