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.

Yaman     Halimah Perogi     Federal Road Maintenance Agency     Bola Sagaya     Raliat Islamic Foundation     Col. Taiwo     Abdulrahman Abdulrasaq     Cornelius Fawenu     Isiaka Abdulrazak     Kwara United     Amule Elementary School     Bilikis Oladimeji     IHS Towers     Jumoke Monsura Gafar     Offa Descendants Union     Rafiu Ibrahim     Sunday Popo-Ola     Special Adviser On Digital Innovation     UITH     REO CAKES     Isaac Aderemi Kolawole     Overland     Iliasu     Ilorin Airport     Fola Consultant     Sambo Murtala     IFK     Lai Gobir     Share/Tsaragi     JAAC     Ganiyu Taofiq     Zara Umar     EFCC     Abdulquowiyu Olododo     Ojo Fadumila     Emir Of Shonga     Yusuf Arowosaye     Yunus Lawal     Ajibola Ademola Julius     Isau     Rasheed Jimoh     Aro Yahaya     Abdulrazaq Solihudeen     Kwara State Government     Unilorin     Oba David Oyerinola Adedunmoye     Baruba     Isiaka Danmeromu     Olusegun Adeniyi     Asa     HYPPADEC     Ilorin West     Raji Ayodele Kamaldeen     Bibire Ajape     Olaiya Lawal     Alao Ayotunde     Turaki Of Ilorin     Lafia Aliyu Korasabi     Kwara State Football Association     Ekiti     AGM Professional Services     Saad Belgore     2023 Elections     Bolaji Abdullahi     Kwasu     Prince Bola Ajibola     Split Diamond Interchange     Rasaq Jimoh     Rapheal Ashaolu     Mahmud Ajeigbe     Jimoh Akani     Kola Adesina     Ibraheem Adeola Katibi     Abdulkadir Akanbi-Oke     Ghali Alaaya     Mohammed Haruna     Towobola Abdulrahman Toyin    

Cloud Tag: What's trending

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

Haliru Dantoro     Gobir     KWASEIC     David Oyedepo     Funmi Salau     Sulu Babaita Isiaka     Zaratu Umar     Ojo Fadumila     Christopher Ayeni     General Tunde Idiagbon International Airport     Olubukola Kifayat Adedeji     NFAI     Saheed Alakoso     Oba Abdulrahim     IHS Towers     Nigeria Governors\' Forum     Erubu     VADA     Aliyu Kora-Sabi     Junior Secondary School Certificate Examinations     Arik     Mike Omotosho     Suwa-Arabs     AbdulRazaq Jiddah     Ahmed Alhasssan     Abdullahi Dasilva Yussuf     Abdulquowiyu Olododo     All Confederation Of Principals Of Secondary Schools     Economic And Financial Crimes Commission     Millennium Development Goals     Association Of Kwara State Online Media Practitioners     Saeedat Aliyu     Chief Imam Of Lafiagi     Modibo Kawu     Mogaji Aare     Ayobami Seriki     Funmilayo Isiaka Oniwa     Yoonus Kola Olatinwo     Mahee Abdulkadir     Ibrahim Abiodun     College Of Education     MAI Akande     Prince Sunday Fagbemi     Reuben Paraje     Adamu Ibrahim Sabi     Nigeria Association Of Women Journalists     Mustapha Olanipekun     Park     Abdullahi G. Mohammad     Ndakene     Bond     Gafaru Olayiwola Olorisade     Ahmad Fatima Bisola     Jide Oyinloye     Wahab Abayawo     Olatunji Moronfoye     Saba Jibril     Aliyu Olatunji Ajanaku     AbdulQowiy Olododo     Emir Of Shonga     Mahmud Durosinlohun Atiku     Adewuyi Funmilayo     Mumini Ishola Hanafi     SSUCOEN     Daud Adeshola     Ajase-Ipo     Awoye     Joseph Yemi Ajayi     ENetSuD     Adekunle David Dunmade     Tunde Yusuf     Overland     Ike Ekweremadu     Kwara State Branch Of The National Library     Ganmo     SDP     Salary