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.

Firdaos Amasa     Alikinla     Jimoh Olusola Imam     Computer Based Test     Emir Of Lafiagi     Abdulrasaq Alaro     Tsado Manman     Durbar Festival     Victor Gbenga Yusuf     Mahmud Babatunde Baker     Gbadeyan Gbadura Yomi     MMWG     Ayedun     Amina El-Imam     Jelili Yusuf     Roseline Oni Aremu     PAACO-PCL Consortium     Bolaji Nagode     Kwara     Funmilayo Braithwaite     Isaac Gbenle     Olaiya Victor Mobolaji     KWASSIP     Olofa Of Offa     Abdulkadir Orire     Tuesday Assayomo     Yusuf Olaolu Ali     Colleges Of Education Academic Staff Union     UITH     Abdul-Rasheed Na\'Allah     Oke-Oyi     Yusuf Lawal     AbdulHamid Adi     Babajide Ajayi     Lola Olabayo     Saheed Popoola     SSA Youth Engagement     Millennium Development Goals     Student Learning Support Helpline     Hamidu Olowo     Nigeria Customs Service     Ahmad Uthman     Zulu Gambari     Alfa Modibbo Belgore     Dar-Al-Handasah Consultants     Orire     Prince Sunday Fagbemi     Abdulquawiy Olododo     Akande Idowu Ayoola Muhammed     Ganmo     Allocation     Kwara State Governor     Toyosi Thomas     Yakub Ali-Agan     11th Galadima     Olosi Of Osi     MAI Akande     Hakeem Idris     CACOVID     JUSUN     Adedayo Yusuf Abdulkareem     Saba Jibril     Tunde Kazeem     Onikijipa     AGILE Programme     Lucky Omoluwa     Ayobola Ipinlaiye     Ayobami Akanbi     Ilesha Gwanara Road     Junior Secondary School Certificate Examinations     Tope Daramola     Ayodele Shittu     Abdulkadir Remi Hawawu     Kwara Restoration Project     07039448763     Unicontinental Construction Company     Folajimi Aleshinloye    

Cloud Tag: What's trending

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

JSSCE     Salihu Alhaji Musa     Oba Abu     Aremu Odolaye     Amosa     Joseph Alex Offorjama     Shuaibu Yaman     Raji AbdulRasaq     Sa\'adatu Modibbo-Kawu     Prince Mahe Abdulkadir     Moshood Mustapha     Afolabi-Oshatimehin     Yeketi     Saduki Lafiagi     Pilgrims Board     PPS     Ebun-Olu Adegboruwa     ENetSuD     Abdulmajeed Abdullahi     Haashim Initiative For Community Advancement     Bola Iyabo Ibiyeye Adisa     Ayoade Akinnibosun     Peter Obi     Razak Atunwa     IHS Towers     Opolo Global Innovation Limited     Christopher Odetunde     Abdulquowiyu Olododo     Oniye     Hassan A. Saliu     Bisi Oyeleke     Pacify Labs     Oke-Odo     Toyin Abdullahi     Ajibola Saliu Ajia     Zulu Gambari     Muhammad Akande Olarewaju Odunade     National Association Of Nigerian Students     Gobir     Saka Balikis Kehinde     Mope Dasuki Belgore     Muideen Olaniyi Alalade     Kwara State Coalition Of Business And Professional Associations     Ilorin Descendants Progressive Union     Tunji Ajanaku     Kannike     Mohammed Saidu     M.Y. Abdulrahaman     Valsolar Consortium     Abdulwaheed Musa     Abdulazeez Arowona     Amina El-Imam     Akom Construction And Engineering Synergy Ltd     Oloruntoyosi Thomas     Rafiu Ajakaye     Kanu Agabi     Salihu Jibril Garbi     KWTV     Oni Adebayo     Segun Ogunsola     MalHub     RTEAN     Photo News     Sunday Popo-Ola     Lateef Ademola Olatunji     Abdulganiy Abimbola Abdussalam     Oyedepo     Emmanuel Olatunji Adesoye     Lai Mohammed     Mohammed Lawal     Wakilin Mata Lafiagi     Academic Staff Union Of Universities     AbdulHamid Adi     Babatunde Idiagbon     Markaz Arabic And Islamic Training Institute, Agege     Tuesday Assayomo     Cassava Growers\' Association