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.

Idris Garba     Pategi     Towoju     Otuka     Allocation     Otoge     V.O. Abioye     Rasaq Jimoh     Toyin Sanusi     Abdulhakeem Amao     Saka Balikis Kehinde     Face Masks     Ifelodun     Mohammed Ajia Ibrahim     Sa\'adu Gambari     Ajeigbe     Academic Staff Union Of Universities     Titus Suberu-Ajibola     Abdulrazaq Akorede     Shettima Of Ilorin     Kwara State University Of Education     NURTW     Joseph Yemi Ajayi     Dele Belgore     Marafan Shonga     Ibrahim Abdulkadir Abikan     Yusuf AbdulRasheed     Yoonus Kola Olatinwo     George Innih     Rafiu Olasile     Ibrahim Agboola Gambari     Bayo Onimago     Okedare     Toyin Abdullahi     Kazeem Adekanye     Mahe Abdulkadir     Photo News     Saad Belgore     Ariyo     Babatunde Ajeigbe     Kwara Teaching Service Commission     Umar Yakubu Jaja     Oluranti Idowu     Fatai Olodo     Post Utme     Lukman Oyebanji Fagbemi     Federal Neuro-Psychiatric Hospital     Omu-aran     Oko     Elewu     Budo Egba     Yusuf Zulu-Gambari     Old Oyo     Ayedun     Maja     Ibikunle Ogunleye     Innocent Okoye     Ajasse-Ipo     Sheriff Olanrewaju     Emmanuel Olatunji Adesoye     Bio Ibrahim     Aliyu Umar     Ibrahim Akaje     AbdulGafar Tosho     Towobola Abdulrahman Toyin     Samuel Olusegun Adedayo     GGDSS Pakata     Adesoye College     Kawu     Bolaji Nagode     20 Billion Bond     Ilorin Talaka Parapo (ITP)     Yusuf Abubakar     Tunji Folami     Abdulraheem Olesin     Yakub Lai Gobir     Onilorin Of Ilorin    

Cloud Tag: What's trending

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

Bolaji Gambari     Muhammed Mahe Abdulkadir     National Party Of Nigeria     Gobir     Balogun Ajikobi     Kwara State Health Insurance Agency     Memunat Monsuma     Samuel Adaramola     Omupo     Law School Scholarship     Hakeem Idris     Prince Bola Ajibola     Abdulraufu Mustapha     Dan-Kazeem     General Hospital     Ibrahim Abduquadri Abikan     Adedipe     International Aviation College     Rafiu Olasile     Ahmed Mohammed Rifun     Gwanara     Nupe     Shonga     Olaiya Lawal     Ilorin Emirate Stakeholders Forum     Zulu Gambari     Lotus Bank     Vishvas KOZ Tractors     Government High School (GHS), Adeta     Aminu Ado Bayero     Hakeem Lawal     Quran     Galadiman Ngeri     FERMA     Elerinjare     Atiku     Tsaragi/Share     Labour Party     ANCOPPS     Bashir Badawi     Ahman Pategi University     Arinola Fatimoh Lawal     Belgore     Kaiama     Durosinlohun Kawu     Bayer AG     Balogin Alanamu     Lawal Olohungbebe     11th Galadima     Sheikh Ridhwanullah     Ashiru     Ajibola Ademola Julius     Medview Airlines     Ijagbo Health Centre     Alore     AbdulFatai Adeniyi Dan-Kazeem     Council Of The Wise     Ilorin     College Of Health     Sheikh Ariyibi     KWASAA     Dankaka     Abdulwahab Olarewaju Issa     Millennium Development Goals     Imam Gambari     Kisira     Ogbondoroko     Rotimi Oyedepo     Olayinka Are     Amos Sayo     Young Progressives Party     International Public Sector Accounting Standards     Biliaminu Aliu     Awwal Jawondo     Raliat Islamic Foundation     Musibau Akanji     Seni Saraki