Hammed Shittu in Ilorin
Kwara State government on Sunday said that, it has so far disbursed the sum of N430, 388, 359.24 as subventions to seven of the State-owned tertiary institutions in 2016.
It also said 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.
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.
Further details later