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.

Shuaib Jawondo     Ibrahim Abdulkadir Abikan     Kayode Ogunlowo     AbdulQowiy Olododo     Adesina Simon Sodiya     Afolasade Opeyemi Kemi     Aliyu Muyideen     Hussein Oloyede     Taibat Ayinke Ahmed     Abdulkareem Alabi     GAMA     Innocent Okoye     Memunat Monsuma     Kwarareports.com     Elerinjare-Ibobo     Mohammed Ibrahim     Kola Olota     Shururat Olatinwo     Issa Oloruntogun     Temi Kolawole     Hijab     Abdulganiyu Oladosu     Jimoh Saadudeen Muhammed     Abdulganiyu Salahudeen     Nurudeen Muhammed     University Road     Shehu Adaramaja     Ilorin Talaka Parapo (ITP)     Doyin Group     Minimum Wage     Ilorin South Constituency     Amasa     Toyin Saraki     07039448763     Saka Aleshinloye     Balogin Alanamu     Kwara State Pension Board     Olaosebikan     Amuda Musbau     Federal College Of Education (Special), Afon     Amusa Bello     Bello Abubakar     Iliasu     Bola Magaji     Alimi     Abdulwahab Olarewaju Issa     Solomon Edojah     Allocation     Apaola     National Party Of Nigeria     Raji AbdulRasaq     Rebecca Bake     Labour Party     Aisha Abodunrin Ibrahim     Aminu Ado Bayero     Ophthalmological Society Of Nigeria     Fatai Garuba Labaka     Ola Falade     Oniyangi     Ben Duntoye     Yahya Mohammed     Oko     Yahaya Seriki     Yahaya Dumoye     Kamoru Kadiri     Mohammed Abduraheem     Basit Olatunji     Surajudeen Akanbi     Hausa     Sunday Fagbemi     Adebara     SWAN     Orire     Grillo     Asa     Nigerian Medical Association     Elese Of Igbaja    

Cloud Tag: What's trending

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

Pakata Patriots     Sola Saraki Educational Foundation     Yusuf Ibitokun Sherifat     Offa Descendants Union     Katibi Ibraheem Adeola     Diagnostic Centre     Abiodun Abdulkareem     Eleja     KWIRS     Sanitation Exercise     Ahmad Belgore     Obayomi Azeez     Babajide Ajayi     Afolabi-Oshatimehin     Tunde Oyawoye     Erubu     Adamu B. Yaqubu     Mumeen Lah     Bankole Omisore     Onilorin     Hassan Oyeleke     Aliyu Muhammed     EFCC     Assayomo     Saidu Kawu     Matthew Babaoye     Isiaka Saka Opobiyi     Gamji Members Association     Oniwasi Agbaye     Kwara TV     CKNG     Bola Shagaya     Elerin Of Adanla     Alabe     Fulani     Tosin Saraki     Read With Me     Rabiu Kwankwaso     Salihu Yahaya     Abdulbaqi Jimoh     Ganmo     Taiwo Joseph     Oloruntoyosi Thomas     JSSCE     Lithium     Odo-Owa     Halimah Perogi     Adebara     Abdulrasheed Lafia     Federal Road Maintenance Agency     IDPU     Yoruba     Kwara University Of Education     Ubandoma     Bisi Oyeleke     Tinubu     Ahmed Bolaji Nagode     Ridwan Agboola     Elesie Of Esie     Oke-Kura     Transition Implementation Committee     Local Government Pension Board     SWAN     Jamila Bio Ibrahim     Ballah     Abdulkadir Remi Hawawu     Christopher Odetunde     Quran     Ilorin South     Ademola Kiyesola     Siraj Oyewale     Oyun     Freshvine Nigeria Limited     Abdulazeez Arowona     Olatinwo     Afetu Of Alabe     Oladipo Akanmu Tolani