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.

Harmony Holdings     Yunus Lawal     Salake     Moses Salami     Suleiman Alege Kuranga     Olatinwo     Abdulahi Abubakar Bata     Micheal Imodu-Ganmo Road     Fatimah Abdulkadir     Alfa Modibo Belgore     National Party Of Nigeria     Quranic Recitation Competition     Ademola Kiyesola     IYA YUSUF     MalHub     Tunji Moronfoye     AbdulKareem Yusuf Danhawa     Face Masks     Ajidagba     Abubakar Aliagan     Ayobami Akanbi     Abatemi-Usman     Mohammed Yahaya Barki     Kwarareports     Folorunsho Erubu     Oladipo Akanmu Tolani     NIRSAL     Suwa-Arabs     Suraj Tunji Oyewale     Adamu Ibrahim Sabi     All Confederation Of Principals Of Secondary Schools     Madawaki     Basic Education Certificate Examination     Hassan Abdulazeez Elewu     Aminu Adisa Logun     Bareke     Monsurat Omotosho     Sabitiyu Grillo     ER-KANG Mining     Is\'haq Modibbo Kawu     Sheikh Alimi     Curfew     Abikan     Valsolar-Kwara Company Limited     Funmilayo Oniwa     Oyin-Zubair     Olubukola Kifayat Adedeji     Saidu Isa     Oniye     Risikat Lawal     Salmon Babatunde Salmon     Elerinjare     Flights To Ilorin     Bamikole Omishore     Funke Adedoyin     Paul Olawoore     Yinka Aluko     Oluranti Idowu     Oye Tinuoye     Saliu Alamoyo     Opaleke Bukola Iyabo     Abdulrahman Abdulrazaq     Suleiman Yahya Alapansapa     Zaratu Umar     Saadu Gbogbo Iwe     Bureau Of Lands     Rotimi Samuel Olujide     Oniyangi Kunle Sulaiman     Oke-Ero     College Of Arabic And Islamic Legal Studies     Talaka Parapo     Sulu Babaita Isiaka     Bankole Omishore     AbdulRazaq Abubakar Jiddah     Adeola Abraham     United Nigeria Congress Party     Freshvine Nigeria Limited    

Cloud Tag: What's trending

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

Hajj     Elections     Saka Balikis Kehinde     Lanre Aremu     Woro     Raheem Adaramaja     Moshood Bakare     Tafida Of Kaiama     Olumide Daniel Ibitoye     General Hospital, Offa     Communication Network Support Services     Jimoh Lambe Abdulkareem     Aliyu Salihu     Kwara Politics     Muhammed Akanbi     Joshua Adeyemi Adimula     Sheikh Alimi     Garba Idris Ajia     Abiodun Abdulkareem     Oba Abu     Elerin Of Erin-Ile     Oya State     Police Commissioner     Simon Sayomi     Bayo Ojo     Aisha Ahman Pategi     Tanke Flyover Bridge     Esinrogunjo     Dapo Teni Nig Enterprise     Muhammed Danjuma     Lateef Fagbemi     Lawal Arinola Kudirat     TETFUND     Amusa Bello     Toyin Abdullahi     Lucky Omoluwa     Danladi     Baaziki Sulaiman     Arca Santa     High Court     Abioye Bello     Jimoh Saadudeen Muhammed     Abubakar Aliagan     Hakeem Lawal     Dankaka     Binta Abubakar Mora     S.O. Opowoye     Lukman Oyebanji Fagbemi     Tsaragi-Share     CT Ayeni     Kale Bayero     Ethical College     Magaji Nda     James Kolo     Ayinde Oyepitan     Kwasu     Idris Amosa Oladipo Saidu     Manzuma     Moses Salami     Oke-Ogun     Bahago     Lithium     Oniyangi     Unilorin FM     Local Government Pension Board     Yahaya A Paniyaro     Diagnostic Centre     Kwara State Television     Muslimah Entrepreneurship Forum     Bature Bello     Summit University     Abdulsalam A. Yusuf     Yakubu Danladi     Islamic Development Bank     Geri-Alimi Split Diamond Interchange     Ayotunde Emmanuel Alao     Leke Ogungbe