FG stalling our move to access N23b bond -KWSG ...targets N1.5b IGR
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" .
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Yakub Ali-Agan ARMTI Olatomiwa Williams Kwara 2015 MATTA Girls Foundation Bluenile Associates Lanre Jimoh Ashiru Lanre Issa-Onilu Abiodun Abdulkareem Abubakar Imam Marafan Shonga Jide Ashonibare April 11 Lai Mohammed Abdullateef Abdussalam 20 Billion Bond SARS Abdullahi Saadudeen Alikinla Centre For Digital Economy Onilorin Offa Grammer School Ilorin South Constituency Abdulazeez Arowona Hassan Oyeleke New Nigeria People’s Party James Ayeni Abdulrazak Shehu Akorede Adamu Attah Oniwa Kwara Primary Health Care Development Agency Benin Republic Special Adviser On Digital Innovation TVC Female National Debate Kwara Liberation Group Otunba Taiwo Joseph Kolawole Akande Gbadeyan Gbadura Yomi Bareke Kunle Akogun Bankole Omishore Salihu Alhaji Musa Olokoba Abdullahi Ayinla Justina Oha Ilorin Innovation Hub Toyin Olayinka Tejidini Kwara Muslim Pilgrims Welfare Board Oko-Olowo Ohoro Of Shao Aso Ofi Dogara Sayomi Dorcas Afeniforo Ibrahim Abduquadri Abikan Olumide Daniel Ibitoye Rex Olawoye Kwara Pdp John Kehinde Salako Abdullahi Samari Fatai Olodo Erubu Oba Zubair Nurudeen Mohammed Abdulrauf Yusuf Aliyu Umar Oloriegbe Kayode Ogunlowo Plat Technologies CCT Rabiu Kwankwaso Senate President Monsurat Omotosho Olajumoke Monsura Gafar Elese Of Igbaja Grillo Dairo Kunle Paul Congress For National Consensus Ekweremadu

