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.

Raji Ayodele Kamaldeen     Mutawali     Taiwo Joseph     Adolescent Girls Initiative For Learning And Empowerment     Hydroelectric Power Producing Areas Development Commission     Segun Abifarin     Yomi Ogunsola     Wahab Kunle Shittu     Ahmed Ayinla Jimoh     Clara Nwachukwu     Olatunji Moronfoye     Press Release     A.G.F Abdulrasaq     Ayobola Ipinlaiye     Gafaru Olayiwola Olorisade     Gobir     Centre For Digital Economy     Esuwoye     Yaru     Jimoh Akani     Olaiya Victor Mobolaji     Mamman Saba Jibril     Kishira     Mahee Abdulkadir     Na\'Allah     Hakeem Lawal     Mahmud Ajeigbe     Saka Aleshinloye     Tafida Of Ilorin     Sam Onile     MAI Akande     Ayodele Olaosebikan     Odo-Owa     Saeedat Aliyu     Yakubu Gobir     Adamu Attah     Wahab Olasupo Egbewole     Erubu     Haliru Yahaya     Lithium     Toyin Falola     Abubakar Olusola Saraki     3MTT     Centre For Peace And Strategic Studies     NSCIA     Isiaka Alikinla     Shagari     Code Of Conduct Bureau     Ayegbeni     Daud Adeshola     Irepodun     Ramat Oganija     Oko-Olowo     Otunba Taiwo Joseph     Hussein Oloyede     Yusuf Mubarak     Fatimah Abdulkadir     Chemiroy Nigeria Limited     Funmilayo Zubair     Agor     Coronavirus     Kwara Liberation Group     Simeon Sayomi     Abdulazeez Arowona     Dorcas Afeniforo     Makama     Oyawoye     Joseph Alex Offorjama     Mohammed Haruna     Saliu Ajia     Olam Food Ingredients     Smart School     Ebola     JAMB     Folashade Omoniyi     Kayode Ishola     Unilorin FM    

Cloud Tag: What's trending

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

Aishatu Ahmed Gobir     Isaac Gbenle     Garba Ado Sanni     Ajibike Katibi     Local Government Pension Board     Adebayo Mohammed Kamaldeen     Share/Tsaragi     Ganmo     Abdulrauf Aliyu     EndSARS     Offa Metropolitan Club     Tafidan Kaiama     Revenue Court     Haruna Tambiri Mohammed     Ben Duntoye     Femi Gbajabiamila     Aminat Omodara     Iyaloja-General     Bilikisu Oniyangi     Fatai Adeniyi Garba     Code Of Conduct Tribunal     Tafida     Sabo-Oke     Code Of Conduct     Alagbado     Facemasks     Zainab Abass     Tsaragi/Share     Ajakaye     Lithium Deposit     3MTT     Budo-Egba     High Court     Wahab Abayawo     Tescom.kwarastate.gov.ng     Ibrahim Bio     Olatinwo     V.O. Abioye     Ilorin Amusement Park     Gbemisola Oguntimehin     Bolaji Abdullahi     Adisa Logun     Nagode     Joseph Bamigboye     Olawuyi     Olusin Of Ijara Isin     Universal Basic Education Commission     Ayobola Ipinlaiye     Kwara Primary Health Care Development Agency     Suleiman Abubakar     Radio SBS     Bola Magaji     Bluenile Associates     Isapa     Ilesha-Gwanara     Sulyman Age AbdulKareem     Alanamu     Code Of Conduct Bureau     Sheikh Ariyibi     Zaratu Umar     Tunde Saad     University Road     Emmanuel Olatunji Adesoye     Ejidongari     Kwabes     Magaji Are     Abubakar Bature Sulu-Gambari     Millennium Development Goals     Fatimoh Lawal     Ilorin Innovation Hub     Sola Saraki University     HAMFAT Clinic And Maternity     Kayode Bankole     Quran     Ridhwanullah Al-Ilory     Fatimah Abdulkadir     Temitope Ogunbanke