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.

Folajimi Aleshinloye     Kwara State Printing And Publishing Corporation     AIT Ilorin     Shuaib Abdulkadir     Sobi FM     Ishaq Abdulkarim     Bola Sagaya     Face Masks     Sodiya     Tunde Yusuf     Ilorin Amusement Park     Ilorin Curfew     Academic Staff Union Of Universities     Unilorin     GAMA     Amina Susa\'a De Ahmed     Christian Association Of Nigeria     Dumagi     Harafat E. Mukadam     Ishak Mohammed Sabi     Sheriff Olanrewaju     Maigidasanma     Tafida Of Ilorin     NSCIA     Muazam Nayaya     Aso Ofi     Olugbense     Sobi Specialist Hospital     Okanlawon Musa     Elese Of Igbaja     Tunji Oyawoye     TESCOM 2025     Atunwa     Obuh     Abdulmumini Sanni Jawondo     Kayode Laro     IYA ALFA NLA     Tanke Road     Ayodele Kuburat Olaosebikan     Olatunji Abdulmumeen     Femi Agbaje     Towobola Abdulrahman Toyin     Soffiyyallah Kamaldeen     Share-Tsaragi     Afolabi-Oshatimehin Adenike Harriet     Sam Okaula     Federal Allocation     Apaola     Issa Baba     Halidu Danbaba     Mashood Dauda     Titus Suberu-Ajibola     Atiku Abubakar     Kwara State Geographic Information Service     Salman Alada     Garba Idris Ajia     Ejidongari     Sheikh Ridhwanullah El-ilory     Student Learning Support Helpline     Joshua Adeyemi Adimula     Hajj     Balogin Alanamu     Durbar Festival     Sam Onile     Admiralty Villa     Pilgrims Board     Tunji Olawuyi     Folashade Omoniyi     Abubakar B.M     Talaka Parapo     JSSCE     Ebun-Olu Adegboruwa     Harrison Osauwagboe     Michael Ologundea     Government Girls’ Day Secondary School Pakata     Sambo Murtala     Vasolar-Kwara Company Ltd    

Cloud Tag: What's trending

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

Ilorin Likeminds Foundation     Budo-Egba     Yahaya Jibril Usman     Ilorin East/South Federal Constituency     Atiku     Isapa     Abubakar Kawu Baraje     Gambari     Onilorin Of Ilorin     Sadiq Buhari     Abubakar Aliagan     Local Government     TETFUND     Abegunde Goke     Laboratory-to-Product     Earlyon Technologies     ER-KANG Mining     C2c@kwarastate.gov.ng     Oke-Ero     Mohammed Ajia Ibrahim     N-Power     Student Learning Support Helpline     Coalition Of Kwara North Groups     Magaji Erubu     Abubakar Lah     SSUCOEN     Share/Tsaragi     Patience Jonathan     Amina Susa\'a De Ahmed     Air Peace     David Oyedepo     Muhammed Abdullahi     Abdullahi G. Mohammad     Oke-Odo     Adegoke Bamidele     Pategi     Alao Ayotunde     Igbomina     Bola Sagaya     Government Girls’ Day Secondary School Pakata     Niyi Ogundiran     Funmilayo Braithwaite     Yeketi     AbdulKareem Yusuf Danhawa     Ibrahim Abiodun     Shehu Raheem Adaramaja     Adaramaja     Kubra Kazum     Funmilayo Oniwa     Owode Market     Usman Rifun     Bolaji Aladie     Abdul-Rasheed Na\'Allah     Igbaja     Plat Technologies     Lanre Jimoh     Zainab Abass     Muazam Nayaya     Olusegun Adeniyi     Elerinjare-Ibobo     Peculiar Allowance     Dasuki Belgore     UTME     Kwara TV     Oke-Ode     Ibrahim Mohammed     Ilota     Micheal Imoudu     Sarah Alade     Jebba     Ibrahim Oniye     Gbenga Adebayo     Dairo Kunle Paul     Kwara State Fire Service     Igosun     Adesoye     Ajakaye