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.

Hydroelectric Power Producing Areas Development Commission     Bankole Omishore     Abdulrazaq Adebayo     Mahmud Durosinlohun Atiku     Sulu Gambari     Aminat Omodara     Gobir     Aisha Buhari     Rapheal Ashaolu     Atiku     Mahee Abdulkadir     Bola Olukoju     Ilorin Descendants Progressive Union     Col. Taiwo     Oladimeji Thompson     Odolaye Aremu     Osuwa     Ishak Mohammed Sabi     Muhammad Yahya     Is\'haq Modibbo Kawu     Saka Abimbola Isau     Ado Bayero     Oke-Odo     Ishaq Salman     Ahman Patigi     Www.Kwarareports.com     Ilorin Like-Minds     Ariyo     Ajasse-Ipo     Senior Ibrahim Suleiman     Ibrahim Mashood     Onilorin     Woro     Kwara State Television (KWTV)     Kayode Alabi     Ibrahim Orire     Quarry Royal Valley     Federal Polytechnic Offa     Otunba Taiwo Joseph     Quareeb     Christopher Odetunde     Awwal Jawondo     Kwara Restoration Project     Oluwarotimi Boluwatife Adenike     Afolabi-Oshatimehin     Shettima     Saidu Isa     Saduki Lafiagi     Ohoro Of Shao     Abdulrasheed Akogun     Majlis For Sadakah, Zakat And Waqf     New Nigeria People’s Party     Tinubu     Vasolar Consultoria     Samari     Saadu Alanamu     Wahab Isa     Bello Abubakar     BIR     Olateju Lukman     Ahmad Olayiwola Kamaldeen     Sheu Ndanusa Usman     Forgo Battery     Ibikunle Ogunleye     Saheed Akinwumi     Gbenga Olawepo     CELF     Elese Of Igbaja     Lateef Alagbonsi     Senior Special Assistant On Student Affairs     Baboko     Mashood Abdulrafiu Agboola     JAMB     Isiaka Rafiu Mope     Public Holiday     AbdulRazaq Abubakar Jiddah     Joseph Bamigboye    

Cloud Tag: What's trending

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

Lafiagi     Cornelius Adebayo     Kazeem Oladepo     Raymond Olaitan     Femi Ogunsola     Olomu     Clement Yomi Adeboye     Saba Jibril     Balogun Fulani     Mohammed Khadijat Kubura     Yahaya Jibril Usman     Nigerian Supreme Council For Islamic Affairs     Folashade Omoniyi     Owu Fall     Mufutau Gbadamosi Esuwoye     Sarafadeen Kayode Akorede     Akorede     BECE     Saraki     Mujtabah Bature     Shagari     Idris Amosa Saidu     Kamaldeen Ajibade     Pategi     Imam Gambari     KW-GIS     Muhammad Ghali Alaaya     Yusuf A. Usman     Ibrahim Abdulqadir Abikan     Rafiu Ajakaye     Samuel Olusegun Adedayo     Abdulkareem Alabi     Veterinary Teaching Hospital     Alfa Belgore     AbdulRazaq Jiddah     Yakubu Danladi     Modibbo Kawu     Mohammed Ajia Ibrahim     Alaaya     Nigerian Medical Association     Reuben Paraje     Suleiman Abubakar     Abdulwahab Oba     Odolaye Aremu     Ibrahim Jawondo     GAMA     Vasolar     Wahab Issa     Kassim Babamale     Agor Market     Bolaji Nagode     John Dara     Omu-aran     Tsaragi/Share     Share/Tsaragi     Saka Aleshinloye     Opolo Global Innovation Limited     Oyeyemi Olasumbo Florence     Baba Issa     Suraj Tunji Oyewale     Lanre Aremu     Islamic Development Bank     Babaloja-General     Raji AbdulRasaq     Tunji Folami     Alagbado     Yakubu Dogara     Iyaloja-General     Salihu Ajibola Ajia     Quareeb     Face Masks     Halidu Danbaba     Tunji Olawuyi     Salihu S. Yaru     Fola Consultant     Shehu Alimi Foundation     Madawaki