Kwara State Government is to secure a N20billion bond to finance the development of infrastructure as part of efforts to reduce infrastructure deficit in the State.
The State Governor, Dr Abdulfatah Ahmed who announced this during a two day interactive session with a cross section of Kwarans on the proposed N20b bond said that the move became necessary in view of dwindling earnings from the federation account.
Governor Ahmed listed the new projects as including the construction of roads such as Kishi-Kaiama road, dualisation of two federal government roads; Zango-University of Ilorin Teaching Hospital Road and Michael Imoudu Road.
According to the Governor, additional campuses of the Kwara State University would be established in Ilesa-Baruba and Osi, 186 transformers would be dropped in communities across the State while equipment would be purchased for the state International Vocational Centre, Ajasse-Ipo.
Gov. Ahmed explained that the bond was the easiest and most viable option of financing development projects in order to overcome the states infrastructure deficits.
He assured Kwarans that his administration would not impose additional tax burden on them but loopholes in tax collection in the state would be blocked to increase the internally generated revenue of the State.
The Governor added that with improved internally generated revenue, the state would repay the bond within a period of seven years.
According to the governor, the communities would play active part in identifying the project of their choice as well as the implementation of the scheme in order to give the projects what the governor called “appropriate sense of ownership”.
A cross section of participants at the interaction sessions, in their remarks, supported the state government’s move to secure the bond.
They noted that such a move will ensure infrastructural development in the state, especially in the face of dwindling earnings from the federal revenue allocation.
