Ahmed suspends plan to raise twenty billion naira for infrastructure

By Taiwo Adediran
In Local News
Sep 29th, 2016

download-11Following the launching of the Kwara State Infrastructure Development Fund IFK, the state government says it has suspended plans to raise twenty billion naira bond from the capital market for infrastructure development, noting that the twenty billion naira has become unnecessary.

The state Governor Abdulfatah Ahmed who disclosed this in a statement signed by his Senior Special Assistant, Media and Communications, Doctor Muideen Akorede said ongoing and new projects by his administration will be funded to completion under the IF-K. Ahmed emphasized that while the bond remains a viable source of project funding, the IF-K is currently offers the state the most reliable, affordable and sustainable means of funding capital projects without relying on external borrowings.



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