Ahmed inaugurates committee on Infrastructure Development Fund
Governor Abdulfatah Ahmed of Kwara has inaugurated a high-level implementation committee for the Kwara State Infrastructure Development Fund (IF-K).
Speaking during the inauguration on Sunday, Ahmed charged members to create a programme funding plan for all ongoing and new projects across the State.
The governor described IF-K as a stand-alone funding scheme, which offers a reliable funding window for infrastructural projects in the state
He explained that in view of the current economic realities, it was imperative for the State government to devise alternative funding options to meet its obligations and carry out developmental projects for the benefit of the people.
Gov Ahmed disclosed that IF-K will be managed by trustees, who are independent of the State government.
He added that capital projects executed under the scheme will also be inspected by independent project assessors in order to ensure that contractors comply with the required project standards.
The governor noted the infrastructure fund will be backed by initial seed money and an Irrevocable Standing Payment Order (ISPO), which will be sourced from the State’s internally generated revenue monthly.
According to him, IF-K will give project contractors the confidence to borrow money to execute projects knowing full well that payment was guaranteed by the fund which is backed by the Kwara State Public and Private Partnership Law 2015.
Ahmed assured that all ongoing projects will be funded to completion under the IF-K while new capital projects will also be delivered.
The governor said new projects that will be executed include the construction of two new campuses for the Kwara State University at Osi and Ilesha-Baruba and the renovation and equipping of Ilorin Stadium Indoor Sports Hall.
Others are the construction of the Geri-Alimi Diamond underpass and the new Civil Service Secretariat.
He said the implementation of the Light-Up Kwara project, which will comprise of the installation of streetlights across major centres in the State will also be captures under IF-K.
Ahmed urged members of the committee to discharge their responsibilities effectively.
He also charged them to ensure that all necessary structures needed for the successful implementation of the IF-K scheme are put in place and be mindful of time frame for all projects.
Members of the IF-K implementation committee are the Chief of Staff, Alhaji Abdulwahab Babatunde and Commissioner for Finance, Alhaji Demola Banu.
Others are Director-General of the State Bureau of Public Private Partnership (KP3), Mr. Yomi Ogunsola and the Chairman, Kwara State Internal Revenue Service (KWIRS), Dr Muritala
The rest were the Special Adviser to the governor on Infrastructure, Yinka Olaoye and Senior Special Assistant, Government House, Alhaji Ibrahim Adeyemi.
Members of the committee also include Senior Special Assistant on Media and Communications, Dr. Muyideen Akorede and Assistant Director at KP3, Mrs Mosunmola Shaaba Lafiagi.