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.

Ilorin Emirate Staff Association     Turaki Of Ilorin     Yunus Lawal     Rapheal Ashaolu     Lotus Bank     Ibrahim Abduquadri Abikan     George Funsho Adebayo     Dan Iya     Abdulwahab Olarewaju Issa     Nupe     Women Radio     Marufat Oladosu     Bola Iyabo Ibiyeye Adisa     KWSUED     Abdulrazaq Aiyelabegan     Olatunji Moronfoye     Abdulrasheed Akogun     Ado Ibrahim     Lai Mohammed     Mahmud Babatunde Baker     Tanke     Issa Baba     Durbar     Ekiti     Erubu Oba Zubair     Kazeem Oladepo     Stephen Fasakin     Kwara Apc     Suleman Abubakar     Abdulfatai Ahmed     Cornelius Adebayo     Akande Idowu Ayoola Muhammed     Markaz Arabic And Islamic Training Institute, Agege     KWAFFA     Kunle Okeowo     Jimoh Bashir     Bahago     V.O. Abioye     Bashir Omolaja Bolarinwa     Temitope Ogunbanke     RTEAN     Public Holiday     Gbenga Awoyale     Rebecca Olanrewaju     Nigerian Army     Musa Aibinu     Femi Oladiji     Abdulwaheed Musa     Balogun Fulani     Yekeen Alabi     Bayo Onimago     Mashood Dauda     Olateju Lukman     Roseline Oni Aremu     Afusat Nike Ibrahim     Afolabi-Oshatimehin     Tope Daramola     Umar Adelodun     Abdulrahman Abdulrazaq     Abdullahi Saadudeen Alikinla     GANZY     Olofa Of Offa     Sulu Babaita Isiaka     Saliu Ajia     Oba Abdulraheem     Kale Belgore     Mohammed Haruna     Akanji     Riskat Opakunle     Moremi High School     Special Agro-Industrial Hub     Elelu     United Nigeria Congress Party     Abubakar Kawu Baraje     Osi     Toyin Sanusi     Alabi Olayemi Abdulrazak    

Cloud Tag: What's trending

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

Olajumoke Monsura Gafar     Tunde Oyawoye     Gbenga Olawepo     Michael Ologundea     Mahmud Durosinlohun Atiku     Baruten     Isau     Kayode Bankole     Dauda Adeniran Adeshola     Ibrahim Jawondo     Omotoso Musa     AIT Ilorin     Ahmed Alhasssan     CLAY POT     Lawal Arinola Kudirat     Ahmad Ali     Fatimat Saliu     Mohammed Halidu     Abdulkadir Remi Hawawu     Hakeem Idris     Aliyu Sabi     Abdulrazaq Sanni     NNPP     Sola Saraki Educational Foundation     Abiodun Jacob Ajiboye     Issa Manzuma     Yahaya Seriki Gambari     Coronavirus     Ita-Nmo Market     Kayode Oyin Zubair     IESA     Joseph Offorjama     Sabitiyu Grillo     Ibrahim Abikan     Ahman Patigi     CUTI     United Nigeria Airline     Tunde Akanbi     Kwara North     Sulaiman Gado     Alliance For Democracy     UNIFEMGA     Ejidongari     Saheed Popoola     Okeose Christian Cementary     Harmony Holdings     Wasiu Onidugbe     Aminat Ahmed     Abdulhakeem Adelaja Amao     James Ayeni     Lanre Badmas     Simon Sayomi     Apado     Abdulbaqi Jimoh     Shuaib Jawondo     Iyeru Grammar School     Abdul-Rahoof Bello     Alloy Chukwuemeka     Mumini Ishola Hanafi     Dogara     Garba Ayodele Wahab     Kwara Muslim Pilgrims Welfare Board     Gbemisola Oguntimehin     Ahman Pategi     Adama Isa     Funmilayo Oniwa     Oasis Muslim Care Foundation     Raji AbdulRasaq     Saeedat Aliyu     AGILE Programme     Manzuma     Labaeka     AbdulRaheem Ahmad Shayi     Kulende     KwaraLearn     Societe Generale Bank Of Nigeria     Tunji Moronfoye