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.

Ilorin Like-Minds     James Kolo     Olanrewju Okanlawon Musa     Adebara     Muslimah Entrepreneurship Forum     John Olajide Adedipe     2017 Budget     Kpotum Mohammed Baba     Ishak Mohammed Sabi     Odo-Owa     College Of Education     Babs Iwarere     Alagbado     Adamu Attah     Yahaya Jibril Usman     AbdulRazaq AbduMajeed Alaro     Elections     Sidikat Uthman Ajibola     Bayo Mohammed Onimode     Aminat Ahmed     Mufutau Olatinwo     Rashidi Yekini     Titus Ashaolu     Babajide Ajayi     AbdulRazaq Jiddah     Amoyo     REO CAKES     Kwara Basketball Association     Jalala     ARMTI     Naira Redesign     Magaji Nda     Y.A. Abdulkareem     Elekoyangan     Senior Ibrahim Suleiman     Kubra Kazum     Local Government Pension Board     Aliyu Adebayo     Sulyman Buhari     Dan-Kazeem     Simon Sayomi     Emmanuel Bello     Kale Bayero     Iyabo Adisa Ibiyeye     Chief Imam Of Lafiagi     Waziri Yakubu Gobir     Old Oyo     Aasiyat Bello Oyedepo     Salihu Ajibola Ajia     Kawu Baraje     Arca Santa     Mahmud Durosinlohun Atiku     Tricycle Owners Association Of Nigeria     Kehinde Boyede     Kwara Poly     Bello Abubakar     Ahmad Lawan     Onilorin     Abdulfatai Salman Baakini     Ilesha-Baruba-Gwanara     Ajibike Katibi     General Tunde Idiagbon International Airport Ilorin     Mustapha Akanbi     Marafan Shonga     Labaeka     Hassan A. Saliu     Tafida Of Ilorin     Alanamu     Amada Jidda     Elerinjare     Kayode Oyin Zubair     Isapa     Yusuf A. Usman     Adesoye College     Tayo Alao     Oloriegbe     Kwara State Governor    

Cloud Tag: What's trending

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

Abdulkarim Adisa     Overland     Umar Gunu     Unilorin     Mustapha Akanbi     Quareeb     Illyasu Abdullahi     Rice Farmers Association Of Nigeria     Oniyangi Kunle Sulaiman     John Kehinde Salako     Otunba Taiwo Joseph     Egbewole     Earlyon Technologies     Osi     Trader Moni     Suleiman Mora Omar     Abdulrosheed Okiki     International Public Sector Accounting Standards     Firdaos Amasa     Bolakale Kawu Agaka     Yahaya Dumoye     Ijagbo     Alabi Lawal     Chartered Institute Of Personnel Management Of Nigeria     Sola Saraki Educational Foundation     Isiaka Yusuf     Bashir Omolaja Bolarinwa     Okin Malt     Lawyers Unite Against Corruption     Shoprite     Kawu Baraje     Share     Kayode Yusuf     Nigeria Foundation For Artificial Intelligence     FERMA     Muhammed Aliyu     Funmi Salau     Babatunde Idiagbon     Iqra Books     Sulyman Age AbdulKareem     Salihu Yahaya     Gurei     Shehu Jimoh     SWAN     Ashiru     Offa     Yinka Aluko     Jani Ibrahim     Sai Kayi     Eruku     Benin Republic     Tunji Ajanaku     Garba Ayodele Wahab     Ahman Patigi     Igosun     Donatus Ejidike     Hameed Oladipupo Ali     Ilorin East/South Federal Constituency     CCEPE     Kale Bayero     Moses Salami     Lanre Olosunde     Rebecca Bake     Dankaka     Irepodun     Muslimah Entrepreneurship Forum     Bamidele Adegoke     Abdulwahab Olarewaju Issa     Gbenga Olawepo     Oya State     Funmilayo Isiaka Oniwa     Wahab Egbewole     Ibrahim Abiodun     Yakubu Dogara     Elesie Of Esie     Ilorin Descendants Progressive Union     Muhammad Toyin Sanusi