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.

Mary Kemi Adeosun     Dan Masanin     Guber Aspirant     Park     Olayinka Olaogun     AbdulRazaq Jiddah     Azeez Salawu     Galadiman Ngeri     Omupo     Mustapha AbdulGaniyu     Summit University     Agboola Babatunde     Olubukola Kifayat Adedeji     Musa Alhassan Buge     Adebayo Mohammed Kamaldeen     Abdulmumin Yinka Ajia     Quareeb     Facemasks     Colleges Of Education Academic Staff Union     Abdulhakeem Adelaja Amao     Mahmud Durosinlohun Atiku     IF-K     Yusuf Abdulkadir     Ahmad Olayiwola Kamaldeen     Solomon Edojah     Lateef Fagbemi     Women For Change And Development Initiative     Timothy Olatunde Fadipe     Kwara Restoration Project     Simon Sayomi     Logun     Lai Mohammed     Gurei     Ahmad Lawan     Ajikobi     Jide Ashonibare     Haliru Dantoro     Zubair Folorunsho Erubu     Kulende-UITH     Oba-Solagberu     Afonja Descendants Union     John Obuh     Woro     Association Of Kwara State Online Media Practitioners     Senior Special Assistant On Student Affairs     Taofik Mustapha     KFA     James Ayeni     Ayekale     Moses Afolayan     Bamidele Aluko     Sheikh Ridhwanullah     Iponrin     Kwara Poly     Abatemi Usman     Ogbondoroko     Freshvine Nigeria Limited     Seun Bolaji     Yunus Oniboki     Funmilayo Zubair     TESCOM 2025     Unicontinental Construction Company     Dar-Al-Handasah Consultants Ltd     Saba Jibril     Umar Ahmed Gunu     Bukola Saraki     Saka Saadu     Www.Kwarareports.com     Oniyangi Kunle Sulaiman     Kola Bukoye     Wasiu Odewale     Olatunji Abdulmumeen     Oba Mogaji Abdulkadir     Arik     AbdulKareem Yusuf Danhawa     Ilorin Likeminds Foundation     Gamji Members Association    

Cloud Tag: What's trending

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

Oladipo Akanmu Tolani     Abdulfatai Baakini     Muritala Awodun     Abdulfatah Ahmed     Olatunji Bamgbola     Alliance For Democracy     Oluranti Idowu     Abdulraheem Olesin     Yekeen Alabi     Aro Yahaya     Joana Nnazua Kolo     Kwabes     Oniyangi Kunle Sulaiman     Offa     Abdulrahman Abdulrazaq     AbdulKareem Yusuf Danhawa     Ifelodun     Mohammed Katsina Ahmed     Fatimat Saliu     Baba Idris     Air Peace     Wahab Issa     Amusement Park     George Funsho Adebayo     Yinka Aluko     Toyin Abdullahi     Monsurat Omotosho     Igbaja     Aminu Ado Bayero     GRA     Sabo-Oke     Ibrahim Taiwo     Michael Imoudu National Institute For Labour Studies     Raliat Islamic Foundation     Agboola Abdulraheem     Sulyman Atolagbe Alege     Abdulrazaq Adebayo     Vishvas KOZ Tractors     Iliasu     Senate President     Muhammad Mustapha Suleiman     Suraj Tunji Oyewale     Baba Adini Of Kwara State     Shuaib Abdulkadir     Balogun Ajikobi     Aminu Adisa Logun     Isiaka Yusuf     Oyun     Lateef Alagbonsi     Ilorin West     Halimah Perogi     Kolawole Bashirat     PPS     Muhammad Fawaz Abubakar     Demola Banu     Ilorin West/Asa Federal Constituency     Dankaka     Maigida     Magaji Nda     Dogara     General Hospital     Ibrahim Bio     Ahmed Alhasssan     KWASAA     Ayeyemi Sulaiman     Siraj Oyewale     Suleiman Abubakar     Arca Santa     Aliyu Muhammed     Communication Network Support Services     Amos Sayo     Kwara State Branch Of The National Library     Shade Omoniyi     Segun Abifarin     Adesoye College     Yakub Ali-Agan     Lanre Badmas