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.

Lasiele Alabi Yahaya     Sidikat Alaya     KFA     Razak Atunwa     Principal Private Secretary     AbdulRazaq Jiddah     Abdulmalik Bashir Mopelola Risikatullahi     Agbarigidoma     Arandun     Kwara State Polytechnic     Muhammed Mahe Abdulkadir     Admiralty Villa     Col. Taiwo     Boko Haram     Muhammadu Gobir     Sulyman Abdulkareem     Yaru     Firdaos Amasa     Suraj Tunji Oyewale     Vasolar-Kwara Company Ltd     Alfa Yahaya Road     Madawaki Of Ilorin     Ayodele Olaosebikan     Bello Taoheed Abubakar     BIR     Assayomo     Afin Descendants Union Of Odo-Owa     Kulende-UITH     Abdulrahman Iliasu     Raliat Elelu-Habeeb     Sunday Otokiti     Okedare     Olatomiwa Williams     Millennium Development Goals     Magaji Nda     NFAI     Amuda Musbau     Tosin Saraki     Www.Kwarareports.com     Yakub Lai Gobir     Royal FM     Olayinka Jelili Yusuf     Jumoke F. Ajao     Bilikisu Oniyangi     Park     Babatunde Ishola Babaita     Ile Arugbo     Osinbajo     Victor Gbenga Yusuf     HYPPADEC     Akanji     Jawondo     Haleeman Salman     Tanke Road     Irepodun     Fareedah Dankaka     SSA Youth     Tunji Ajanaku     Musa Aibinu     Saadu Alanamu     Abubakar Kawu Baraje     Naira Redesign     Baba-Isale     Yakubu Danladi     Vasolar Consortium     Dankaka     Yakubu Mohammed Abdullahi     Umar Gunu     Ilorin Amusement Park     Eleyele     Bashir Adigun     Amos Sayo     Kayode Ishola     Balikis Jawondo     Colleges Of Education Academic Staff Union     Fatai Olodo     Afonja    

Cloud Tag: What's trending

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

Adebayo Mohammed Kamaldeen     Saliu Shola Taofeek     Saka Saadu     Jalala     Ilorin     Women Radio     Kwara State Sports Commission     Bola Ahmed Tinubu     Saliu Mustapha     Computer Based Test     Oyun     Atiku     Nigeria Customs Service     Shaykh Luqman Jimoh     New Model Police Station     Olabimpe Olani     Razaq Atunwa     Joshua Adeyemi Adimula     Lateef Fagbemi     BIR     Gamji Members Association     Shehu Raheem Adaramaja     Ope Saraki     Ibraheem Abdullateef     Idiagbon     Muslimah Entrepreneurship Forum     Bibire Ajape     Abdulrasheed Lafia     Ahmed Saidu Rufai     Arinola Fatimoh Lawal     Otuka     Saheed Alakoso     Okiki     Durbar     Haruna Tambiri Mohammed     Kwara State Health Insurance Agency     Wasiu Odewale     Ndakene     Yemi Sanni     Isiaka AbdulRazaq     Valsolar Consortium     Oba David Oyerinola Adedunmoye     Oasis Muslim Care Foundation     Aliyu Muyideen     T And K FOODS     Share     Saadatu Modibbo-Kawu     Yusuf Abdulkadir     Haliru Yahaya     Lasiele Alabi Yahaya     Y.A. Abdulkareem     Shehu Alimi Foundation For Peace And Development     Baba Issa Awoye     Nagode     Boko Haram     IQRA College     Nigeria Foundation For Artificial Intelligence     Roseline Oni Aremu     Islamiya Abdulraheem     Oyeyemi Olasumbo Florence     Aliyu U. Tilde     Kunbi Titiloye     Kwara Basketball Association     Oko-Erin     Yusuf Aiyedun     2023 Elections     Olawuyi     Ijakadi     Tunde Saad     Undergraduate Bursary     Ifelodun     Abdulwahab Olarewaju Issa     Onikijipa     Ibrahim Agboola Gambari     Sheikh Alimi     Tafida Of Ilorin     Academic Staff Union Of Universities