BIG STORY

Kwara Moves To Ensure Payment To Contractors

Published

8 years ago

August 24, 2016

In view of current financial challenges confronting states, the Kwara State government has designed a model to guarantee payment to contractors handling various projects across the State on quarterly basis and prevent project abandonment through non-payment. The model, through the Infrastructure Development Fund (IF-K) will provide sustainable funding for continuous infrastructure development through partnership with private sector to close the State’s N225b infrastructure gap.

Explaining the model to Contractors at an interactive Session held at the Government House on Wednesday, the Chief Economic Assistant to Governor Abdulfatah Ahmed, and DG, Kwara PPP Bureau, Mr. Abayomi Ogunsola said the IF-K would give contractors the confidence to borrow money to execute projects knowing fully well that payment is guaranteed and will be paid on stipulated dates.

Mr. Ogunsola explained that capital projects executed under the scheme would be inspected by independent project assessors in order to ensure that contractors comply with the required project standards.

He noted that N300m would be drawn monthly from the State’s internally generated revenue to IF-K to fund projects, assuring that all contractors who key into the scheme would be paid by the Trustee.

Mr. Ogunsola further noted that the partnership between the state government and contractors would lead to massive infrastructural development in the state.

Earlier in his opening remark, the alternate chairman, Alhaji Abdulwahab Babatunde said the government was taking the step to ease the challenges of funding projects in view of the prevailing economic challenges.

He said the scheme will also promote banking and non-banking financial intermediary participation in infrastructure funding, provide incentives and serve as catalyst to mobilizing appropriate private sector capital, efficiency and expertise for the state’s infrastructure projects.

Some of the contractors who spoke at the session while commending the state government for taking the bold step in closing infrastructural gap in the state urged the government to factor in the fluctuating foreign exchange in the partnership.

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BIG STORY

JUST IN: Education Minister Reverses 18-Year Age Limit For Admission

Published

7 hours ago

November 5, 2024

PorscheClassy News

The newly appointed Minister of Education, Dr. Tunji Alausa, has announced the removal of the 18-year age limit for admission into tertiary institutions in Nigeria.

He also indicated the possibility of a comprehensive review of the nation’s education policy.

However, Alausa made it clear that there would be no reversal of the Federal Government’s decision to invalidate over 22,700 degree certificates acquired by Nigerians from unrecognized universities in neighboring Togo and the Benin Republic.

Speaking at his inaugural ministerial press conference in Abuja on Wednesday, Alausa emphasized that practical education is key to tackling Nigeria’s unemployment crisis. He stated that tertiary institutions must stop producing graduates without ensuring job opportunities for them.

The minister also revealed plans for the federal government to partner with private sector players to provide training opportunities for students and help them realize their full potential.

Additionally, Alausa announced that universities focused on agriculture would be empowered to implement commercial farming practices as part of efforts to address the country’s food security challenges.

More to come…

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BIG STORY

JUST IN: 114 Released #EndBadGovernance Protesters Arrive Presidential Villa

Published

8 hours ago

November 5, 2024

PorscheClassy News

One hundred and fourteen #EndBadGovernance protesters, including minors and adults acquitted by the Federal High Court in Abuja, have arrived at the Presidential Villa.

The protesters, initially arraigned by the Police Force, were released following a court ruling by Justice Obiora Egwatu.

The case was dismissed at the request of the Attorney General of the Federation (“AGF”), Lateef Fagbemi.

Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, is set to officially receive the released protesters.

They are then handed over to their respective Governors, specifically Uba Sani of Kaduna and Abba Yusuf of Kano.

Ministers present at the State House Auditorium in Abuja for the reception include: Tunji Alausa (“Minister of Education”); Nentawe Yilwatda (“Minister of Humanitarian Affairs and Poverty Reduction”); Balarabe Lawal (“Minister of Environment”) and Tanko Sununu (“Minister of State for Humanitarian Affairs and Poverty Reduction”).

Also, Senior Special Assistant on Community Engagement for the Northwest, Abdullahi Yakasai, is in attendance.

Other dignitaries present are Deputy Senate President Jubrin Barau and Chairman, House of Representatives Committee on Appropriation, Abubakar Bichi.

More to come…

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