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.

Yaru     Gbemi Saraki     Peter Amogbonjaye     Florence Saraki     Labour Party     Raliat Islamic Foundation     KWASIEC     Share     Yusuf Abdulraheem     ASKOMP     Hamidu Olowo     Shola Odetundun     Babata     Okoolowo     Haliru Dantoro     Yemi Osinbajo     Ayo Salami     Lasiele Alabi Yahaya     Idris Amosa Oladipo Saidu     Majlis For Sadakah, Zakat And Waqf     Saduki Lafiagi     Maja     Lanre Olosunde     Oyeyemi Olasumbo Florence     Aminu Ado Bayero     Yusuf Amuda Gobir     Garba Dogo     Musa Aibinu     Adamu Jemilat-Baki     Saka Asiat Ayinke     Hussein Olokooba     Odo-Owa     Oniyangi Kunle Sulaiman     Christopher Tunji Ayeni     Muslim Stakeholders Of Kwara State     Theophilus Oyebiyi     Coronavirus     Okala Baba     Elese Of Igbaja     Kayode Laro     Ishaq Oloyede     Bayer AG     IFK     Bola Olukoju     Najim Yaasin     Ibrahim Taiwo     Harrison Osauwagboe     Samuel Adedoyin     Naira Redesign     General Hospital, Ilorin     M.Y. Abdulrahaman     PharmAccess Foundation     School Of Nursing     Benin Republic     International Vocational Centre     Dorcas Afeniforo     Alfa Yahaya Road     Moshood Mustapha     Raimi Iyanda     Abdul-Rahoof Bello     Ahmed Idris Mohammed     Tafida Of Ilorin     Isiaka Gold     Flights To Ilorin     SUBEB     Waheed Ibrahim     Olatomiwa Williams     Joseph Yemi Ajayi     Abdulwahab Oba     Yusuf Arowosaye     Ishola Moses Abiodun     Salaudeen Oyewale     Timothy Akangbe     Muhammad Fawaz Abubakar     Idris Garuba     Mohammed Khadijat Kubura     Hameed Oladipupo Ali    

Cloud Tag: What's trending

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

Saba Mamman Daniel     Kwara Teaching Service Commission     Hussein Oloyede     Ilorin Central Mosque     Young Progressives Party     Just Event Online     Sabitiyu Grillo     Maigida     Dar-Al-Handasah Consultants     Belgore     Ayedun     Abdulrosheed Okiki     Bolaji Gambari     Rice Farmers Association Of Nigeria     Monthly Sanitation Exercise     Mahfouz Adedimeji     CCB     Ita-Nmo Market     Abubakar Imam     Salihu S. Yaru     Prince Bola Ajibola     Idi-Ape     Ayo Opadokun     Kale Ayo     Allocation     Alabi Olayemi Abdulrazak     Mufutau Olatinwo     Nigeria Computer Society     Abdulfatai Baakini     Bolakale Saka     Abdulmumini Jawondo     Gobirawa     Pategi     Abdulganiyu Salahudeen     Kwara State Coalition Of Business And Professional Associations     National Pilot     Abdulganiyu AbdulAzeez     Aso Ofi     Alaiye     Ganmo Electricity Sub-Station     Khadijat Ayoola Yusuf     Baba Adini Of Kwara State     Lateef Alagbonsi     Saheed Akinwumi     Joana Nnazua Kolo     Wahab Egbewole     T And K FOODS     Kayode Zubair     Talaka Parapo     Gbemi Saraki     Mohammed Lawal Bagega     Niyi Ogundiran     Durbar Festival     Grillo     Hameed Oladipupo Ali     Air Peace     Umar Adelodun     Rotimi Oyedepo     Owo Arugbo     Quarry Royal Valley     Femi Gbajabiamila     Kolade Solagberu     Mohammed Alabi Lawal     Owo Isowo     Saliu Alamoyo     Okin Malt     Apaola     Ado Bayero     Gwanara     Baba Isale     PharmAccess Foundation     Overland     Babaloja-General     Sa\'adu Gambari     Tayo Alao     Hijab     SUBEB