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.

Abdulquawiy Olododo     Akeem Olatunji     Harmony Holdings     Makama     Adam Abdullahi Al-Ilory     AbdulFatai Adeniyi Dan-Kazeem     Sidikat Akaje     Sanusi Abubakar     Share     Kwara South     Yusuf Mubarak     JMK Construction Company Limited     Ganiyu Taofiq     Ilorin Airport     Shade Omoniyi     Abubakar B.M     Abdullahi G. Mohammad     Bature Bello     Durbar     COVID-19 Palliatives     Apado     ER-KANG Mining     Aro Yahaya     ASMAU PLAZA     Okanlawon Musa     Christian Association Of Nigeria     Academic Staff Union Of Universities     Khadijat Ayoola Yusuf     Kale Ayo     Abdullahi Dasilva Yussuf     Vishvas KOZ Tractors     Lanwa     Michael Nzekwe     Durosinlohun Kawu     Okin Group     Olaitan Buraimoh     Raheem Adaramaja     Abdulkadir Bolakale Sakariyah     Oye Tinuoye     Dogara     Mohammed Halidu     Oro Grammar School Old Students Association     VADA     Kwara State Geographic Information Service     Congress For National Consensus     Veterinary Teaching Hospital     Trade Lenda SME Fair     Col. Ibrahim Taiwo     Gobirawa     Bola Ahmed Tinubu     Abdulrazak Shehu Akorede     Alfa Modibo Belgore     Okeose Christian Cementary     Rapheal Ashaolu     Sadiq Umar     Communication Network Support Services     Lawal Olohungbebe     NULGE     Zaratu Umar     CKNG     Rabiu Kwankwaso     Kwara Consultative Forum     John Olajide Adedipe     Fatima Abolore Jimoh     Ilorin Durbar     Olofa Of Offa     Arik     KWSIEC     Olatunde Jare     Coalition Of Kwara North Groups     Erubu Oba Zubair     Moses Salami     Nigeria Association Of Women Journalists     Moses Afolayan     Abdulrauf Yusuf     Ganmo Electricity Sub-Station     Olayinka Olaogun    

Cloud Tag: What's trending

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

Yashikira     Awoye     Alaro     Mike Omotosho     Kabir Shagaya     Ile Arugbo     Abdulrasheed Lafia     Umar Gunu     Ilorin Talaka Parapo     Joseph Offorjama     Adamu Jemilat-Baki     TESCOM     Wasiu Odewale     Yoonus Lawal     Kwara State Printing And Publishing Corporation     Kemi Adeosun     Magaji Erubu     Volunteers Of Ilorin Community And The Emirate     Kwara Volleyball Association     Baba Isale     Local Government Pension Board     Ayeyemi Sulaiman     Abdulfatai Ahmed     NIRSAL     ER-KANG Mining     Orire     Idris Garuba     Muhammad Ghali Alaaya     Wahab Isa     Micheal Imoudu     Raliat AbdulRazaq     Government High School Adeta     Geri-Alimi Split Diamond Interchange     Laolu Saraki     Ilorin East/South Federal Constituency     Salihu Jibril Garbi     March 18     Alabi Lawal     Apaokagi     Ayo Adeyemi     Kaiama     Abdulrazaq Adebayo     Mohammed Kamaludeen     Abraham Ojo     Sheu Ndanusa Usman     Makama Of Ilorin     Adegoke Bamidele     Olanrewju Okanlawon Musa     Shettima     TETFUND     Zulu Gambari     NULGE     Abdulrahman Abdulrazak     Kunle Akogun     IsDB     Temi Kolawole     Chief Imam Of Ilorin     Abdulazeez Arowona     Kwara-SAPZ Project     Neuropsychiatric Hospital     Razak Atunwa     Owu Fall     CLAY POT     Lukman Oyebanji Fagbemi     Fatima Abolore Jimoh     Damilola Yusuf     NYSC     Ahmad Olanrewaju Belgore     Yusuf AbdulRasheed     Odolaye Aremu     Olomu     Oluranti Idowu     Jaiz Bank     Moshood Mustapha     Isiaka Yusuf     Sarkin Malamai     Khairat Gwadabe