Kwara State government says it has so fardisbursed the sum of N430, 388,
359.24 as subventions to seven of the
State-owned tertiary institutions in
2016, noting that an outstanding balance of
N86, 996,421.7 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 on Sunday, explained 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
hitherto being collected by the
institutions.
Alhaji Banu added that government had
stopped subventions to Kwara State
Polytechnic and the Kwara State College of
Health Technology, Offa as their
IGR is enough to guarantee smooth running
of the schools.
The Commissioner called on the
management of all the state-owned
institutions to be more innovative and
resourceful in generating revenue
for their schools, adding that the situation
where government’s subventions
are spent only on recurrent expenditure was
not sustainable.
He also said that school authorities should
be prudent in the utilization
of financial resources in order to make their
institutions gain some degree
of financial autonomy.
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