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.

Toyin Abdullahi     Halimat Yusuf     Mopelola Abdulmaliq-Bashir     Elerin Of Adanla     Kwasu     TVC Female National Debate     Hamza Usman     Aremu Odolaye     Salman Jawondo     CCEPE     Abatemi-Usman     Bolaji Abdullahi     Salihu Alhaji Musa     Rihanat Ajia     Kwara Restoration Project     Simeon Ajibola     Yusuf Abubakar     Transition Implementation Committee     Fatai Olodo     Trade Lenda SME Fair     Alfa Belgore     Olawuyi     Kwara 2015     Yakubu Gobir     John Dara     GAMA     N-Power     Yunus Lawal     Suleman Abubakar     Raliat AbdulRazaq     Revenue Court     Kazeem Adekanye     Ibikunle Ogunleye     Ishaq Salman     Lawyers Unite Against Corruption     Abdulrazaq Sanni     Arinola Lawal     Najim Yaasin     Yakubu Danladi     David Oyerinola Adedunmoye     Laduba     Nigeria Foundation For Artificial Intelligence     UNILORIN Alumni Association     Young Progressives Party     Ola Falade     Peculiar Allowance     Olokoba Abdullahi Ayinla     Tsado Manman     Mahmud Ayinla Giwa     Kaosarah Adeyi     Abdullahi G. Mohammad     Damilola Yusuf Adelodun     Tsaragi-Share     Saadu Gbogbo Iwe     Arinola Fatimoh Lawal     Gabriel Fashanu     Bola Ahmed Tinubu     Toyin Falola     Muftau Akanbi Oke     Clement Yomi Adeboye     Ilorin Emirate Staff Association     Tunde Kazeem     Oke Sunna     Mohammed Abdulahi     General Hospital, Offa     Umar Yakubu Jaja     A.G.F Abdulrasaq     AbdulRahman Saad     Abdulhakeem Adelaja Amao     Femtech     AbdulHakeem Ajibola Akanbi     COEASU     Harmony Holdings     Mike Omotosho     Aisha Gobir     Ibrahim Jawondo     Government High School Adeta    

Cloud Tag: What's trending

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

Ibrahim Agboola Gambari     United Nigeria Airline     Shuaibu Yaman Abdullahi     Hussein Olokooba     Olayinka Jelili Yusuf     Tescom.kwarastate.gov.ng     Isaac Aderemi Kolawole     Quran     Timothy Akangbe     Odolaye Aremu     Saka Balikis Kehinde     Kwasu     Ilorin Durbar     Kisira     Revenue Court     Bareke     Kayode Yusuf     Jimoh Lambe Abdulkareem     Naira Redesign     Radio Kwara     Tsaragi-Share     Ohoro Of Shao     Saadatu Modibbo-Kawu     Inside Kwara     Ojo Fadumila     SAPZ Project     Garuba Alikinla Shittu     Quareeb     Alabi Olayemi Abdulrazak     Ibrahim Taiwo Road     Adam Abdullahi Al-Ilory     Overland     Wahab Olasupo Egbewole     Demola Banu     Umar Ayinla Saro     Rafiu Ajakaye     Ahmad Olayiwola Kamaldeen     Manzuma     Emmanuel Olatunji Adesoye     Ministry Of Women Affairs And Social Development     Kwara State Governor     Yusuf Abdulraheem     Isiaka Gold     Yakub Lai Gobir     Olabode Towoju     Ahman Pategi     Ekiti     Onilorin Of Ilorin     Guber Aspirant     Coalition Of Kwara North Groups     NIPOGA     Vasolar Consultoria     Alliance For Democracy     Pakata Development Association     Edret Sabi Abel     Bashir Omolaja Bolarinwa     Osuwa     Abdulraheem Olesin     Ahmad Uthman     Ibrahim Oniye     Just Event Online     FOMWAN     Pakata     Wasiu Onidugbe     Omar Gambari     Kwara United     Tunde Akanbi     UNILORIN Alumni     PAACO-PCL Consortium     Ilesha Gwanara Road     HYPPADEC     Abdulganiyu Oladosu     Bayo Ajia     Aminat Omodara     Ayobami Akanbi     Ndama Al-hassan     Muhammed Danjuma