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.

Shehu Raheem Adaramaja     Bisi Kristien     National Party Of Nigeria     Shettima     Oke-Odo     Harmony Holdings     Baruba     Ajayi Okasanmi     Isiaka Rafiu Mope     Alikinla     Salihu Ajibola Ajia     Yusuf Babatunde Abdulwahab     Babaloja-General     Hajj     Iyabo Adisa Ibiyeye     Amina El-Imam     Sidikat Uthman Ajibola     Abdulganiyu Salahudeen     Iponrin     Tunji Moronfoye     Agor Market     Abdulrazak Shehu Akorede     General Tunde Idiagbon International Airport Ilorin     EndSARS     Abdulrahman Iliasu     Muideen Olaniyi Alalade     Neuropsychiatric Hospital     AbdulFatai Adeniyi Dan-Kazeem     Abdulazeez Arowona     Ilorin Likeminds Foundation     Ilorin Emirate Stakeholders Forum     Share-Tsaragi     Riskat Opakunle     Kwara NIPR     Bayo Mohammed Onimode     Offa Metropolitan Club     Lanre Badmas     Lola Olabayo     Sheikh Alimi     Sabi     Emir Of Ilorin     Allocation     Simeon Sule Ajibola     ASUU     Kwara State Printing And Publishing Corporation     Bond     Ayobami Seriki     Danladi     School Of Nursing     Lithium     Segun Ogunsola     VADA     Adedayo Yusuf Abdulkareem     Raliat Islamic Foundation     Oloje     Zaratu Umar     Olayinka Are     Umar Yakubu Jaja     Moro     Olupako Of Share     ER-KANG Mining Nigeria Company Limited     Ayoade Akinnibosun     Olatunji Ibrahim     Abdulwahab Oba     Owu Fall     Amada Jidda     Savannah Centre For Diplomacy, Democracy And Development     Alloy Chukwuemeka     Ahmad Fatima Bisola     Senate President     Bashir Omolaja Bolarinwa     Balogun Fulani     Isapa     Salihu Alhaji Musa     Prince Mahe Abdulkadir     Emir Of Kano     Kolade Solagberu    

Cloud Tag: What's trending

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

Jaiz Bank     Prince Sunday Fagbemi     Wasiu Odewale     Surajudeen Akanbi     Khadijat Ayoola Yusuf     3MTT     Fatimat Saliu     All Confederation Of Principals Of Secondary Schools     Grillo     Jimoh Olusola Imam     Rabiu Kwankwaso     Saka Saadu     Charcoal     Oloriegbe     Akeem Olatunji     SWAN     Share/Tsaragi     Kale Belgore     Ilesha Gwanara Road     Biliaminu Aliu     Hamza Usman     Okasanmi Ajayi     Patigi Regatta     Garba Dogo     Gurei     Saidu Kawu     Talaka Parapo     Zulkifli Ibraheem     FOMWAN     Ibrahim Abiodun     Emir Of Lafiagi     Mogaji Aare     Special Agro-Industrial Hub     Adeniyi Ojo     Saadu Gbogbo Iwe     Abatemi Usman     Katibi Ibraheem Adeola     Abubakar Abdulraheem     Omupo     Kwara State Branch Of The National Library     Ibrahim Oniye     Omar Gambari     Senior Special Assistant On Student Affairs     Bamikole Omishore     Zulu Gambari     Federal Road Maintenance Agency     AbdulFatai Adeniyi Dan-Kazeem     Nigeria Computer Society     Ethical College     Tayo Awodiji     Omu-aran     Rotimi Oyedepo     Mohammed Abduraheem     Kwara Metro Park     Oke-Odo     Baba Issa Awoye     Bankole Omishore     All Peoples Party     Shero     N-Power     Agbarere     Abubakar Suleiman     Ibrahim Mashood     Elerin Of Erin-Ile     Majlis For Sadakah, Zakat And Waqf     HYPPADEC     Nigerian Supreme Council For Islamic Affairs     Mahfouz Adedimeji     Yusuf Abubakar     Muhammed Abdullahi     Ebun-Olu Adegboruwa     Adebayo Mohammed Kamaldeen     Colleges Of Education Academic Staff Union     Prince Mahe Abdulkadir     Road Transport Employers Association Of Nigeria     Yakub Ali-Agan     Salaudeen Oyewale