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.

Simon Sayomi     Umar Gunu     Lucky Omoluwa     Onikijipa     Abdul Jimoh Mohammed     Offa Metropolitan Club     Kayode Laro     Orire     Oba Abdulkadir La\'aro     Yashikira     Nurudeen Mohammed     Kwara Polytechnic     KWASIEC     Vasolar     ER-KANG Mining Nigeria Company Limited     Curfew     Oluwarotimi Boluwatife Adenike     Malete     Government High School (GHS), Adeta     Yahaya Jibril Usman     Patience Jonathan     Edret Sabi Abel     Kawu     Abdulsalam A. Yusuf     Moses Adekanye     Eleja Taiwo Banu     Isiaq Khadeejah     Kwara State Infrastructure Development Fund     Ayeyemi Sulaiman     Omotoso     Olokoba Sulyman     Tunde Akanbi     Yaru     Baba Isale     Labaeka     Lanre Olosunde     Kolade Solagberu     Salaudeen Oyewale     Aso-ofi     Adam Abdullahi Al-Ilory     Isiaka Alikinla     Mufti Of Ilorin     Lawyers Unite Against Corruption     United Nigeria Congress Party     Ijakadi     Saba Mamman Daniel     Abdullahi Biffo     Sheriff Olanrewaju     Shururat Olatinwo     Modibbo Kawu     Alapado     Kayode Zubair     FERMA     AbdulRaheem Ahmad Shayi     Muhammed Abdullahi     Olaosebikan     Idowu Laro     Kwara State Internal Revenue Service     Seni Saraki     Abdulganiyu Oladosu     Salman Jawondo     JAMB     Ebola     Sarkin Malamai     Abdulquowiyu Olododo     Durosinlohun Atiku     Adamu Jemilat-Baki     Segun Adeniyi     Ilesha Gwanara Road     Taofeeq Olateju     Women For Change And Development Initiative     Mahmud Ayinla Giwa     Shuaibu Yaman     Esinniobiwa Quareeb     Unilorin     Olaitan Adefila     Adeniyi Ojo    

Cloud Tag: What's trending

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

Usman Yunusa     Kwara State Council Of Chiefs     Illyasu Abdullahi     Mahee Abdulkadir     Police Commissioner     Saad Belgore     JSSCE     Bluenile Associates     Abdulkareem Alabi     Bank Of Industry     Ademola Kiyesola     CCEPE     Issa Memunat Moyosore     Tope Daramola     Abdullahi AbdulMajeed     Kaiama     Adamu Ibrahim Sabi     Aliyu Kora-Sabi     Roseline Oni Aremu     Radio SBS     Kazeem Adekanye     N-Power     Baba-Isale     Kwara State Health Insurance Agency     Harafat E. Mukadam     Ahmed Shuaib Buranga     AbdulGaniyu Kareem     Edu     Olatunji Ayeni     MMWG     Kwasu     Adisa Logun     Mahe Abdulkadir     Mashood Abdulrafiu Agboola     Ubandoma     Salihu S. Yaru     Galadiman Ngeri     Mohammed Katsina Ahmed     Bello Oyedepo     Inside Kwara     Kwara Metro Park     Adamu Jemilat-Baki     Olatunji Bamgbola     Budo-Egba     Muhammad Ghali Alaaya     Yusuf Lawal     Abdulrahman Abdulrasak     Oloyede     Crystal Corner Shops     Sobi Specialist Hospital     Zulkifli Ibraheem     Afusat Nike Ibrahim     Aremu Bose Deborah     Oyin-Zubair     Susan Modupe Oluwole     Tuesday Assayomo     Henry Makinwa     Millennium Development Goals     Kayode Oyin-Zubair     General Tunde Idiagbon International Airport Ilorin     Tunji Olawuyi     Haleeman Salman     Ahmed Mohammed Rifun     Col. Adedipe     ITP     Busari Alabi Alausa     Al-Hikmah University     Magaji Erubu     Sidikat Akaje     Unilorin     Muhammadu Gobir     Timothy Akangbe     Eghe Igbinehin     Shehu Jimoh     Kisra     Olumide Daniel Ibitoye     Waheed Ibrahim