FG stalling our move to access N23b bond -KWSG ...targets N1.5b IGR

Date: 2015-01-14

The Federal Government came under severe criticism yesterday over its plot to starve state governments under the control of the opposition All Progressives Congress (APC) of fund.

In an exclusive interview with The Herald in Ilorin, the Kwara state Commissioner for Information and Communications, Prince Tunji Moronfoye, warned that such action was unhealthy for a democratic culture.

He noted that the Federal Government had taken the unfavourable action too far with an alleged instruction to financial institutions to decline lending the state government the required funds for infrastructural projects.

Moronfoye said although the state government was unperturbed with the political witch-hunt, the government at the centre had remained unyielding in turning some institutions of the government to willing tools in fighting perceived opponents.

He said in spite of the grand plot to render the state redundant financially, the state government has been operating with strict financial acumen.

"We have tried to access N23billion bond, it was refused by the Federal Government. We also attempted to access normal loans from the banks, they were also blocked by the Federal Ministry of Finance. Instruction had been given that we should not be borrowed money.

"The unfortunate thing about that is this; they are stopping the banks from doing business. Kwara State is economically and financially viable. We have paid the last bit of the former bond, which is N17billion bond, which Dr Bukola Saraki took when he was governor. We paid that on August 5, 2014. Everything was complete.

"So what is the basis for this. It is obviously political. And we have sent a political message as well that during the elections, we would not be intimidated, and we are going to stand by the APC".

Commenting on the austerity measures, the commissioner said the state government had adopted the approach long ago even before the current oil price slump in the international market.

The crude oil is now sold below $50 in the market with the bandwagon effect manifesting in the economy of developing nations, Nigeria inclusive.

Moronfoye lambasted the federal government for wasting the nation's scarce resources on frivolities.

Meanwhile, the commissioner told The Herald that the state government was targeting N1.5billion from this year as its monthly Internally Generated Revenue (IGR) in its current drive to develop the state, adding that the government would dwell on natural resources while tightening all financial loopholes.

He stated that the government would also generate more funds through small scale business, foreign direct investment as well as tourism sector.

He said, "at this point in time, we are oscillating between N600 and N800million per month, and what we want to do, is to jerk it up. At least, we should hit N1.5billion per month. We are going to tighten a lot of loopholes that made us to lose money.

"These are part of the reasons that you see our VIO on the streets, checking if people have paid for their licenses and others" .

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

AbdulRahman Saad     V.O. Abioye     Aminu Ado Bayero     Ajibola Ademola Julius     Zubair Folorunsho Erubu     Kwara State Coalition Of Business And Professional Associations     Shehu Jimoh     Lanwa     Ishola Balogun Fulani     Mazars Consulting     Special Agro-industrial Processing Zone     Aliyu Muyideen     Oro Grammar School Old Students Association     Abdulwahab Oba     Goodluck Jonathan     Earlyon Technologies     FOMWAN     Facebook     Ajia-Bako     Babajide Ajayi     Afusat Nike Ibrahim     Owo Arugbo     United Nigeria Airline     Abdulfatai Baakini     Naira Redesign     Turaki Of Ilorin     Kwara Poly     Yakubu Gobir     Lanre Badmas     Hassan Saliu     Raheem Adaramaja     Iqra Books     Abdulahi Abubakar Bata     AbdulFatai Adeniyi Dan-Kazeem     Abdulhakeem Amao     Victor Gbenga Yusuf     Amuda Aluko     Salami Adekunle     Ishola Abdullahi     TESCOM 2025     VADA     Olabanji Orilonishe     Barakat Community Secondary School     Michael Ologundea     Imam Gambari     Binta Sulyman     Kayode Issa     Amusa Bello     Saadu Yusuf     Segun Abifarin     Ahmad Olayiwola Kamaldeen     Isaac Aderemi Kolawole     Abubakar Ndakene     IQRA College     Mohammed Alabi Lawal     Abdulrauf Aliyu     Abdulfatai Salman Baakini     Kayode Zubair     Abdulkadir Akanbi-Oke     Ayobami Akanbi     Owu Fall     Saad Omo\'ya     Nnazua     New Naira Notes     Ibrahim Abdulqadir Abikan     Khadijat Ayoola Yusuf     Kwara State University Of Education     Razak Atunwa     Saheed Alakoso     Unicontinental Construction Company     Saka Balikis Kehinde     GANZY     Ayobami Seriki     Ilorin Metro Park     Radio SBS     Budo Egba     CELF    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Opaleke Bukola Iyabo     Grillo     Emir Of Yashikira     Ajikobi     Ilorin Innovation Hub     Olota Of Odo-Owa     Ghali Alaaya     Shero     Bello Oyedepo     Lawal Olohungbebe     Kwara Muslim Pilgrims Welfare Board     SWAN     Omotosho     Folaranmi Aro     The Herald     Tunji Moronfoye     Ademola Kiyesola     Suleiman Yahya Alapansapa     Lateef Fagbemi     Zubair Folorunsho Erubu     Gbugbu     Busari Toyin Isiaka     Nurudeen Muhammed     Monthly Sanitation     Democracy Day     Yahaya A Paniyaro     Kehinde Baale     AGILE Programme     Aminu Adisa Logun     State Bureau Of Internal Revenue     TESCOM     Akorede     Sobi Hill     Women For Change And Development Initiative     Chief Imam Of Ilorin     Ado Bayero     Bolaji Gambari     Opobiyi     KW-GIS     Ilorin South Constituency     Abiodun Oyedepo     Olayinka Olaogun     Femi Agbaje     Gbadeyan Gbadura Yomi     ARMTI     Oloye     Salihu Alhaji Musa     Kwara Poly     Ariyo     Shettima Of Ilorin     Computer Based Test     Ganiyu Abolarin     Kwara Volleyball Association     College Of Education     Alumni Association Of The Federal Polytechnic Offa     Ayodele Olaosebikan     Abdullahi Dasilva Yussuf     Rasheed Jimoh     Moshood Mustapha     Erin-ile     ANCOPPS     Adesoye College     Shade Omoniyi     Victor Gbenga Yusuf     Toun Okewale-Sonaiya     Funmilayo Oniwa     Shonga     Abdulrasheed Akogun     Sodiya     Sola Saraki Educational Foundation     Kwarareports     Kazeem Adekanye     KWACOBPA     Umaru Saro     Joseph Offorjama     Salau Kabiru Abdullahi     Raji Ayodele Kamaldeen