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.

Adaramaja     Patience Jonathan     Tinubu     Garment Factory     Alabi Olayemi Abdulrazak     Saka Balikis Kehinde     Aliyu Adebayo     QuickWin     NURTW     Olatunde Oyeyiola     International Aviation College     Colleges Of Education Academic Staff Union     Olaiya Lawal     Ebun-Olu Adegboruwa     Salake     Amos Sayo     Joseph Daudu     Saliu Mustapha     KWASAA     Ibrahim Abdullahi     Offa     Shagari     SSUCOEN     Offa Poly     Oba Mogaji Abdulkadir     Saad Belgore     Seed Technologies     Bolakale Saka     Yusuf Babatunde Abdulwahab     Abdulrazaq Sanni     University Road     Shuaib Jawondo     Wahab Agbaje     Ajikobi     FERMA     Alagbado     T And K FOODS     Ogidi-Oloje     Memunat Monsuma     Oyawoye     Seun Bolaji     Oya State     MalHub     Tunji Moronfoye     Abdulkadir Jimoh     Ilesha-Gwanara     Doyin Agbamu     Law School Scholarship     Busari Toyin Isiaka     Arandun     Temi Kolawole     Hamza Usman     A.E. Afolabi     Ayinde Oki     Oyelere Oyinloye     Tafidan Kaiama     Ambassador Kayode Laro     Ibraheem Adeola Katibi     Jare Olatundun     Galadiman Ngeri     Segun Olawoyin     Ashiru     Razaq Atunwa     Plat Technologies     Inside Kwara     Michael Nzekwe     Sarah Alade     Alfa Modibo Belgore     April 11     Ayoade Akinnibosun     Radio Kwara     Mogaji Aare     Abdulrazak Shehu Akorede     Academic Staff Union Of Universities     08001000100     Ojuekun Sarumi     Rotimi Oyedepo    

Cloud Tag: What's trending

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

Nigeria Governors\' Forum     Tope Daramola     CCEPE     Deji Ajani     Ibrahim Akaje     Ethical College     David Adesina     Logun     Abdulrasheed Lafia     Muyideen Ajani Bello     Abdulmumini Jawondo     Abdulrauf Aliyu     Ajasse-Ipo     PAACO-PCL Consortium     Raheem Adaramaja     Mohammed Abdulahi     National Party Of Nigeria     Ilesha-Baruba     Niguel Gallando Marcias     Aisha Gobir     Ishola Abdullahi     Baba Issa Awoye     Hausa     Muhammad Yahya     Kunle Akogun     Binta Sulyman     Wahab Abayawo     Kwara Poly     Ilorin East/South Federal Constituency     NaAllah     Alabe     Modibo Kawu     Mutawali     Quarry Royal Valley     Abubakar Imam     Government High School (GHS), Adeta     Adesina Simon Sodiya     Abubakar Lah     Kwara Polytechnic     Abdulwahab Oba     Mustapha Akanbi     Salman Suleiman     Ganmo Power Sub-Station     New Naira Notes     Ita-Nmo Market     Gani Saadu     John Mayokun Dada     Lanre Issa Onilu     Shoprite     Imodoye Writer’s Enclave     Fatimoh Lawal     Aso-ofi     KWIRS     Yusuf A. Usman     Abdulazeez Uthman     Eleyele     Alfa Belgore     Jide Oyinloye     IEDPU     Mujtabah Bature     20 Billion Bond     TETFUND     Press Release     Kwara Liberation Group     Susan Modupe Oluwole     Shehu Salau     Jani Ibrahim     Alimi Abdulrazaq     Aasiyat Bello Oyedepo     T And K FOODS     Saka Saadu     IHS     Joseph Offorjama     Aisha Abodunrin Ibrahim     Sa\'adu Salau     KWACOBPA     Just Law Forum