The Kwara State government says it has sofar disbursed the sum of four hundred and thirty point four million naira as subventions to seven of the State-owned tertiary institutions in 2016, noting that an outstanding balance of eighty six point nine million naira will be released this month.
The institutions include the Kwara State University (KWASU); Kwara State Colleges of Education in Ilorin, Oro and Lafiagi; Kwara State College of Arabic & Islamic Legal Studies, Kwara State College of Nursing, Oke-Ode and the Kwara
State School of Nursing and Midwifery, Ilorin.
The State Commissioner for Finance, Alhaji Demola Banu, who disclosed this in a statement signed and made available to royaltimes read that the government had reviewed the subventions accruing to the institutions by deploying mechanisms to block loopholes and wastages in the system.
Alhaji Banu said that after the review, it became obvious to the government that the internal revenues generated by some of these institutions were enough to meet their financial obligations.
He asserted that this necessitated the need for the State government to cut or stop the annual subventions that were hithlerto being collected by the institutions.