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.

Yusuf Abdulwahab     Isiaka Gold     Jumoke F. Ajao     Aasiyat Bello Oyedepo     Salman Jawondo     AbdulRahman Saad     Okanlawon Musa     Press Release     Sunday Popo-Ola     Abdulwahab Olarewaju Issa     AGILE Programme     Gbajabiamila     Kola Bukoye     Busari Alabi Alausa     Erubu     Smart School     Omu Aran     Seun Bolaji     Ayotunde Emmanuel Alao     John Dara     Kehinde Boyede     Read With Me     Oyedun Juliana Funke     Muhammad Yahya     Obayomi Azeez     Yusuf Arowosaye     Isiaka Saka Opobiyi     Mohammed Abdulahi     National Broadcasting Commission     Okoolowo     Fulani     Shettima     Jare Olatundun     Shururat Olatinwo     Frootify     Ahmed Shuaib Buranga     Isa Aremu     KWIRS     Elerinjare-Ibobo     Code Of Conduct Tribunal     Oyelere Oyinloye     Joseph Bamigboye     Siddiq Adebayo Idowu Salawu     Ayedun     Lola Olabayo     ASUU     Adedipe     SUBEB     Solomon Edoja     Vasolar-Kwara Company Ltd     Saidu Kawu     Law School Scholarship     Mohammed Abduraheem     Abdulraheem Yusuf     Kudirat Arinola Lawal     Alliance For Democracy     Fareedah Dankaka     Ilorin Metro Park     Oba Of Jebba     Ekiti     Saadu Gbogbo Iwe     Baba-Isale     Aishatu Ahmed Gobir     Joseph Alex Offorjama     Kwara South     Segun Adeniyi     Saka Keji     Kazeem Adekanye     Garba Dogo     Patigi Regatta     Agbarigidoma     Dasuki Belgore     Omotoso Musa     TIIDELab     Abdulrahman Abdulrasaq     Bashirat Bola Bello     Habeeb Saidu    

Cloud Tag: What's trending

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

TIC     Yusuf Ali     Mumeen Lah     United Nigeria Airline     Forgo Battery Company Limited     Florence Saraki     Olusola Saraki     Idris Garuba     Rafiu Ajakaye     Ojuekun     Harafat E. Mukadam     Alanamu     Abioye Bello     Hassan Abdulazeez Elewu     Abdulrazaq Adebayo     Farouk Salim     Isaac Gbenle     Aminat Ahmed     IYA ALFA NLA     Raji Ayodele Kamaldeen     Ilesha-Baruba     Michael Imoudu National Institute For Labour Studies     Atiku     Musbau A. Akanji     NITDA     Adekunle David Dunmade     Adamu B. Yaqubu     Ado Bayero     Ilorin Talaka Parapo     Michael Nzwekwe     Ayotunde Emmanuel Alao     Sulyman Tejidini     Titus Suberu-Ajibola     Isiaka Yusuf     Tunji Olawuyi     Olufolake Abdulrazaq     Chief Of Staff     Government High School Adeta     Mazars Consulting     Bankole Omishore     Ghali Alaaya     Awili Pedro     Gbemisola Saraki     Okanlawon Musa     Yoonus Kola Olatinwo     BIR     Ilorin Descendants Progressive Union     Mohammed Ajia Ibrahim     Gbenga Adebayo     Saka Balikis Kehinde     Ibrahim Labaika     Labaeka     Ahmed Alhasssan     Yusuf Zulu-Gambari     IHS Towers     Okin Biscuit     Haruna Olawale Sulaiman     Suleiman Idris     Joseph Bamigboye     Justina Oha     Abraysports FC     Mumini Ishola Hanafi     Wahab Olasupo Egbewole     Ebun-Olu Adegboruwa     Metro Park     Minister     Shuaibu Yaman Abdullahi     Sa\'ad Alanamu     Adewuyi Funmilayo     MATTA Girls Foundation     Ali Ahmad     Ijagbo Health Centre     Fatai Olodo     Ophthalmological Society Of Nigeria     ER-KANG     Balikis Jawondo     Sobi