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.

Khadijat Ayoola Yusuf     Kayode Issa     Saliu Ajibola Ajia     Leke Ogungbe     Abatemi Usman     Siraj Oyewale     C2c@kwarastate.gov.ng     NULGE     Obayomi Azeez     Pacify Labs     Suleiman Abubakar     Dan Iya     Abdulwahab Olarewaju Issa     SGBN     Colleges Of Education Academic Staff Union     UNIFEMGA     Kwara State Health Insurance Agency     Mary Kemi Adeosun     Wale Oladepo     Radio SBS     Owode Market     Veterinary Teaching Hospital     Omoniyi     Samari     Solomon Edojah     Alaiye     Binta Sulyman     College Of Health     Yusuf Abubakar     Oja-Oba     Ilorin Descendants Progressive Union     Ilorin South     Sa\'ad Alanamu     Kumbi Titilope     Risikat Lawal     Lateef Fagbemi     Roseline Oni Aremu     JAMB     Kwara Restoration Project     Mahmud Durosinlohun Atiku     Crystal Corner Shops     Oba David Oyerinola Adedunmoye     Idris Garuba     Mahmud Ajeigbe     Bilikisu Gambari     Abdul-Rahoof Bello     Kwara Primary Health Care Development Agency     Ilorin Emirate Stakeholders Forum     Junior Secondary School Certificate Examinations     Fareedah Dankaka     Oloyede     Jelili Yusuf     Col. Adedipe     Kwara State Council Of Chiefs     Aliyu Sabi     Ubandoma Of Ilorin     International Aviation College     Amule     Arik     Sheikh Alimi     Abdulkadir Akanbi-Oke     Kwara State Football Association     Abdullahi Saadudeen Alikinla     Niyi Ogundiran     Kwara Hotel     Shonga Farm Project     Hassan A. Saliu     Biliaminu Aliu     Dapo Teni Nig Enterprise     UNILORIN Alumni Association     Split Diamond Interchange     Ridwan Agboola     Adisa Logun     Afonja     Share-Tsaragi     AbdulQowiy Olododo     Valsolar Consultoria    

Cloud Tag: What's trending

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

Oniwasi Agbaye     Zulkifli Ibraheem     Ado Ibrahim     Segun Olawoyin     Hakeem Lawal     Isaac Gbenle     Shaaba Lafiagi     Elerin Of Erin-Ile     Mohammed Yahaya Barki     Abdullahi AbdulMajeed     Olumide Daniel Ibitoye     GRA     Wahab Kunle Shittu     Agbarigidoma     Erin-ile     Balogun Gambari     KSIRS     Taofik Abiodun Ahmed     Abdullahi Biffo     Issa Oloruntogun     Yahaya Abdulkareem Babaita     Nigerian Supreme Council For Islamic Affairs     Baboko Primary School     Roseline Oni Aremu     Kwasu     Abdulrahman Abdulrasaq     Salmon Babatunde Salmon     Oniye     Abdulkadri Ahmad Alaiye     Orire     Chief Imam Of Ilorin     Standard Organization Of Nigeria     Ayodele Shittu     Omoniyi     Femtech     Orisun Igbomina     Special Agro-industrial Processing Zone     Ajuloopin     Sun Qing Rong     PAACO-PCL Consortium     Sanusi Abubakar     Gbemisola Saraki     Bukola Ajikobi     Yunus Lawal     Sardauna Of Ilorin     Ghali Muhammed     John Kehinde Salako     Bolaji Aladie     Sam Onile     Bello Oyebanji     Anilelerin     Durosinlohun Kawu     Abraysports FC     Kolawole Akande     Maimunat Oniyangi     Abdulfatai Salman Baakini     Lateef Fagbemi     Christopher Ayeni     Aso Ofi     Shuaib Abdulkadir     Quareeb     Baba Idris     Modibo Kawu     Universal Basic Education Commission     Matthew Okedare     Adegoke Bamidele     Charles Ibitoye     Abdulganiyu Salahudeen     Sam Okaula     Saka Asiat Ayinke     Split Diamond Interchange     Saliu Ajia     Mohammed Jimoh Faworaja     Abdulrauf Yusuf     Salami Adekunle     Kwara State Polytechnic     International Public Sector Accounting Standards