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.

Solomon Edojah     Saliu Alamoyo     Curfew     GGDSS Pakata     Sheikh Ariyibi     Igbaja     Hussein Olokooba     Ahman Pategi     ER-KANG     Mohammed Tunde-Jimoh     Joseph Daudu     Senior Ibrahim Suleiman     John Obuh     MMWG     Olosi Of Osi     Government High School Adeta     Markaz Arabic And Islamic Training Institute, Agege     Tunji Arosanyin     Dele Momodu     Binta Abubakar Mora     University Road     Royal FM     Senate Presidency     Otunba Taiwo Joseph     Oko-Erin     Abdulquowiyu Olododo     SDP     Valsolar Consultoria     Akume     Ibrahim Abiodun     Federal Polytechnic Offa     Oba Abu     Yinka Aluko     Kwara State Fish Farmers Association     Crystal Corner Shops     IPSAS     Suleiman Alege Kuranga     Aliyu Kora Sabi     Federal Road Maintenance Agency     Trader Moni     Bolakale Ayo     Ministry Of Women Affairs And Social Development     JAAC     Olohungbebe     Playing Host     Third Estate     Adegoke Bamidele     Abdulrazaq Adebayo     Oba Mogaji Abdulkadir     Musbau A. Akanji     Oke-Ero     Abraham Ojo     Press Release     Mutawali Of Ilorin     Ilorin     Grillo     Road Transport Employers Association Of Nigeria     SSA Youth     Apaola     Kaosarah Adeyi     Nupe     Okin Biscuits     Oko Erin     Pius Abioje     Ilorin West     United Nigeria Congress Party     ITP     Idris Garba     Ibrahim Oloriegbe     Nigeria Customs Service     Ben Duntoye     Oke-Oyi     Emmanuel Bello     Mohammed Khadijat Kubura     AbdulRazaq Abubakar Jiddah     Mohammed Abdulahi     Sola Saraki Educational Foundation    

Cloud Tag: What's trending

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

Boko Haram     Femi Agbaje     Millennium Development Goals     Niyi Osundare     Emir Of Kano     Omoniyi M. Ayinla     Abdulmumini Sanni Jawondo     Peter Obi     Ilorin Like-Minds     CCB     Taofik Abdulkareem     Irepodun     Aishat Mohammed Lawal     Suleiman Idris     Salami Adekunle     Garba Dogo     Olusola Saraki     Agboola Babatunde     Harmony Holdings     Toyin Olayinka Tejidini     Idowu Aremu     Kwara State Fish Farmers Association     Amasa     Amos Justus Sayo     Erubu     Abubakar Abdullahi Bata     Chief Imam Of Offa     Islamiya Abdulraheem     Bibire Ajape     Curfew     Kwha.gov.ng     Kemi Adeosun     John Kehinde Salako     Issa Manzuma     Oloruntoyosi Thomas     Yahaya Oloriegbe     Just Event Online     Agbarere     Lanre Jimoh     Ojo Isekuse     Babs Iwarere     Bola Sagaya     Suleiman Alege Kuranga     Kwara TV     Donatus Ejidike     Ishaq Oloyede     Hakeem Idris     Shuaib Jawondo     Ilofa     Mopelola Abdulmaliq-Bashir     Suleiman Abubakar     Paul Olawoore     John Mayokun Dada     Abdulmumin Yinka Ajia     Kwara State Internal Revenue Service     Senior Special Assistant On Student Affairs     Bayer Nigeria Limited     Crystal Corner Shops     Kwara State Pension Board     Shonga Farm Project     COEASU     Shuaib Abdulkadir     National Information Technology Development Agency     Oyelere Oyinloye     Baruten     Mutawali     Tunde Oyawoye     Wale Oladepo     MAI Akande     Makama Of Kaiama     Oloye     Abdulwasiu Bolaji Adeyi     IQRA College     Ayodele Shittu     Dankaka     Omar Gambari     Bamidele Aluko