Kwara Govt. Launches Scheme To Aid Infrastructural Development

Kwara, Eid-el-Kabir, MuslimsThe Kwara State government has launched a scheme called Infrastructure Development Fund (IF-K) which the state government hopes would aid infrastructural development and cushion the effect of the economic recession.

According to the state government, the scheme would help ensure that funds are available for infrastructural development. It promised that the era of abandoned projects is over in the state.

At the Council Chamber of the Government House in Ilorin, where the ceremony to launch the scheme held, Governor Abdulfatah Ahmed explained that the IF-K was a tool to pool funds for infrastructure projects, optimally leverage on private sector resources for infrastructure development and channel state’s Internally Generated Revenue to directly impact economic diversification and growth strategies.

The Governor said that the fund was designed to ensure maximum quality assurance for asset and services procured by government and encourage broader and deeper interactions with the government and private partners.

“The fund will be financed through a five-billion Naira seed fund and a 500-million Naira monthly contribution from Internally Generated Revenue through an irrevocable standing payment order.

“With IF-K, all ongoing and new projects will be funded to completion before the end of the present administration.

“A board of trustees has been set up to manage and ensure payment to contractors devoid of political interference,” Governor Ahmed told the gathering.

While explaining the scheme to the various stakeholders at government house, the Director-General, Kwara Public Private Partnership and Chief Economic Assistant to the Governor, Mr Yomi Ogunsola, said that the state had joined leagues of sub-nationals that attract partnership for funding capital projects.

“The partners and stakeholders with the government will now rest assured of when to receive their money, as a trustee will be set up to monitor the projects and pay them,” he explained.

Mr Ogunsola described the IF-K model as a chain of systems that would make the state to remain viable, survive the worsening scarcity and improve the state economy.

While lauding the initiative of the state government in ensuring that delay in the payment of funding of projects is removed, a partner, Kola Ibrahim, urged the government to consider how inflation affecting the implementation of projects would be addressed since it was the fault of the government not to pay as and when due before now.

At the ceremony were stakeholders which include industrialists, bankers, captains of industries, traditional rulers, contractors, consultants and engineers.

International Community Will Help Nigeria Recover Stolen Funds – Buhari

Muhammadu Buhari and Traditional Rulers in the northPresident Muhammadu Buhari says that his administration has received firm assurances of cooperation from the United States and other countries on the recovery and repatriation of funds stolen from Nigeria.

Speaking at an audience with members of the Northern Traditional Rulers Council led by the Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar, President Buhari said that it was now up to Nigeria to provide the international community with the facts and figures needed to drive the recovery effort.

“In the next three months, our administration will be busy getting those facts and the figures to help us recover our stolen funds in foreign countries,”’ the President told the traditional rulers.

Citing the report submitted by the Ahmed Joda-led transition committee, President Buhari said that several revenue-generating institutions in the country have been compromised leading to a weak economy.

On insecurity, the President said that the traditional rulers could play a key role in stemming the terrorism and insurgency in Nigeria by assisting the government with cost-effective intelligence gathering.

President Buhari also assured the traditional rulers that his administration was working hard to end insecurity and terrorism in the country in the shortest possible time with the cooperation of neighbouring countries and the international community.

He acknowledged that Nigerians expect a lot from his administration and appealed for patience and understanding while his government works diligently to speedily overcome the huge national challenges it inherited.

Sultan Abubakar had earlier presented the Northern Traditional Rulers’ recommendations to the President on issues related to national development.

The Sultan told the President that as custodians of tradition and stakeholders in the Nigerian project, the traditional rulers had a responsibility to always advise political leaders on the “path of truth and justice.

“We have always advised our leaders, but their acceptance of our advice is their own prerogative,” the Sultan said.

The traditional rulers assured the President of their unflinching support for his administration’s efforts to fulfil its promises to Nigerians.