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.

ASUU     IFK     Baruten     KWASEIC     Olofa Of Offa     Lateef Ademola Olatunji     Bashiru Makama     IPSAS     Moshood Mustapha     Temitope Ogunbanke     Abdulmumini AbdulRazaq     Halimah Perogi     CBT     Adedipe     Coalition Of Kwara North Groups     Jide Ashonibare     Yahaya A Paniyaro     Musa Abdullahi     Afonja     Saka Balikis Kehinde     John Olobayo     Elerin Of Adanla Irese     Abdulkarim Adisa     Kayode Laro     Offa Descendants Union     Funke Adedoyin     Tunji Arosanyin     Budo-Egba     Akume     Shehu Raheem Adaramaja     International Aviation College     Clement Yomi Adeboye     Bello Oyedepo     Nigeria Association Of Women Journalists     Adamu Ibrahim Sabi     Abubakar Baba Sulaiman     Saka Saadu     Aliyu Salihu     IYA YUSUF     Kayode Oyin Zubair     Peter Obi     Jimba Babatunde     Police Commissioner     Mohammed Lawal     Isiaka Yusuf     Special Adviser On Digital Innovation     Gbenga Adebayo     Ayotunde Emmanuel Alao     Hauwa Nuru     Muhammed Aliyu     Ilota     Simeon Sayomi     Babatunde Ishola Babaita     Abdullahi Adisa Akodudu     Muhammad-Mustapha Suleiman     Kazeem Oladepo     Pakata Patriots     Share/Tsaragi     Michael Ologundea     Centre For Peace And Strategic Studies     Alikinla     Village Alive Development Association     Mustapha Olanipekun     Ademola Kiyesola     2023 Elections     Ibrahim Abdulqadir Abikan     Wahab Abayawo     Bureau Of Lands     Aliyu Kora-Sabi     Sadiq Buhari     Special Agro-industrial Processing Zone     Sa\'ad Alanamu     Patience Jonathan     Akanji     Yaman     Toun Okewale-Sonaiya     CCB    

Cloud Tag: What's trending

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

Omupo     KSIRS     Kanu Agabi     Taofik Mustapha     Mohammed Lawal     Sabi     Makama     Yekini Adio     National Broadcasting Commission     New Model Police Station     Kazeem Adekanye     Hakeem Idris     Chief Imam Of Lafiagi     CUTI     Olabode George Towoju     Kulende     Tanke Road     Abubakar Usman Jos     Kassim Babamale     CT Ayeni     Ghali Muhammed     AGILE Programme     Unilorin FM     Zara Umar     Lucky Omoluwa     Hamidat Sulyman-Yusuf     Afolabi-Oshatimehin     Allocation     Shuaib Abdulkadir     Bashir Adigun     Maryam Nurudeen     Emir Of Ilorin     Bayo Ojo     Amuda Musbau     Owo Isowo     Balikis Jawondo     Saliu Ajia     Opobiyi     Ayobami Akanbi     Danhawa     Rueben Parejo     Marufat Oladosu     Hassanat Bello     High Court     Ilorin General Hospital     Ogbondoroko     LAK Jimoh     Kwara Consultative Forum     Olomu     Ganmo     Matthew Babaoye     National Association Of Nigerian Students     ASKOMP     Kolawole Akande     Ballah     Saadu Gbogbo Iwe     NAWOJ     Owode Market     Agbarere     Onilorin Of Ilorin     Nigeria Foundation For Artificial Intelligence     Fawenu     Femi Ogunsola     Shonga     Ibrahim Sulu Gambari     School Of Nursing     UNILORIN Alumni     Taofeek Sanusi     Memunat Monsuma     TVC Female National Debate     Ilorin Emirate Stakeholders Forum     Idris Amosa Oladipo Saidu     Afin Descendants Union Of Odo-Owa     Owu Fall     Yinka Aluko     KFA     Egbejila